Greenville, South Carolina, Jan. 03, 2025 (GLOBE NEWSWIRE) — ARCpoint Inc . (TSXV: ARC) ( Company or ARCpoint) reports 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 equity interest in Achieve, the Company received cash of $360,000 , plus a settlement of $120,000 in amounts owed between ARCpoint and purchasers of the Achieve interest, totaling fees of 480,000 USD.
The Transaction (JO:) was an off-market transaction in accordance with TSXV rules. The transaction also represented a related party transaction within the meaning of Multilateral Instrument 61-101 Protection of holders of minority securities in special transactions (MI 61-101). Notwithstanding the foregoing, the directors of the Company determined that the Transaction was exempt from the formal valuation and minority shareholder approval requirements under MI 61-101 by relying on the exceptions set forth in Sections 5.5(a) and 5.7(1)(b) of MI 61 -101.
About ARCpoint Inc.
ARCpoint is an innovative US-based healthcare company that uses technology together with physical locations to provide businesses and individual consumers with access to convenient, cost-effective healthcare information and solutions with transparent upfront pricing so they can be proactive and preventative about their health and well-being .
For more information, contact:
ARCpoint Inc.
Jason Tong, Chief Financial Officer
Phone: (604) 889-7827
Email: invest@arcpointlabs.com
Neither the TSX Venture Exchange nor its regulatory service provider (as that term is defined in the rules of the Exchange) accepts responsibility for the adequacy or accuracy of this press release.
Source: ARCpoint Inc.
