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GREENVILLE, South Carolina, Jan. 03, 2025 (GLOBE NEWSWIRE) — ARCpoint Inc. (TSXV:ARC) (“a company“or”Arc point) indicates that it has now completed the sale of its 68% equity interest in Achieve Behavioral Health Greenville LLC, (“Achieve”) as originally announced on December 30, 2024. In exchange for its ownership interest in Achieve, the Company received cash $360,000, plus the settlement of $120,000 in amounts owed between ARCpoint and the purchaser of the Achieve interest, for a total amount of 480,000 US dollars.
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The transaction was a non-commercial transaction in accordance with the policies of the TSXV. The transaction also constitutes a “related party transaction” within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Private Transactions (“Mi 61-101”). Notwithstanding the foregoing, the Company’s directors determined that the Transaction was exempt from the formal evaluation and minority shareholder approval requirements of MI 61-101 in reliance on the exemptions set forth in Sections 5.5(a) and 5.7(1)(b). From MI 61-101.
About Arc Point Company
ARCpoint is an innovative US-based healthcare company that leverages technology combined with physical locations to give businesses and individual consumers access to convenient, cost-effective healthcare information and solutions at transparent, upfront prices, so they can be proactive and preventative with their health. And their well-being.
For more information, please contact:
Arc Point Company
Jason Tong, CFO
Phone: (604) 889-7827
Email: invest@arcpointlabs.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in exchange policies) accepts responsibility for the adequacy or accuracy of this press release.
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