ARCpoint Inc. Completes Private Placement Successfully
ARCpoint Inc. (TSXV: ARC) is thrilled to announce the successful closure of its non-brokered private placement, which has garnered an impressive C$800,000 through the sale of 10 million units at a price of C$0.08 each. Each unit is composed of one class A subordinate voting share and comes with a share purchase warrant that allows for purchasing additional shares at C$0.12 for two years from the issuance.
Robust Use of Proceeds
The capital raised will be directed towards a variety of operational expenditures and other essential corporate functions. This includes initiatives aimed at bolstering investor awareness, enhancing investor relations, and promoting marketing strategies within the company.
Involvement of Directors
Notably, directors Felix Mirando and Adam Ho have taken part in this offering, collectively acquiring 764,199 units. Such involvement is categorized as a related party transaction under Multilateral Instrument 61-101. The directors, however, have confirmed that their participation is exempt from specific formal approval requirements given pre-established exemptions.
Finder’s Shares and Commission
As part of the closing process, ARCpoint has issued 428,400 finder’s shares and 536,400 finder’s warrants. A total cash commission of $36,057.60 was paid to various arm’s length finders, which include reputable names like Canaccord Genuity Corp.
Plans for Additional Growth
Looking ahead, ARCpoint intends to raise an extra C$700,000 by offering 8.75 million more units under the same terms as the current offering. Such an initiative is poised to further cement ARCpoint's financial standing and could amplify the company's marketing outreach.
Regulatory Compliance and Investor Assurance
It is important to note that the offering is dependent on final acceptance from the TSX Venture Exchange. Moreover, all securities associated with this offering will undergo a four-month hold period in accordance with Canadian securities laws, ensuring a compliance pathway for both Canadian and international investors.
Marketing Service Agreement with OTB
Furthermore, ARCpoint has entered a Marketing Service Agreement with Outside the Box Capital Inc. (OTB) designed to enhance the company’s market presence. This agreement, effective March 7, 2025, will span six months, during which OTB will assist in distributing vital information about ARCpoint, with a monthly compensation of $25,000.
Essential Services to be Provided
OTB's services will encompass robust marketing strategies and distribution efforts that ensure the company's activities are well-received in the public sphere, thereby maximizing its awareness among potential investors.
Innovative Health Solutions by ARCpoint
ARCpoint Inc. stands as a groundbreaking health care company based in the U.S., uniquely combining technology with physical locations. The core mission of ARCpoint is to provide both businesses and individual consumers with convenient and cost-effective access to healthcare information, supported by transparent pricing strategies. This approach not only emphasizes health and wellness but also enables clients to maintain a proactive and preventative health regimen.
Contact Information for Inquiries
For further details about ARCpoint and its initiatives, interested parties can reach out to Jason Tong, Chief Financial Officer at (604) 889-7827 or via email at invest@arcpointlabs.com.
Frequently Asked Questions
What was the total amount raised in ARCpoint's private placement?
ARCpoint raised a total of C$800,000 through its private placement.
What are the terms attached to the Warrants?
Each warrant allows the holder to purchase additional shares at C$0.12 for a period of 24 months from issuance.
How will the raised funds be used?
The proceeds will be used for operational expenses and enhancing investor relations and marketing activities.
Who participated in the private placement?
Directors Felix Mirando and Adam Ho participated, purchasing a total of 764,199 units.
How many additional units does ARCpoint intend to offer?
ARCpoint plans to offer an additional 8.75 million units at the same price of C$0.08 per unit.
