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Empower Clinics $CBDT.ca $EPWCF Kai Medical Lab to Introduce New Influenza A/B COVID RT-PCR Test to Differentiate Influenza From COVID-19. Recent $1,000,000 Testing Order Tt Utilize New Protocol the Kai ABC RT-PCR Test $WELL.ca $DOC.ca $DOCRF $VMD.ca $VPT.ca $ADK.ca

Posted by AGORACOM-JC at 7:07 AM on Thursday, November 19th, 2020
  • Announced that Kai Medical Laboratory (“KAI”) will be introducing its new KAI ABC RT-PCR test protocol to differentiate between Influenza A/B and COVID-19 (“ABC”), which will be vital in the diagnosis and treatment of respiratory pathogens
  • The new KAI ABC RT-PCR test protocol is expected to be ready for the market in the first week of December, in time for the most recent 9,000 unit, $1,000,000 order for a film & television production

VANCOUVER BC / November 19, 2020 / EMPOWER CLINICS INC. (CSE:CBDT)(Frankfurt:8EC)(OTCQB:EPWCF) (“Empower” or the “Company“) an integrated healthcare company serving a database of 165,000 patients through clinics in the southwest United States, a telemedicine platform and medical diagnostics laboratory, is pleased to announce that Kai Medical Laboratory (“KAI”) will be introducing its new KAI ABC RT-PCR test protocol to differentiate between Influenza A/B and COVID-19 (“ABC”), which will be vital in the diagnosis and treatment of respiratory pathogens.

The new KAI ABC RT-PCR test protocol is expected to be ready for the market in the first week of December, in time for the most recent 9,000 unit, $1,000,000 order for a film & television production.

Empower Clinics Chairman and CEO, Steven McAuley, stated “Kai Medical Laboratory with its team of scientists and lab experts are opening new channels of expansion for Empower in research and diagnostics, enabling the company to access dramatically larger national and international markets for healthcare products. We have a number of exciting developments coming that expand and diversify our reach both through the lab and within our clinic layer that have direct access to patients”

MULTIPLE BENEFITS OF KAI ABC RT-PCR RANGE FROM EARLY AND CORRECT DIAGNOISIS TO PACKAGED COST SAVINGS

COVID-19 and influenza viruses have a similar disease presentation. They both cause respiratory disease, which presents as a wide range of illness from asymptomatic or mild through to severe disease and death. As such, the benefits of this KAI ABC RT-PCR test protocol being able to differentiate between the Flu and COVID-19 are invaluable as follows:

First, it is vital in the diagnosis and treatment of respiratory pathogens. As most COVID-19 testing now primarily focuses on COVID-19 only, diagnosing the difference between the two will be crucial to treatment, health outcomes, and overall health of the population. Specifically, differentiating the pathogens will help medical professionals quickly diagnose and treat more efficiently & efficaciously.

Second, it is a vital tool in helping slow down the spread of COVID-19. Specifically, the speed of transmission is an important point of difference between the two viruses. Influenza has a shorter median incubation period (the time from infection to appearance of symptoms) than COVID-19. Transmission in the first 3-5 days of illness is a major driver for the spread of viral infections. This makes COVID-19 extremely difficult to contain. This is why testing to differentiate the viral infections becomes critical to “slowing the spread.”

Finally, affordability and efficiency. Though the overall cost of an ABC RT-PCR test is approximately 15% to 25% more expensive than an RT-PCR test, providing analysis on all three viruses is significantly cheaper and more affordable than testing for them separately. Moreover, from an efficiency point of view, simultaneously confirming a patient has the flu and does not have COVID-19 from the same collected specimen, allows them, their families and work colleagues to return to a normal life much faster.

BENEFITS TO EMPOWER CLINICS

From a business development point of view, Empower has a high degree of confidence the multiple benefits listed above will translate into significant new business, as evidenced already by the transition of the Company’s recent $1,000,000 test order by a film & tv production from RT-PCR to the new KAI ABC RT-PCR protocol.

“From an R&D perspective, Kai Medical Laboratory is focused on the future and new innovative quality testing to better understand the epidemiology and contagion containment that we have all experienced during this pandemic.” said Yoshi Tyler, President Kai Medical Laboratory. She further states “Kai Medical will continue to be at the forefront of science and innovative quality care by providing value added services, accuracy, and consistency. As such, we believe this will be the first of many successful R&D product announcements in the near future.”

This press release is available on the Empower Clinics Verified Forum on AGORACOM for shareholder discussion, questions and engagement with management https://agoracom.com/ir/EmpowerClinics

ABOUT EMPOWER

Empower is creating a network of physicians and practitioners who integrate to serve patient needs, in-clinic, through telemedicine, and with decentralized mobile delivery. A simplified, streamlined care model bringing key attributes of the healthcare supply chain together, always focused on patient experience. The Company provides COVID-19 testing services to consumers and businesses as part of a four-phased nationwide testing initiative in the United States. Empower recently acquired Kai Medical Laboratory, LLC as a wholly owned subsidiary with large-scale testing capability.

ON BEHALF OF THE BOARD OF DIRECTORS:

Steven McAuley
Chief Executive Officer

CONTACTS:

Investors: Dustin Klein
Director
[email protected]
720-352-1398

Investors: Steven McAuley
CEO
[email protected]
604-789-2146

DISCLAIMER FOR FORWARD-LOOKING STATEMENTS

This news release contains certain “forward-looking statements” or “forward-looking information” (collectively “forward looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. Forward-looking statements in this news release include, but are not limited to, statements regarding: the expected benefits to the Company and its shareholders as a result of the acquisition of Kai Medical Laboratory; the fact that Kai Medical Laboratory will complete the development of ABC RT-PCR test; the development of new accounts using the new test; the transaction terms; the expected number of clinics and patients following the closing; the future potential success of Kai Medical Laboratory, Sun Valley’s franchise model; the anticipated date of closing of the acquisition and the occurrence thereof; and that the Company will be positioned to be a market-leading service provider for complex patient requirements in 2020 and beyond. Such statements are only projections, are based on assumptions known to management at this time, and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: that the Kai Medical Laboratory acquisition may not be completed on the terms expected or at all; that the Company’s products may not work as expected; that the Company may not be able to expand COVID-19 testing; that legislative changes may have an adverse affect on the Company’s business and product development; that the Company may not be able to obtain adequate financing to pursue its business plan; general business, economic, competitive, political and social uncertainties; failure to obtain any necessary approvals in connection with the proposed transaction; and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.

