VentriPoint Diagnostics Ltd. (CVE:VPT) has engaged Frontier Consulting Ltd to provide the firm with investor relations services in agreement with regulatory rules to enhance market exposure. Frontier Consulting is a part of the Frontier Merchant Capital Group.
FronTier is a highly recognized and experienced investor relations group, based in Toronto with additional offices and IR executives across the USA and Canada. It will help VentriPoint by increasing market awareness for the firm using different financial market communications measures, the core of which will be supporting in-person introductions for the firm with retail and institutional brokers and shareholders in a number of towns across the US, Europe, Australasia and Canada.
Under the agreement terms, FronTier has been engaged for 12 months to offer IR services for a compensation of $6,000 payable quarterly, and to offer more marketing consulting services for $60,000. VentriPoint issued stock options of 200,000 to FronTier bearing an exercise price of $0.15, conferring in equal quarterly payments over 12 months and closing two years from the grant date. FronTier and its related firms currently own as many as 834,000 common shares of company and common share warrants amounting to 834,000.
In addition, the firm reported a correction to its News Release of December 19, 2016 reporting the closing of the firm’s Private Placement and Shares for Debt in December 2016. Dr. George Adams, the Director and CEO of VentriPoint, had subscribed for only 666,000 Units, and not 660,000 in the second tranche.
Recently, the company received a license for its VMS-PLUS™ machine as well as for the 4C heart analysis system from Health Canada. As a result, now the VMS heart analysis product will also include right atrium, left ventricle and left atrium chambers of the heart.
In the last trading session, the stock price of VentriPoint declined over 24% to close at $0.540.