Ventripoint Diagnostics Ltd. ("Ventripoint" or the "Company") (TSX VENTURE:VPT)
(OTCQX:VPTDF) announces that it has completed the first of its two previously
announced non-brokered private placements. The Company has issued an aggregate
of US$748,000 principal amount of non-convertible secured debentures (the
"Non-Unit Debentures") which mature on July 18, 2014 pursuant to the
non-brokered private placement (the "Debenture Private Placement") of
non-convertible secured debentures (the "Debentures"). 


The Debentures will bear interest at a rate of 12% per annum. Any accrued but
unpaid interest under the Debentures shall be due and payable on December 1st of
each calendar year. The December 1, 2013 interest may, subject to the approval
of the TSX Venture Exchange ("Exchange"), be paid in Common Shares, with the
number of Common Shares being determined by using the preceding 10 day
volume-weighted average price of the Common Shares on the Exchange, subject to
Exchange approval. All subsequent interest payments shall be made in cash and
the final payment of accrued interest shall be payable upon maturity of the
Debentures.


If the Company prepays all of the outstanding principal on any of the Debentures
prior to the second anniversary date of the Debentures, the Company is also
required to pay any accrued interest and make an additional payment to the
Debenture holder equal to one year's interest (the "Additional Interest
Payment").


It is a requirement of the Debentures that the Debenture holders shall be paid,
pro rata, 20% of the gross revenues received by Ventripoint (net of any third
party billings, such as shipping or taxes) (the "Revenue Payments") at the end
of each calendar quarter from sales of VentriPoint Medical System ("VMS")
machines until the Debentures are retired. The Revenue Payments shall not invoke
the Additional Interest Payment and will be deducted from the principal required
to be paid on the maturity date of the Debentures. 


The Debentures are secured by a general security agreement against substantially
all of the assets of the Company's wholly-owned subsidiary, Ventripoint, Inc.,
including its intellectual property, as a first charge. All Debentures rank
equally with one another.


The Company intends to use the proceeds from the Debenture Private Placement
for: (i) product and service commercialization of the VMS machines; (ii)
clinical validation of VMS functionality, including applications for additional
diagnoses and heart diseases; and (iii) for general working capital purposes and
potentially to repay debt and outstanding payables. 


The Debenture Private Placement is subject to the final approval of the
Exchange. The securities issued pursuant to the Debenture Private Placement are
subject to a four-month hold period in accordance with applicable securities
laws. 


The Company also announces, subject to all necessary regulatory and Exchange
approval, that it intends to issue 694,425 Common Shares at a deemed price of
$0.099 per Common Share in payment of $68,748.09 of accrued interest owing to a
holder of an outstanding debenture of the Company. The 694,425 Common Shares
will have a hold period of four months from the date of issuance in accordance
with applicable securities legislation.


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. Management
believes that VMS(TM) is the first cost-effective and accurate diagnostic tool
for measuring right ventricle heart function. Congenital heart disease in
children and adults and Pulmonary Arterial Hypertension are the first
applications in a suite of applications for all major heart diseases including
cardiovascular disease and heart failure - a multi-billion dollar market
potential. Canada and Europe (CE Mark) have granted approval for the sale of its
VMS(TM) tool and the Company is pursuing the US-FDA marketing clearance through
the 510(k) process. 


FORWARD-LOOKING STATEMENTS: This news release may contain certain
forward-looking information and statements, including without limitation,
statements pertaining to the closing of the private placements including the
Company's ability to obtain necessary approvals from the TSX Venture Exchange.
All statements, other than statements of historical facts, which address
Ventripoint's expectations, should be considered forward-looking statements.
Such statements are based on management's exercise of business judgment as well
as assumptions made by and information currently available to management. When
used in this document, the words "may", "will", "anticipate", "believe",
"estimate", "expect", "intend" and words of similar import, are intended to
identify any forward-looking statements. You should not place undue reliance on
these forward-looking statements. These statements reflect a current view of
future events and are subject to certain risks and uncertainties as contained in
the Company's filings with Canadian securities regulatory authorities. Should
one or more of these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results could differ materially from those
anticipated in these forward-looking statements. A description of assumptions
used to develop such forward-looking information and a description of risk
factors that may cause actual results to differ materially from forward-looking
information can be found in Ventripoint's disclosure documents on the SEDAR
website at www.sedar.com. The Company undertakes no obligation, and does not
intend, to update, revise or otherwise publicly release any revisions to these
forward-looking statements to reflect events or circumstances after the date
hereof, or to reflect the occurrence of any unanticipated events. Although
management believes that expectations are based on reasonable assumptions, no
assurance can be given that these expectations will materialize.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Ventripoint Diagnostics Ltd.
Dr. George Adams
CEO
(206) 910-9125
gadams@ventripoint.com
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