SOURCE: Empower Clinics Inc.

Empower Clinics $CBDT.ca $EPWCF Kai Medical Lab Receives Record Order in Excess of $1,000,000 for COVID-19 Tests from Film and Television Production $WELL.ca $DOC.ca $DOCRF $VMD.ca $VPT.ca $ADK.ca

Posted by AGORACOM-JC at 7:52 AM on Monday, November 16th, 2020
  • Announced that Kai Medical Laboratory has received a record COVID-19 testing order that is anticipated to be in excess of $CAD 1,000,000
  • Today’s announcement represents a repeat and significantly higher purchase order of 9,000 RT-PCR tests to be processed over a four-month period by Kai Medical Laboratory.

VANCOUVER BC / November 16, 2020 / EMPOWER CLINICS INC. (CSE:CBDT)(Frankfurt:8EC)(OTCQB:EPWCF) (“Empower” or the “Company“) an integrated healthcare company serving a database of 165,000 patients through clinics in the southwest United States, a telemedicine platform and medical diagnostics laboratory, is pleased to announce that Kai Medical Laboratory (“KAI”) has received a record COVID-19 testing order that is anticipated to be in excess of $CAD 1,000,000.

9,000 TEST ORDER FOR FILM & TELEVISION PRODUCTION REPRESENTS REPEAT AND RECORD ORDER

In early October, shortly after the acquisition of KAI, Empower announced an agreement to process approximately 1,000 COVID-19 RT-PCR tests for a major film & TV production over a 30-day period, with the possibility of more business upon successful completion of the initial tests.

Today’s announcement represents a repeat and significantly higher purchase order of 9,000 RT-PCR tests to be processed over a four-month period by Kai Medical Laboratory. The total revenue from this order is anticipated to be in excess of $CAN 1,000,000.

Empower Clinics Chairman and CEO, Steven McAuley, stated “Just three days ago we were happy to inform our shareholders that KAI had achieved a record month in October with 1,375 units, as well as, signed numerous new commercial testing contracts, the details of which were to be provided in subsequent press releases. Today’s contract is not one of those contracts. We were informed of this contract at the close of business on Friday. As I said on Friday, the magnitude of KAI’s growth and success can not be overstated. Though we are very happy with today’s record order announcement, these 9,000 tests represent only a fraction of the lab’s capacity of 4,000 COVID-19 RT-PCR tests per day. It is our intention to build on this big success and continue ramping up growth significantly through 2020 and well into 2021.”

NEWLY ACQUIRED KAI MEDICAL LABORATORY HAS PROCESSED TESTS FOR SIX FILM AND TELEVISION PRODUCTIONS

As of September 1st, KAI has already processed tests for six different film and television productions in key US markets including Los Angeles, Atlanta, New York, Dallas and continues to build both confidence and credibility within the industry.

FILM AND TV STUDIOS SEEK FAST AND RELIABLE TESTING SOLUTIONS TO RESUME SAFE OPERATIONS AND MITIGATE BILLIONS IN LOSSES

Total earnings at the North American box office in 2019 amounted to $USD 11.32 billion indicated by Statistica.com. In January 2020, the U.S. motion picture and sound recording industry employed over 456 thousand people, with several hundred thousand more in Canada, U.K. and around the world.

As a result of production closures and cinema shutdowns related to COVID-19, the majority of the industry’s revenues and jobs have been temporarily lost and are now at significant risk of long-term damage, if the industry is unable to find solutions that can provide for the safe resumption of operations.

Specifically, the global film and television industry is projected to lose a staggering $160 billion of growth over the next five years, according to research firm Ampere Analysis.

On November 2nd, AMC Theatres announced a 91% drop in revenues during the most recent earnings period, with losses hitting $906 million in just one quarter.

Empower believes it is ideally positioned through Kai Medical Laboratory to deliver one element of the overall solution with reliable, accurate and fast 24-hour COVID-19 RT-PCR testing, which is the gold standard of testing.

KAI MEDICAL LAB GROWTH STRATEGIES & NEW COMMERCIAL TESTING CONTRACTS

The Company is now implementing aggressive growth strategies, including servicing new COVID-19 testing contracts for the film & television industry, as well as, supporting the Sun Valley Health COVID-19 RT-PCR and rapid antibody testing programs in the state of Arizona.

To this end, Empower has signed numerous new commercial testing contracts, the details of which will be provided in subsequent press releases.

To further assist with COVID-19 testing, Kai Medical Laboratory has also developed two key programs in Texas and Arizona. The first program is a direct-to-consumer program that leverages the ability of various healthcare providers to order and administer both the RT-PCR test and the Antibody test. This increases the ability of the general population to be tested, in certain circumstances. The second is an Employer COVID-19 Compliance Program (ECCP) for business owners and employer groups to enable them to test and monitor their employees.

Texas program https://www.testtexasnow.com

Arizona program https://www.covidtest2u.com

The combination of all this commercial activity since the October 6th acquisition provides the Company with the confidence necessary to support the expectation of much further growth in the months to come.

COVID-19 RT-PCR TESTING IS THE GOLD STANDARD THAT ALLOWS EMPOWER TO ROLL OUT NATIONAL PHASE 4 TESTING PROGRAMS

KAI Medical Laboratory operates a high-complexity CLIA and COLA accredited laboratory that provides reliable and accurate testing solutions to hospitals, medical clinics, pharmacies, and employer groups. KAI has taken an active role in COVID-19 testing, battling the pandemic through RT-PCR testing and serology testing with the capacity to process 4,000 RT-PCR test specimens per day. While the RT-PCR test identifies if a patient has an active virus, the serology or antibody test detects if a patient has previously been exposed to the virus. Both of these test results are vital to managing outbreaks and the potential spread of coronavirus.

