08:14 AM EDT, 03/10/2025 (MT Newswires) -- ARCpoint ( ARCPF ) , whose shares closed up 11% on Friday, over the weekend closed its previously announced $800,000 non-brokered private placement of 10 million units at $0.08 apiece.

Each unit consists of one class A subordinate voting share and one share purchase warrant.

ARCpoint ( ARCPF ) said it will raise an additional $700,000 by offering around 8.8 million units at $0.08 each.

Proceeds will be used for operational expenses and other general corporate purposes including increasing investor awareness, investor relations and marketing expenses.

Shares of the company closed up $0.010 to $0.10 on Friday on the TSX Venture Exchange.