VMS Vortex Metals Inc

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


VentriPoint Diagnostics Ltd. ("VentriPoint" or the "Corporation") (TSX
VENTURE:VPT) is pleased to announce that it has engaged Bloom Burton & Co Inc.
(the "Agent") to act as its agent on a best-efforts basis for the private
placement of up to 17,647,059 units at the price of Cdn.$0.17 per unit for
aggregate gross proceeds of up to Cdn.$3 million (the "Offering"). The Offering
will also include a non-brokered component. Each unit will consist of one common
share and one half of one common share purchase warrant. Each whole warrant will
entitle the holder thereof to acquire one additional common share at a price of
Cdn.$0.25 per share for a period of 36 months after the closing.


For its services in connection with the Offering, the Agent shall be paid a fee
comprised of cash and broker warrants determined as follows: (i) 10% cash and
10% broker warrants on gross proceeds up to $500,000; (ii) 9% cash and 9% broker
warrants on gross proceeds above $500,000 and up to $1,000,000; (iii) 8% cash
and 8% broker warrants on gross proceeds above $1,000,000 and up to $1,500,000;
and (iv) 7% cash and 7% broker warrants on gross proceeds above $1,500,000. Each
broker warrant shall entitle the holder thereof to purchase one common share at
an exercise price of Cdn.$0.17 for a period of 36 months after the closing.


The net proceeds of the Offering will be used for: (i) expenditures with respect
to product and service commercialization of the VentriPoint Medical System
("VMS"); (ii) expansion of VMS functionality, including applications for
additional diagnoses and heart diseases; and (iii) for working capital.


The closing of the offering is expected to occur in one or more tranches with
the first closing to occur on or about December 22, 2010, and is subject to
regulatory approval, including approval of the TSX Venture Exchange. All
securities issued in connection with the offering will be subject to a hold
period of four months from the date of closing.


About VentriPoint Diagnostics Ltd.

VentriPoint has created a diagnostic ultrasound tool to monitor patients with
heart disease, a leading cause of death in developed countries. VMS is the first
costeffective and accurate diagnostic tool for measuring right ventricle heart
function. Congenital heart disease in children is the first application in a
suite of applications for all major heart diseases including pulmonary
hypertension, cardiovascular disease and heart failure - a multibillion dollar
market potential. Canada and Europe (CE Mark) have granted approval for the sale
of its VMS diagnostic tool and a 510(k) submission is currently being reviewed
by the U.S. Federal Drug Administration.


Cautionary Note Regarding Forward-Looking Statements

Certain statements contained herein constitute forward-looking statements,
including statements concerning the anticipated closing date of the Offering and
the anticipated use of proceeds. We believe the expectations reflected in those
forward-looking statements are reasonable but no assurance can be given that
these expectations will prove to be correct and such forward-looking statements
included herein should not be unduly relied upon. Closing could be delayed if
VentriPoint cannot obtain necessary regulatory approvals within anticipated
timelines and will not be completed unless certain conditions customary for
transactions of this kind are satisfied. The forward-looking statements included
in this press release are made as of the date of this press release and
VentriPoint disclaims any intention or obligation to update or revise any
forward-looking statements, whether as a result of new information, future
events or otherwise, except as expressly required by applicable securities
legislation.


This news release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there by any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful.

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