As a result of this capability, Empower is now able to expand phase four of its COVID-19 testing rollout which was first announced on April 27, 2020 beginning with testing in-clinic testing (Phase 1) and culminating with a nationwide roll-out across the United States (Phase 4). Phase 4 allows Empower to service enterprise level clients, including movie and television studios that require reliable, accurate, fast and mass batch testing capabilities in order to resume production in a safe and compliant manner.

This press release is available on the Empower Clinics Verified Forum on AGORACOM for shareholder discussion, questions and engagement with management https://agoracom.com/ir/EmpowerClinics

ABOUT EMPOWER

Empower is creating a network of physicians and practitioners who integrate to serve patient needs, in-clinic, through telemedicine, and with decentralized mobile delivery. A simplified, streamlined care model bringing key attributes of the healthcare supply chain together, always focused on patient experience. The Company provides COVID-19 testing services to consumers and businesses as part of a four-phased nationwide testing initiative in the United States. Empower recently acquired Kai Medical Laboratory, LLC as a wholly owned subsidiary with large-scale testing capability.

ON BEHALF OF THE BOARD OF DIRECTORS:

Steven McAuley
Chief Executive Officer

CONTACTS:

Investors:
Dustin Klein
Director
[email protected]
720-352-1398

Investors:
Steven McAuley
CEO
[email protected]
604-789-2146

DISCLAIMER FOR FORWARD-LOOKING STATEMENTS

This news release contains certain “forward-looking statements” or “forward-looking information” (collectively “forward looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. Forward-looking statements in this news release include, but are not limited to, statements regarding: the expected benefits to the Company and its shareholders as a result of the acquisition of Kai Medical Laboratory; the transaction terms; the expected number of clinics and patients following the closing; the future potential success of Kai Medical Laboratory, Sun Valley’s franchise model; the anticipated date of closing of the acquisition and the occurrence thereof; and that the Company will be positioned to be a market-leading service provider for complex patient requirements in 2020 and beyond. Such statements are only projections, are based on assumptions known to management at this time, and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: that the Company’s products may not work as expected; that the Company may not be able to expand COVID-19 testing; that legislative changes may have an adverse affect on the Company’s business and product development; that the Company may not be able to obtain adequate financing to pursue its business plan; general business, economic, competitive, political and social uncertainties; failure to obtain any necessary approvals in connection with the proposed transaction; and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.

VIDEO – Empower Clinics $CBDT.ca $EPWCF Sets Record At NEW Testing Lab AND Says Much More To Come $WELL.ca $DOC.ca $DOCRF $VMD.ca $VPT.ca $ADK.ca

Posted by AGORACOM-JC at 8:25 PM on Sunday, November 15th, 2020

Sometimes, you just have to let the numbers speak for themselves.  With 165,000 patients, Empower Clinics (CBDT:CSE) (EPWCF:OTCQB) has a database that almost every medical cannabis and CBD company would kill for … but then you see these numbers for the first half of the year:

Revenues $USD 1.7M vs $745,000 = 130% Gain

Patient Visits 12,400 vs 5,500 = 125% Gain

CBDT has now delivered growth in 4 successive financial reports (Q4, FY 2019, Q1 and Q2), so it is safe to say that superstar CEO Steve McAuley can officially claim victory on the turnaround he inherited in 2019.

But he is far from done.

Earlier today Empower announced it’s fresh out of the oven, newly acquired Kai Medical Laboratory Achieved Record Testing Volume Month in October and Has Already Signed Numerous New Contracts

Despite officially acquiring KAI on October 5th, Empower was able to walk right into KAI and increase testing volume by 763% sequentially (vs September) to 1,375 units.  While most companies need a couple of months to really start making changes within the operations of new acquisitions, McAuley hit the ground running and even.

How much revenue was generated from these record October tests? CEO McAuley gives us back of the napkin math to play with.

But he is far from done.

Just as Empower did with their clinics, Empower has aggressive growth strategies in place for KAI, including servicing new COVID-19 testing contracts for the:

  • Film & television industry
  • Banks
  • Restaurants
  • Tourism and …. 
  • Supporting the Sun Valley Health COVID-19 RT-PCR and rapid antibody testing programs in the state of Arizona.

One, some or all of these should lead to even bigger numbers in November.  In fact, we asked him if he was “concerned” that he may run out of capacity of 4,000 tests per day (a great concern to have). Wait until you hear his answer.

But just one more thing

Empower announced it:

“has signed numerous new commercial testing contracts, the details of which will be provided in subsequent press releases.”

Somebody get out a calculator

It doesn’t take much to see that KAI has the potential to take Empower to a whole new level.  Specifically, if you’re an investor in Well Health (WELL:TSX) and/or CloudMD (DOC:TSXV) you have to start taking a serious look at Empower as the next great potential health and wellness company.  It’s already proven solid revenues and growth from its clinics, is expanding its telemedicine practice very nicely and now has the power to quickly generate significant enterprise level revenues from its newly acquired KAI medical diagnostics laboratory … which is already bearing fruit just 30 days after the acquisition.

Can McAuley pull it off?  First consider what he has already accomplished after inheriting a catastrophe of a company in early 2019.  Secondly, McAuley is Six Sigma certified under the quality initiative of legendary GE (General Electric) Chairman Jack Welch. We’ve never seen a Six Sigma certified CEO in the Canadian small cap markets. Never …. which explains how McAuley has been able to guide Empower Clinics through the most disruptive retail environment in recent history and turn it into significant growth through Q2 2020. 

And if you MISSED Well Health and CloudMD, you really need to take a close look at Empower as the next great potential small cap health & wellness company.

Watch this amazing interview.

