ARCPOINT CLOSES SALE OF OWNERSHIP STAKE IN NON-CORE ASSET
January 03 2025 - 6:00PM
ARCpoint Inc. (TSXV: ARC) (the “
Company” or
“
ARCpoint”) reports that it has now completed the sale of
its 68% share ownership interest in Achieve Behavioral Health
Greenville LLC, (“Achieve”) as originally announced December 30,
2024. In exchange for its ownership interest in Achieve, the
Company received cash of US$360,000, plus the settlement of
US$120,000 in amounts owing between ARCpoint and the buyers of the
Achieve interest, for total consideration of US$480,000.
The Transaction was a Non-Arm's Length
Transaction in accordance with the policies of the TSXV. The
Transaction also constituted a “related party transaction” within
the meaning of Multilateral Instrument 61-101 Protection of
Minority Security Holders 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 of MI
61-101 in reliance on the exemptions 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 health care
company that leverages technology along with brick-and-mortar
locations to give businesses and individual consumers access to
convenient, cost-effective healthcare information and solutions
with transparent, up-front pricing, so that they can be proactive
and preventative with their health and well-being.
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.
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