ARCPOINT ANNOUNCES CANADIAN DOLLAR $1.5 MILLION NON-BROKERED PRIVATE PLACEMENT

Not for distribution in the United States or through U.S. newswire services.

Greenville, South Carolina, July 05, 2024 (GLOBE NEWSWIRE) — ARCpoint Inc. (TSXV: ARC) (the “Business” Or “Arc point”) is pleased to announce its intention to complete a non-brokered private placement to raise gross proceeds of up to C$1,500,000 (the “Offer”) through the sale of up to 20,000,000 subordinate voting shares of the Company (each, a “Share”) at CA$0.075 per share.

The net proceeds from the offering will be used for operating expenses and other general corporate purposes, including increased investor outreach, investor relations and marketing expenses.

The Offering is subject to all necessary regulatory approvals, including acceptance by the TSX Venture Exchange. All securities issued pursuant to the Offering will be subject to a four-month hold period from the closing date under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside of Canada.

The securities offered have not been and will not be registered under the U.S. Securities Act and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons or U.S. persons absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any state in which such offer, solicitation or sale would be unlawful.

About ARCpoint Inc.
ARCpoint is a leading U.S.-based franchise system that offers drug, alcohol, DNA and clinical laboratory testing, corporate wellness programs, and employment and background checks, among other services. The company is headquartered in Greenville, South Carolina, United States. ARCpoint Franchise Group LLC, incorporated under the laws of the State of South Carolina in February 2005, is the franchisor of ARCpoint Labs and operates over 130 independently owned locations. ARCpoint sells franchises to individuals throughout the United States and provides marketing, technology and training support to new franchisees. ARCpoint Corporate Labs LLC develops corporate-owned laboratories that are committed to providing accurate and cost-effective solutions to consumers, businesses and physicians. AFG Services LLC serves as the innovation hub for the ARCpoint group of companies as it builds a proprietary technology platform and physician network to equip all ARCpoint labs with best-in-class tools and solutions to better serve their customers. The platform also digitizes and streamlines administrative functions such as materials purchasing, compliance, billing and physician services for ARCpoint franchised labs and other customers.

The story continues

For further information please contact:

ARCpoint Inc.
Jason Tong, Chief Financial Officer
Phone: (604) 889-7827
Email: [email protected]

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Forward-looking information

This press release contains certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of the Company’s management regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as “intends” or “anticipates” or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “should” or “occur”. These forward-looking statements and information, hereinafter referred to as “forward-looking statements”, are not historical facts, are made as of the date of this press release and include, without limitation, statements regarding discussions of future plans, estimates and projections and statements regarding management’s expectations and intentions regarding, among other things: the anticipated proceeds to be raised under the Offering, the participation of directors, officers and insiders in the Offering and the use of any proceeds raised under the Offering.

These forward-looking statements involve numerous risks and uncertainties and actual results could differ materially from the results suggested in the forward-looking statements. These risks and uncertainties include, among others: delays in obtaining or failure to obtain regulatory approvals required for the Offering, market uncertainty and the Company’s inability to raise the funds anticipated in connection with the Offering.

In making the forward-looking statements contained in this press release, the Company has applied several material assumptions, including, without limitation, that: the Company will obtain the required regulatory and TSX Venture Exchange approvals for the Offering, the Company will be able to raise the anticipated proceeds under the Offering, that certain directors, officers and insiders will participate in the Offering and that the Company will use the proceeds of the Offering as currently anticipated.

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results to differ from those anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company undertakes no obligation to update any forward-looking statements, forward-looking information or financial outlook that is incorporated by reference herein, except in accordance with applicable securities laws. We seek a safe harbor.