Empower Clinics $CBDT.ca $EPWCF Kai Medical Laboratory Achieves Record Testing Volume Month in October and Signs Numerous New Contracts $WELL.ca $DOC.ca $DOCRF $VMD.ca $VPT.ca $ADK.ca

Posted by AGORACOM-JC at 7:30 AM on Friday, November 13th, 2020

Kai Medical Laboratory, a state-of-the-art diagnostics laboratory in Dallas, was acquired by Empower Clinics on October 6, 2020 to further advance the Company’s COVID-19 national testing programs for enterprise clients, including movie and television studios, businesses and colleges

  • KAI testing volume of 1,375 units in October represents a sequential increase of 763% over testing volume in September of 180 units.
  • Moreover, the increase comes from only a partial month of control under Empower given the acquisition of KAI was only completed on October 6, 2020.
  • Finally, given the very recent closing of the acquisition, the record October results were achieved without the benefit of Empower’s planned sales, marketing and rollout plans for KAI.

VANCOUVER, BC / November 13, 2020 / EMPOWER CLINICS INC. (CSE:CBDT)(Frankfurt:8EC)(OTCQB:EPWCF) (“Empower” or the “Company“) an integrated healthcare company serving a database of 165,000 patients through clinics in the southwest United States, a telemedicine platform and medical diagnostics laboratory, is pleased to announce that Kai Medical Laboratory (“KAI”) has achieved record testing volume for the month of October with 1,375 units processed.

RECORD ACHIEVED IN PARTIAL FIRST MONTH UNDER EMPOWER CLINICS

KAI testing volume of 1,375 units in October represents a sequential increase of 763% over testing volume in September of 180 units. Moreover, the increase comes from only a partial month of control under Empower given the acquisition of KAI was only completed on October 6, 2020. Finally, given the very recent closing of the acquisition, the record October results were achieved without the benefit of Empower’s planned sales, marketing and rollout plans for KAI.

Empower Clinics Chairman and CEO, Steven McAuley, stated “The magnitude of KAI’s growth and success in October cannot be overstated as an example of what is to come. This is especially true given the fact we have yet to fully implement the sales and marketing strategies planned for KAI as we expand our national testing programs for enterprise level clients across America. Though we are very pleased with the results achieved in October, the testing volume of 1,375 units represents a fraction of the lab’s capacity which is capable of achieving 4,000 COVID-19 RT-PCR tests per day. It is our intention to continue ramping up growth significantly through 2020 and well into 2021.”

GROWTH STRATEGIES & NUMEROUS NEW COMMERCIAL TESTING CONTRACTS

The Company is now working through integration and implementing aggressive growth strategies including servicing new COVID-19 testing contracts for the film & television industry, banks, restaurants, tourism and supporting the Sun Valley Health COVID-19 RT-PCR and rapid antibody testing programs in the state of Arizona.

To this end, on October 7th, Empower announced it had commenced COVID-19 RT-PCR tests for a major studio film & television production. On October 19th, Empower announced a partnership with Loop Insights to provide the first ever “travel bubble” solution for the global travel industry.

Finally, Empower has signed numerous new commercial testing contracts, the details of which will be provided in subsequent press releases.

To further assist with COVID-19 testing, Kai Medical Laboratory has also developed two key programs in Texas and Arizona. The first program is a direct-to-consumer program that leverages the ability of various healthcare providers to order and administer both the RT-PCR test and the Antibody test. This increases the ability of the general population to be tested, in certain circumstances. The second is an Employer COVID-19 Compliance Program (ECCP) for business owners and employer groups to enable them to test and monitor their employees.

Texas program https://www.testtexasnow.com

Arizona program https://www.covidtest2u.com

The combination of all this commercial activity since the October 6th acquisition provides the Company with the confidence necessary to support the expectation of much further growth in the months to come.

COVID-19 RT-PCR TESTING IS THE GOLD STANDARD THAT ALLOWS EMPOWER TO ROLL OUT NATIONAL PHASE 4 TESTING PROGRAMS

KAI Medical Laboratory operates a high-complexity CLIA and COLA accredited laboratory that provides reliable and accurate testing solutions to hospitals, medical clinics, pharmacies, and employer groups. KAI has taken an active role in COVID-19 testing, battling the pandemic through RT-PCR testing and serology testing with the capacity to process 4,000 RT-PCR test specimens per day. While the RT-PCR test identifies if a patient has an active virus, the serology or antibody test detects if a patient has previously been exposed to the virus. Both of these test results are vital to managing outbreaks and the potential spread of coronavirus.

As a result of this capability, Empower is now able to expand phase four of its COVID-19 testing rollout which was first announced on April 27, 2020 beginning with testing in-clinic testing (Phase 1) and culminating with a nationwide roll-out across the United States (Phase 4). Phase 4 allows Empower to service enterprise level clients, including movie and television studios that require reliable, accurate, fast and mass batch testing capabilities in order to resume production in a safe and compliant manner.

The Company has also granted an aggregate of 1,079,666 stock options (each, an “Option“) to certain key employees of the Company in accordance with the Company’s stock option plan priced at $0.05 CAD and 1,500,000 Options priced at $0.08 CAD to an investor relations service provider.

This press release is available on the Empower Clinics Verified Forum on AGORACOM for shareholder discussion, questions and engagement with management https://agoracom.com/ir/EmpowerClinics

ABOUT EMPOWER

Empower is creating a network of physicians and practitioners who integrate to serve patient needs, in-clinic, through telemedicine, and with decentralized mobile delivery. A simplified, streamlined care model bringing key attributes of the healthcare supply chain together, always focused on patient experience. The Company provides COVID-19 testing services to consumers and businesses as part of a four-phased nationwide testing initiative in the United States. Empower recently acquired Kai Medical Laboratory, LLC as a wholly owned subsidiary with large-scale testing capability.

