ARCPOINT ANNOUNCES C$1.5 MILLION NON-BROKERED PRIVATE PLACEMENT
06 July 2024 - 2:45AM
ARCpoint Inc. (TSXV: ARC) (the “
Company” or
“
ARCpoint”) is pleased to announce that it intends
to complete a non-brokered private placement to raise gross
proceeds of up to C$1,500,000, (the “
Offering”)
through the sale of up to 20,000,000, subordinate voting shares of
the Company (each, a “
Share”) at C$0.075 per
Share.
The net proceeds from the Offering will be used
for operational expenses and other general corporate purposes
including increasing investor awareness, investor relations and
marketing expenses.
The Offering is subject to all necessary
regulatory approvals including acceptance from the TSX Venture
Exchange. All securities issued in connection with 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 Canada.
The securities being offered have not been and
will not be registered under the U.S. Securities Act and may not be
offered or sold in the United States, or to, or for the account or
benefit of, U.S. persons or persons in the United States, 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 the securities in any State in which such offer,
solicitation or sale would be unlawful.
About ARCpoint Inc.ARCpoint is
a leading US-based franchise system providing drug testing, alcohol
screening, DNA and clinical lab testing, corporate wellness
programs, and employment and background screening, among other
services. The Company is based in Greenville, South Carolina, USA.
ARCpoint Franchise Group LLC, formed under the laws of the state of
South Carolina in February 2005, is the franchisor of ARCpoint Labs
and supports over 130 independently owned locations. ARCpoint sells
franchises to individuals throughout the United States and provides
support in the form of marketing, technology and training to new
franchisees. ARCpoint Corporate Labs LLC develops corporate-owned
labs committed to providing accurate, cost-effective solutions for
customers, businesses and physicians. AFG Services LLC serves as
the innovation center of the ARCpoint group of companies as it
builds a proprietary technology platform and a physician network to
equip all ARCpoint labs with best-in-class tools and solutions to
better serve their customers. The platform also digitalizes and
streamlines administrative functions such as materials purchasing,
compliance, billing and physician services for ARCpoint franchise
labs and other clients.
For more information, please contact:
ARCpoint Inc.Jason Tong, Chief Financial
OfficerPhone: (604) 889-7827E-mail: invest@arcpointlabs.com
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 release includes 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 management of the Company
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", "should", "would" or "occur". This
information and these statements, referred to herein as
"forward‐looking statements", are not historical facts, are made as
of the date of this news release and include without limitation,
statements regarding discussions of future plans, estimates and
forecasts and statements as to management's expectations and
intentions with respect to, among other things: the anticipated
proceeds to be raised under the Offering, director, officer and
insider participation 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 might differ
materially from results suggested in any forward-looking
statements. These risks and uncertainties include, among other
things: delays in obtaining or failure to obtain required
regulatory approvals for the Offering, market uncertainty and the
inability of the Company to raise the anticipated proceeds under
the Offering.
In making the forward-looking statements in this
news 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 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 not to be as 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 does not undertake to update any
forward-looking statement, forward-looking information or financial
out-look that are incorporated by reference herein, except in
accordance with applicable securities laws. We seek safe
harbor.
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