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) announces its intention to complete a non-brokered private
placement offering of up to 17,647,059 units at $0.17 per unit for total gross
proceeds of up to $3,000,000. 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 $0.25 per
share for a period of 3 years after the closing. 


A finder's fee of up to 8% of the gross proceeds of the offering may be paid, on
all or any portion of the funds raised pursuant to this offering. In addition,
finders will receive finders warrants equal to up to 8% of the number of units
issued in connection with the offering. Each finders warrant will entitle the
holder to purchase one common share at $0.17 per share for a period of eighteen
(18) months after the closing.


The closing of the offering is expected to occur on or about May 20, 2011, 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.


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(TM) functionality, including applications
for additional diagnoses and heart diseases; and (iii) for working capital. 


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. The VMS(TM) is
the first cost-effective and accurate diagnostic tool for measuring right
ventricle heart function. Congenital heart disease 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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