ON BEHALF OF THE BOARD OF DIRECTORS:

Steven McAuley
Chief Executive Officer

CONTACTS:

Investors: Dustin Klein
Director
[email protected]
720-352-1398

Investors: Steven McAuley
CEO
[email protected]
604-789-2146

DISCLAIMER FOR FORWARD-LOOKING STATEMENTS

This news release contains certain “forward-looking statements” or “forward-looking information” (collectively “forward looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. Forward-looking statements in this news release include, but are not limited to, statements regarding: the expected benefits to the Company and its shareholders as a result of the acquisition of Kai Medical Laboratory; the transaction terms; the expected number of clinics and patients following the closing; the future potential success of Kai Medical Laboratory, Sun Valley’s franchise model; the anticipated date of closing of the acquisition and the occurrence thereof; and that the Company will be positioned to be a market-leading service provider for complex patient requirements in 2020 and beyond. Such statements are only projections, are based on assumptions known to management at this time, and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: that the Kai Medical Laboratory acquisition may not be completed on the terms expected or at all; that the Company’s products may not work as expected; that the Company may not be able to expand COVID-19 testing; that legislative changes may have an adverse effect on the Company’s business and product development; that the Momentum Health acquisition may not be completed on the terms expected or at all; that the Company may not be able to obtain adequate financing to pursue its business plan; general business, economic, competitive, political and social uncertainties; failure to obtain any necessary approvals in connection with the proposed transaction; and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.

SOURCE: Empower Clinics Inc.

Empower Clinics $CBDT.ca Announces Closing of $1.228 Million Private Placement Financing and Insider Subscription $WELL.ca $DOC.ca $DOCRF $VMD.ca $VPT.ca $ADK.ca

Posted by AGORACOM-JC at 3:59 PM on Monday, November 9th, 2020
  • Closed its previously announced private placement of units of the Company, which included the exercise of an over-allotment option, pursuant to which the Company issued 24,567,131 Units at a price of $0.05 per Unit for aggregate gross proceeds of $1,228,356.55
  • The Offering was led by Mackie Research Capital Corporation, as sole agent and sole bookrunner

VANCOUVER, BC / November 9, 2020 / Empower Clinics Inc. (“Empower” or the “Company“) (CSE:CBDT), is pleased to announce that it has closed its previously announced private placement of units of the Company (the “Units“), which included the exercise of an over-allotment option, pursuant to which the Company issued 24,567,131 Units at a price of $0.05 per Unit (the “Offering Price“) for aggregate gross proceeds of $1,228,356.55 (the “Offering“). The Offering was led by Mackie Research Capital Corporation, as sole agent and sole bookrunner (the “Agent“).

Each Unit is comprised of one common share of the Company (a “Common Share“) and one Common Share purchase warrant (a “Warrant“), with each Warrant exercisable to acquire one Common Share (a “Warrant Share“) at a price of $0.12 per Warrant Share for a period of 24 months from the closing of the Offering.

The Company is also pleased to announce that Steven McAuley, the Chief Executive Officer a director of the Company, participated in the Offering by subscribing for 1,200,000 Units for $60,000.

The Company intends to use the net proceeds raised under the Offering to support the objective of clinic growth, lab testing services, sales and marketing, for general working capital purposes.

In connection with the Offering, the Agent received an aggregate cash fee of $88,000. In addition, the Company granted the Agent compensation options (the “Compensation Options“) exercisable for 1,760,000 Units at an exercise price equal to the Offering Price for a period of 24 months following the closing of the Offering.

The subscription by Mr. McAuley is deemed, “related party transaction” as defined under Multilateral Instrument 61-101 (“MI 61-101”). The transaction is exempt from the formal valuation requirements of MI 61-101 since none of the securities of the Company are listed on a stock exchange specified in section 5.5(b) thereof. The transaction is exempt from the minority shareholder approval requirements of MI 61-101 since, at the time the transaction was agreed to, neither the fair market value of the transaction nor the fair market value of the consideration for the transaction, insofar as it involves interested parties, exceeded 25% of the Company’s market capitalization.

The securities issued pursuant to the Offering will be subject to a four-month hold period under applicable securities laws in Canada.

In connection with the Offering, $18,356.55 of the subscription funds are a result of a settlement with an arm’s length service provider of through the issuance of 367,131 Units.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

ABOUT EMPOWER

Empower is creating a network of physicians and practitioners who integrate to serve patient needs, in-clinic, through telemedicine, and with an expanded suite of physician-based services. A simplified, streamlined care model bringing key attributes of the healthcare supply chain together, always focused on patient experience. The Company provides COVID-19 testing services to consumers and businesses as part of a four-phased nationwide testing initiative in the United States. Empower recently acquired Kai Medical Laboratory, LLC as a wholly owned subsidiary with large-scale testing capability and will lead our diagnostic and scientific advancement.

ON BEHALF OF THE BOARD OF DIRECTORS

Steven McAuley
Chief Executive Officer

CONTACTS:

Investors: Dustin Klein
Director
[email protected]
720-352-1398

Investors: Steven McAuley
CEO
[email protected]
604-789-2146

Neither the Canadian Securities Exchange nor its Regulation Service Provider has reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

SOURCE: Empower Clinics Inc.

Empower Clinics $CBDT.ca Growth Strategy Accelerates With Recent Major Initiatives. Updates Status And Outlook Into 2021 $WELL.ca $DOC.ca $DOCRF $VMD.ca $VPT.ca $ADK.ca

Posted by AGORACOM-JC at 7:23 AM on Monday, November 2nd, 2020

2020 Revenue Growth The Company has experienced significant revenue growth over the past year as evidenced by the following results:

  • 2019 + 86% To $2.03M
  • Q4 + 217% To $625,000
  • Q1 + 416% To $790,000
  • Q2 + 56% To $923,000

This performance has translated into the following year-to-date in 2020:

  • Revenue $1.7M vs $745K = 130% Growth
  • Patient Visits 12,400 vs 5,500 = 125% Growth

VANCOUVER BC / November 2, 2020 / EMPOWER CLINICS INC. Empower Clinics (CBDT:CSE)(EPWCF:OTC)(8EC:FRA) (the “Company” or “Empower“), an integrated healthcare company serving a database of 165,000 patients through clinics in the southwest United States, a telemedicine platform and medical diagnostics laboratory, is pleased to provide shareholders with a status report on many initiatives announced over the past several weeks for the purposes of providing greater visibility into the Company’s outlook into 2021.

