ARCPOINT TO HOST CONFERENCE CALL TO DISCUSS 2023 Q4 AND FULL YEAR FINANCIAL RESULTS

Greenville, South Carolina, April 29, 2024 (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, announces that it will host a conference call at 4pm Eastern time, Wednesday, May 1, 2024 to review the Company’s 2023 full year and fourth quarter, ending December 31, 2023 results.

The dial-in number for the conference call is as follows:

Canada / USA Toll Free         1-844-763-8274
International Toll [phone]

Callers should dial in 5 – 10 min prior to the scheduled start time and ask to join the ARCpoint call:

ARCpoint President and CEO, John Constantine commented “We have worked hard to make progress in bringing our costs in line with revenues over the past 14 months, including recent new staffing and operational reductions. Together, all of these reductions have resulted in an approximately 45% reduction in our headcount and 30% reduction in our overall operating expenses since early 2023”.

Throughout April 2024, the Company enacted reductions in headcount as well as to operational and administrative costs that are expected to result in annualized savings of approximately $530,000 in staffing costs and $440,000 in operational and administrative costs. These recently completed reductions are in addition to the staffing and operational cuts totalling USD$2 million as previously reported by the Company in its news releases dated March 8 and October 17, 2023.

Mr. Constantine concluded, “While the effects of these cuts have been difficult, we believe they are necessary to bring longer term value to our shareholders as we seek to leverage our MyARCpointLabs technology platform to create a healthcare ecosystem that will drive more business to our franchisees and expand our distribution network through new partnerships.”

On July 10, 2023 the Company reported that it had launched its new consumer e-commerce platform, MyARCpointLabs. (“MAPL”) MAPL was developed to make it easier for the Company’s franchisees to attract and better serve individual healthcare consumers and for a greater number of consumers to purchase the Company’s products and services more easily. By year end of 2023, every ARCpoint franchised location had MAPL integrated into their location and interfaced with their local website. MAPL also provides interface support with various other healthcare organizations and acts as the operations tool within the franchise system. The technology virtualizes the Company’s consumer business model allowing for the expansion of the Company’s footprint to other entities beyond traditional ARCpoint facilities and enabling franchisees to generate revenue prior to having a brick and mortar facility. MAPL also allows for the linking of diagnostic testing services with virtual physicians and other healthcare system constituents, such as independent pharmacies.