Poynt Corporation says it’s filed a Notice of Intention to File a Proposal under the Bankruptcy and Insolvency Act (Canada). As a result, the company says it is now in a position to address its obligations to creditors in an orderly and efficient manner.

Calgary-based Poynt, which operates a location-based search and advertising platform, will now send a proposal to its creditors during the next 30 days. Its business will continue as usual during this process.