Steven McAuley, CEO of Empower Clinics stated “2020 is the year that established Empower Clinics as a formidable Health & Wellness Company with a solid foundation and great growth prospects. Given the speed at which we have been moving since I took over the leadership reigns in 2019, it is prudent to take a moment to provide our shareholders with both a current snapshot, as well as, our expectations for continued growth into 2021.”

HIGHLIGHTS & UPDATES

  • 2020 Revenue Growth The Company has experienced significant revenue growth over the past year as evidenced by the following results:
    • 2019 + 86% To $2.03M
    • Q4 + 217% To $625,000
    • Q1 + 416% To $790,000
    • Q2 + 56% To $923,000

This performance has translated into the following year-to-date in 2020:

  • Revenue $1.7M vs $745K = 130% Growth
  • Patient Visits 12,400 vs 5,500 = 125% Growth

Going forward, given the Company’s diversification into telemedicine, COVID-19 testing, medical laboratory testing for enterprise customers, and the proposed clinic expansion into Canada, all of which serves to diversify Empower well beyond our Southwestern U.S. clinic operations, going forward “patient visits” will be just one of many of the Company’s overall KPI’s (Key Performance Indicators).

  • Kai Medical Laboratory COVID-19 Testing Growth Includes Film & Television Industry Empower completed the closing of the Kai Medical Laboratory acquisition with the signing of the Member Purchase Interest Agreement October 5, 2020 and then subsequently completed the filing of all required regulatory documents with the State of Texas and other regulatory bodies.

The Company is now working through integration and implementing aggressive growth strategies including servicing new COVID-19 testing contracts for the film & television industry and supporting the Sun Valley Health COVID-19 RT-PCR and rapid antibody testing programs in the state of Arizona.

  • Sun Valley Health COVID-19 Regional Testing Growth Sun Valley Health with the support of Kai Medical Laboratory testing and medical billing capabilities, is expanding its RT-PCR testing with the commencement of drive-up testing for consumers in Mesa, Arizona and within clinic locations. The program allows the Company to provide free COVID-19 testing for consumers with Medicare and Medicaid insurance coverage in Arizona and for consumers who do not have active health insurance coverage in the state.
  • $1,100,000 Proposed Private Placement The previously announced proposed private placement with Mackie Research Capital Corporation as sole agent and sole bookrunner (the “Agent”) on October 21, 2020 remains on track for closing as planned on or about the week of November 2, 2020.
  • Canadian Clinic Acquisition The recently announced non-binding term sheet for the acquisition of Lawrence Park Health and Wellness Clinic Inc., 1100900 Canada Inc. dba Atkinson, and Momentum Health Inc. collectively (“Momentum Health”) is progressing as planned through the final due diligence phase with an anticipated closing in November 2020.
  • Q3 2020 Financial Statements The Company anticipates filing its third quarter 2020 financial statements and MD&A well in advance of the November 30, 2020 filing deadline. Financial and accounting controls supported by CFO Kyle Appleby enable the Company to maintain high compliance standards.

McAuley went on to say “Our company is rapidly evolving into providing an integrated healthcare experience that spans from testing to treatment by combining cutting edge technologies including telemedicine and state of the art lab testing. Add to this the fact that we are now serving enterprise level clients as promised and partnering on initiatives such as our recently announced travel bubble, it’s safe to say we are on the path to becoming a formidable small cap health & wellness company in 2021. I want to thank our loyal shareholders for trusting my leadership transition, welcome all of our newest shareholders and we look forward to delivering continued accelerated growth in 2021 and well beyond.”

ABOUT EMPOWER:

Empower is creating a network of physicians and practitioners who integrate to serve patient needs, in-clinic, through telemedicine, and with an expanded suite of physician-based services. A simplified, streamlined care model bringing key attributes of the healthcare supply chain together, always focused on patient experience. The Company provides COVID-19 testing services to consumers and businesses as part of a four-phased nationwide testing initiative in the United States. Empower recently acquired Kai Medical Laboratory, LLC as a wholly owned subsidiary with large-scale testing capability and will lead our diagnostic and scientific advancement.

ON BEHALF OF THE BOARD OF DIRECTORS:

Steven McAuley

Chief Executive Officer

CONTACTS:

Investors:
Dustin Klein
Director
[email protected]
720-352-1398

Investors:
Steven McAuley
CEO
[email protected]
604-789-2146

DISCLAIMER FOR FORWARD-LOOKING STATEMENTS

This news release contains certain “forward-looking statements” or “forward-looking information” (collectively “forward looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. Forward-looking statements in this news release include, but are not limited to, statements regarding: the expected benefits to the Company and its shareholders as a result of the acquisition of Kai Medical Laboratory; the anticipated date of closing of the Momentum Health acquisition and the occurrence thereof; the expected number of clinics and patients following the proposed closing; the future potential success of Kai Medical Laboratory; the future success of the Sun Valley’s franchise model; the completion of the private placement, date of closing or the occurrence of a closing; the impact if any of COVID-19 testing by Sun Valley Health and that the Company will be positioned to be a market-leading service provider for complex patient requirements in 2020 and beyond. Such statements are only projections, are based on assumptions known to management at this time, and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: that the Momentum Health acquisition may not be completed on the terms expected or at all; that the Company’s products may not work as expected; that the Company may not be able to expand COVID-19 testing; that legislative changes may have an adverse effect on the Company’s business and product development; that the Company may not be able to obtain adequate financing to pursue its business plan; general business, economic, competitive, political and social uncertainties; failure to obtain any necessary approvals in connection with the proposed transaction; and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.

