ARCPOINT INC. ANNOUNCES ACCELERATED RELEASE OF LOCK-UP SHARES TO INCREASE TRADING LIQUIDITY OF SHARES

Greenville, South Carolina, March 17, 2023 (GLOBE NEWSWIRE) -- ARCpoint Inc. (TSXV:ARC) (the “Company” or “ARCpoint”), announces accelerated release of 1,923,000 Class A Subordinate Voting Shares of the Company (the “Released Shares”) registered in the name of GICMB Venture Corp. I (“GVC”) from the transfer restrictions set out in the lock-up agreement (the “Lock-up Agreement”) voluntarily entered into by GVC on October 21, 2022. GVC is an arm’s length party to the Company. The Released Shares was initially scheduled for release on April 21, 2023 pursuant to the Lock-up Agreement. The board of directors of the Company has approved the amendment of the Lock-up Agreement to authorize the accelerated release of the Released Shares effective March 17 2023 for the purpose of creating liquidity for the trading of the Class A Subordinate Shares of the Company listed on the TSX Venture Exchange.

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