GREENVILLE, South Carolina, July 15, 2026 (GLOBE NEWSWIRE) -- ARCpoint Inc. (TSXV: ARC) (the "Company" or "ARCpoint") announces that it will likely miss its filing deadline of July 29, 2026 (the "Annual Filing Deadline") to file annual financial statements and accompanying management's discussion and analysis and related CEO and CFO certificates for the year ended March 31, 2026 (collectively, the "Annual Filings"), as required under applicable Canadian securities laws.
In connection with the Company's inability to file the Annual Filings on time, the Company has applied for a Management Cease Trade Order ("MCTO") under National Policy 12-203 – Management Cease Trade Orders ("NP 12-203") and is waiting for the decision of the British Columbia Securities Commission (the "BCSC") with respect to its application.
The Company is applying for the MCTO due to a lack of available funds, which has delayed the Company's ability to pay its auditors and accounting personnel responsible for completing the Annual Filings. As a result, the audit of the Company's annual financial statements for the year ended March 31, 2026, has not been completed, and the Company does not expect to file the Annual Filings by the Annual Filing Deadline.
The Company expects to file the Annual Filings on or about September 29, 2026, but in any event as soon as they are available. The Company will issue a news release once the Annual Filings have been filed. Until the Company files the Annual Filings, it will comply with the alternative information guidelines set out in NP 12-203. The guidelines, among other things, require the Company to issue bi-weekly default status reports, in the form of news releases, for so long as the Annual Filings have not been filed.
During the MCTO, the general investing public will continue to be able to trade in the Company's Class A Subordinate Voting Shares listed on the TSX Venture Exchange. However, the Company's Chief Executive Officer, Chief Financial Officer, and such other directors, officers and persons as determined by the applicable regulatory authorities will not be able to trade in the Company's Class A Subordinate Voting Shares, nor will the Company be able to, directly or indirectly, issue securities to or acquire securities from an insider or employee of the Company except in accordance with legally binding obligations to do so existing as of July 29, 2026, being the date of the Company's anticipated continuous disclosure default.
The Company is not subject to any insolvency proceedings. If the Company provides any information to any of its creditors during the period in which it is in default of filing the Annual Filings, the Company confirms that it will also file material change reports on the Company's profile on SEDAR+ containing such information.