Empower Clinics $CBDT.ca Enters Canadian Market with Proposed Acquisition That Includes 6 Clinics and Incentives to Open Additional 30 Clinics and Announces Private Placement of Up to $1.1 Million $VPT.ca $ADK.ca

Posted by AGORACOM-JC at 5:14 PM on Wednesday, October 21st, 2020
  • Announced it has entered into a non-binding term sheet to acquire the businesses of Lawrence Park Health and Wellness Clinic Inc., 1100900 Canada Inc dba Atkinson, and Momentum Health Inc. collectively (“Momentum Health“).
  • Momentum Health operates a network of medical clinics with a comprehensive team of physicians and therapists who apply a holistic and hands on approach working with patients to unlock potential well-being.
  • 6 clinics in greater Toronto area with plans to expand
  • Closing will be conditional upon, amongst other customary items listed below, Empower completing a debt or equity financing to raise minimum gross proceeds of $750,000 CAD
  • To this end, the Company has entered into an agreement with Mackie Research Capital Corporation in connection with a best efforts, private placement for gross proceeds of up to $1,100,000, the details of which are outlined below
  • The private placement is scheduled to close on or about the week of November 2, 2020.

Acquisition Expands Company’s North American Footprint And Strengthens Vertical Integration From Patients To Laboratory

VANCOUVER, BC / October 21, 2020 / Empower Clinics (CSE:CBDT)(OTC PINK:EPWCF)(FRA:8EC) (the “Company” or “Empower“), a vertically integrated health and wellness company serving a database of 165,000 patients through clinics in the southwest United States, a telemedicine platform and a world-class medical diagnostics laboratory, is pleased to announce it has entered into a non-binding term sheet to acquire the businesses of Lawrence Park Health and Wellness Clinic Inc., 1100900 Canada Inc dba Atkinson, and Momentum Health Inc. collectively (“Momentum Health“).

Closing will be conditional upon, amongst other customary items listed below, Empower completing a debt or equity financing to raise minimum gross proceeds of $750,000 CAD. To this end, the Company has entered into an agreement with Mackie Research Capital Corporation in connection with a best efforts, private placement for gross proceeds of up to $1,100,000, the details of which are outlined below. The private placement is scheduled to close on or about the week of November 2, 2020.

Closing of the acquisition is expected to occur on or about November 10, 2020.

6 CLINICS IN GREATER TORONTO AREA WITH PLANS TO EXPAND MODEL ACROSS CANADA

Momentum Health operates a network of medical clinics with a comprehensive team of physicians and therapists who apply a holistic and hands on approach working with patients to unlock potential well-being. Key services include Physiotherapy, Chiropractic, Massage Therapy, Traditional Chinese Medicine, Athletic Therapy and others.

The proposed acquisition will include the acquisition of two standalone wellness clinics and four new co-located clinics in the Greater Toronto area of Ontario, Canada. Moreover, the proposed acquisition includes incentives for the two Co-Founders of Momentum Health to open an additional 30 clinics across Canada.

Steven McAuley, Chairman and CEO of Empower Clinics stated, “The acquisition of Momentum Health is expected to advance the direction and growth prospects for Empower overall,” said Steven McAuley, Empowers Chairman & CEO. “As we continue to position Empower as an integrated healthcare company, bringing alternative care together with primary care facilities enables us to deploy a better healthcare model, based on progressive technology and in-person care. Having Dr. Rabinowitz and Dr. Tsimerman join me in leadership to rapidly expand Empowers clinic footprint across Canada is another important step toward our growth objectives.”

Momentum Health Co-Founder Dr. Rabinowitz commented “Our core values of professionalism, corporate responsibility and community health fall directly in line with Empower. We are extremely excited to collaborate with this tremendous organization to provide reliable and trusted healthcare for communities across Canada.”

Momentum Health Co-Founder Dr. Tsimerman commented “Momentum Health has always stood on the foundations of providing an unparalleled patient experience and bridging the gap between the conventional medical system and paramedical services.”

PROPOSED TERMS OF ACQUISITION

Under the proposed terms, the Company will pay $275,000 CAD cash at closing and a $75,000 CAD performance holdback, for an aggregate cash payment of $350,000 CAD. In addition, at closing, Empower will issue Dr. Jordan Rabinowitz and Dr. Aviv Tsimerman common shares in the capital of Empower (“Shares“) having an aggregate value of $250,000 CAD and, subject to the satisfaction of defined performance metrics, additional Shares having an aggregate value of $250,000 CAD, which will vest in quarterly installments over 24 months following the closing. All Share consideration is expected to be based on a deemed price per Share equal to the 10-day volume weighted average closing price per Share on the Canadian Securities Exchange (the “CSE“) for the period ending on the last business day prior to the closing.

PERFORMANCE INCENTIVES TO OPEN 30 ADDITIONAL LOCATIONS

The proposed acquisition also includes long-term performance incentives that upon achieving the opening of:

Ten (10) new clinic locations (“Milestone One”) the issuance to the Vendors subject to terms and conditions as set out in the Stock Option Plan, an irrevocable option (the “Share Option“) to purchase at any time or from time to time on or before the Expiration Date, 1,250,000 Shares of the Corporation.

Twenty (20) new clinic locations (“Milestone Two”) the issuance to the Vendors subject to terms and conditions as set out in the Stock Option Plan, an irrevocable Share Option to purchase at any time or from time to time on or before the Expiration Date, 1,250,000 Shares of the Corporation.

Thirty (30) new clinic locations (“Milestone Three”) the issuance to the Vendors subject to terms and conditions as set out in the Stock Option Plan, an irrevocable Share Option to purchase at any time or from time to time on or before the Expiration Date, 1,250,000 Shares of the Corporation.

All issuances will be at a deemed price per Share equal to the 10-day volume weighted average closing price per Share on the CSE for the period ending on the last business day prior to the achievement of Milestone One, Two or Three.

ADDITIONAL DETAILS

The proposed consideration assumes a debt free transaction and will be adjusted accordingly for any level of debt assumed by the Company, directly or indirectly. The transaction is expected to be structured on a tax efficient basis, and otherwise in accordance with the requirements of requisite securities laws and the policies of the CSE.

Empower has agreed to enter into employment agreements with Dr. Rabinowitz and Dr. Tsimerman, to lead the proposed Canadian clinic expansion strategy.

