Greenville, South Carolina, Oct. 03, 2023 (GLOBE NEWSWIRE) -- ARCpoint Inc. (TSXV: ARC) (the “Company” or “ARCpoint”) a leading US-based franchise system providing drug testing, alcohol screening, DNA and direct to consumer (“DTC”) clinical lab testing services announced today that it has granted, in aggregate, 3,440,000 options (“Options”) to certain officers, directors, employees and consultants of the Company and its subsidiaries pursuant to its omnibus incentive plan (the “Omnibus Plan”). Each Option is exercisable to acquire one Class A Subordinate Voting Share of the Company (“SVS”) at a price of $0.25 per SVS with a term of ten years from the date of issue (the “Issue Date”). The Options vest in three equal installments on the anniversary of the Issue Date for each of the three years following the Issue Date. In addition, the Company has granted 555,000 restricted share units (“RSU”) to a director and officer of the Company pursuant to the Omnibus Plan. Each RSU can be settled for one SVS after such RSU vests on October 2, 2024. These grants were made to appropriately award the contributions of the recipient officer, directors, employees and consultants of ARCpoint and its subsidiaries and to encourage them to continue contributing to ARCpoint’s success.
About ARCpoint Inc.
ARCpoint is a leading US-based franchise system 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. ARCpoint is based in Greenville, South Carolina, USA. ARCpoint Franchise Group LLC, formed under the laws of the state of South Carolina in February 2005, is the franchisor of ARCpoint Labs and supports over 130 independently owned locations. ARCpoint sells franchises to individuals throughout the United States and provides support in the form of marketing, technology and training to new franchisees. ARCpoint Corporate Labs LLC develops corporate-owned labs committed to providing accurate, cost-effective solutions for customers, businesses and physicians. AFG Services LLC serves as the innovation center of the ARCpoint group of companies as it builds a proprietary technology platform and a physician network to equip all ARCpoint labs with best-in-class tools and solutions to better serve their customers. The platform also digitalizes and streamlines administrative functions such as materials purchasing, compliance, billing and physician services for ARCpoint franchise labs and other clients.
For more information, please contact:
Jason Tong, Chief Financial Officer
Phone : (604) 889-7827
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