01:00 PM EDT, 07/05/2024 (MT Newswires) -- ARCpoint ( ARCPF ) on Friday said it plans to raise $1.5 million from a non-brokered private placement of shares.

The company is offering up to 20-million shares priced at $0.075 apiece.

ARCpoint ( ARCPF ) intends to use the proceeds for operational expenses and other general corporate purposes, including increasing investor awareness, investor relations, and marketing expenses.

ARCpoint ( ARCPF ) is a US-based franchise system providing drug testing, alcohol screening, DNA and clinical lab testing, corporate wellness programs, and employment and background screening, among other services.

The company's shares were last seen up $0.01 to $0.11 on the TSX Venture Exchange.

Price: 0.11, Change: +0.01, Percent Change: +10.00