ARCpoint Resolves CAD$153,565 Debt Through Issuance of 1.4 Million Shares

ARCpoint settled a CAD$153,565 debt by issuing 1,396,046 shares at CAD$0.11 each.

ARCpoint Settles CAD$153,565 Debt with Director Through Equity Issuance

ARCpoint announced on Friday that it has settled a significant debt of CAD$153,565 with one of its directors. This debt originated from a loan given to a subsidiary in June 2024 initially amounting to CAD$152,296 with a 10% annual interest rate.

To resolve the debt, ARCpoint has decided to issue 1,396,046 Class A Subordinate Voting Shares priced at CAD$0.11 each totaling CAD$153,565. This issuance effectively clears the debt owed to the director and aligns with ARCpoint’s strategy to manage its financial obligations using equity, according to the report of Seeking Alpha.

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(photo: WSET)

ARCpoint Strengthens Financial Position Through Debt-to-Equity Strategy

The issuance of shares highlights ARCpoint’s focus on maintaining liquidity and optimizing its capital structure by converting debt into equity. This move is expected to strengthen the company’s financial position and provide flexibility for future operations, potentially boosting investor confidence.

This agreement demonstrates ARCpoint’s proactive approach to managing its financial responsibilities through strategic equity transactions. With the settlement complete and ARCpoint can now concentrate on advancing its business goals and pursuing growth opportunities in its industry. Overall, this strategic use of shares represents a significant step in ARCpoint’s financial management strategy aimed at enhancing shareholder value and ensuring long-term growth.

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