Poynt Corporation announced an update regarding the Company's Notice of Intention to File a Proposal under the Bankruptcy and Insolvency Act (Canada). By filing the Notice, Poynt Corp. is now in a position to address its obligations to its secured and unsecured creditors in an orderly and efficient manner. The filing provides an initial 30-day period for Poynt Corp. to develop a proposal to be sent to creditors for review and approval, during which period the existing claims of creditors are stayed. Poynt Corp.'s ongoing operations and business will continue in the normal course during the Proposal process. Poynt Corp.'s Board of Directors and management team are evaluating several opportunities for strategic investment or possible business combinations as part of developing the Proposal, with the focus of the Proposal being to satisfactorily address all creditor obligations and to maximize shareholder value. "Under the Proposal process, the Company will continue to operate, expand its business and execute on opportunities for growth and monetization," said Andrew Osis, President and CEO, Poynt Corp. He added: "With almost 17 million users globally and a user growth rate of 20,000 to 25,000 new users daily, the Company is in a strong position moving forward to consider a number of strategic investment and combination opportunities that have been presented. These opportunities will allow the Company to maximize our market position and provide increased value for shareholders while dealing with our creditors in an orderly manner."