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 is has completed the closing of the
second and final tranche of its previously announced private placement of units
with Bloom Burton & Co. Inc. (the "Agent") as the agent on a best efforts basis.
At this final closing, the Corporation issued 1,960,000 units at a price of
$0.17 per unit for gross proceeds of $333,200. VentriPoint has received total
gross proceeds of $1,808,866 pursuant to the private placement, which also
included a non-brokered component. 


Each unit consists of one common share and one half of one common share purchase
warrant. Each whole warrant entitles 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. All securities issued in connection with this final
tranche of the offering will be subject to a four month hold period that expires
on May 19, 2011. Completion of the private placement is subject to TSX Venture
Exchange final approval. 


The net proceeds of the private placement 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. 


For its services in connection with the final tranche of the Offering, the Agent
was paid fees in the aggregate amount of $26,120.50 and received an aggregate of
153,650 broker warrants. Each broker warrant entitles 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. 


Amol Karnick, the Vice President of Sales and Business Development of the
Corporation, subscribed for 70,000 units under the offering. VentriPoint has
determined that there are exemptions available from the various requirements of
TSX Venture Policy 5.9 and Multilateral Instrument 61-101 for the issuance of
these units, (Formal Valuation - Issuer Not Listed on Specified Markets;
Minority Approval - Fair Market Value Not More Than 25% of Market
Capitalization). No new insiders were created, nor has any change of control
occurred, as a result of this private placement. 


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(TM) is the
first cost-effective 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 VentriPoint's VMS(TM) diagnostic tool and it is pursuing the US-FDA approval
through the 510(k) process.


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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