Completion of the transaction includes Momentum Health interests in certain affiliates and will be subject to various conditions, including entry into a definitive agreement, completion of due diligence, and receipt of all required shareholder, manager, third party and regulatory approvals, including approval of the CSE.

PRIVATE PLACEMENT

The Company is also pleased to announce that it has entered into an agreement with Mackie Research Capital Corporation, as sole agent and sole bookrunner (the “Agent“), in connection with a best efforts, private placement of units of the Company (the “Units“) at a price of $0.05 per Unit (the “Offering Price“) for gross proceeds of up to $1,100,000 (the “Offering“).

Each Unit will be comprised of one common share of the Company (a “Common Share“) and one Common Share purchase warrant (a “Warrant“). Each Warrant shall be exercisable to acquire one Common Share (a “Warrant Share“) at a price of $0.12 per Warrant Share for a period of 24 months from the closing of the Offering.

The Agent will have an option (the “Agent’s Option“) to offer for sale up to an additional 15% of the number of Units sold in the Offering at the Offering Price, which Agent’s Option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering.

The Company intends to use the proceeds raised under the Offering to support the development of clinics through clinic acquisitions, lab testing services, sales and marketing, for general working capital purposes.

The securities to be issued under the Offering will be offered by way of private placement in each of the provinces of Canada, and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.

The Offering is scheduled to close on or about the week of November 2, 2020, or such date as agreed upon between the Company and Agent (the “Closing“) and Closing of the Offering may occur in multiple tranches, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Canadian Securities Exchange. The Units to be issued under the Offering will have a hold period of four months and one day from Closing.

In connection with the Offering, the Agent will receive an aggregate cash fee equal to 8.0% of the gross proceeds from the Offering, including in respect of any exercise of the Agent’s Option. In addition, the Company will grant the Agent, on date of Closing, non-transferable compensation options (the “Compensation Options“) equal to 8.0% of the total number of Units sold under the Offering (including in respect of any exercise of the Agent’s Option). Each Compensation Option will entitle the holder thereof to purchase one Unit at an exercise price equal to the Offering Price for a period of 24 months following the Closing.

The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.

This press release is available on the Empower Clinics Verified Forum on AGORACOM for shareholder discussion, questions and engagement with management https://agoracom.com/ir/EmpowerClinics

ABOUT EMPOWER:

Empower is creating a network of physicians and practitioners who integrate to serve patient needs, in-clinic, through telemedicine, and with decentralized mobile delivery. A simplified, streamlined care model bringing key attributes of the healthcare supply chain together, always focused on patient experience. The Company provides COVID-19 testing services to consumers and businesses as part of a four-phased nationwide testing initiative in the United States. Empower recently acquired Kai Medical Laboratory, LLC as a wholly owned subsidiary with large-scale testing capability.

ON BEHALF OF THE BOARD OF DIRECTORS:

Steven McAuley
Chief Executive Officer

CONTACTS:

Investors:
Dustin Klein
Director
[email protected]
720-352-1398

Investors:
Steven McAuley
CEO
[email protected]
604-789-2146

DISCLAIMER FOR FORWARD-LOOKING STATEMENTS

This news release contains certain “forward-looking statements” or “forward-looking information” (collectively “forward looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. Forward-looking statements in this news release include, but are not limited to, statements regarding: the expected benefits to the Company and its shareholders as a result of the acquisition of Kai Medical Laboratory; the transaction terms; the expected number of clinics and patients following the closing; the future potential success of Kai Medical Laboratory, Sun Valley’s franchise model; the anticipated date of closing of the acquisition and the occurrence thereof; and that the Company will be positioned to be a market-leading service provider for complex patient requirements in 2020 and beyond. Such statements are only projections, are based on assumptions known to management at this time, and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: that the Momentum Health acquisition may not be completed on the terms expected or at all; that the Company’s products may not work as expected; that the Company may not be able to expand COVID-19 testing; that legislative changes may have an adverse effect on the Company’s business and product development; that the Company may not be able to obtain adequate financing to pursue its business plan; general business, economic, competitive, political and social uncertainties; failure to obtain any necessary approvals in connection with the proposed transaction; and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.

SOURCE: Empower Clinics Inc.

VIDEO – Empower Clinics $CBDT.ca Acquires Testing Lab And Lands First COVID-19 Testing Contract For Major Film & TV Studio $VPT.ca $ADK.ca

Posted by AGORACOM-JC at 6:42 PM on Wednesday, October 7th, 2020

Sometimes, you just have to let the numbers speak for themselves.  With 165,000 patients, Empower Clinics (CBDT:CSE) (EPWCF:OTCQB) has a database that almost every medical cannabis and CBD company would kill for … but then these numbers came in for the first two quarters:

Revenues $USD 1.7M vs $745,000 = 130% Gain

Patient Visits 12,400 vs 5,500 = 125% Gain

CBDT has now delivered growth in 4 successive financial reports (Q4, FY 2019, Q1 and Q2), so it is safe to say that superstar CEO Steve McAuley can officially claim victory on the turnaround he inherited in 2019.

But he is far from done.

In the last 36 hours, Empower announced:

1.  The acquisition of an 8,000 sq ft lab in Dallas (they do everything big over there) that can process 4,000 COVID-19 tests per day.  At the lowest price of $USD 80 per test and operating on just 1,000 tests per day, the clinic would deliver $USD 80,000 in revenue PER DAY.  We will let you do the math with the combination of higher prices + more tests per day.

2.  An agreement to run 1,000 COVID-19 RT-PCR Tests for a major film & TV studio, which could lead to much more business if all goes well with this first batch. To this end, the lab has already processed tests for six different film and television productions since September 1st (prior to the acquisition) and continues to build both confidence and credibility within the industry.

It doesn’t take much to see that the lab has the potential to take Empower to a whole new level.  Specifically, if you’re an investor in Well Health (WELL:TSX) and/or CloudMD (DOC:TSXV) you have to start taking a serious look at Empower as the next great potential health and wellness company.  It’s already proven solid revenues and growth from its clinics, is expanding its telemedicine practice very nicely and now has the power to quickly generate significant enterprise level revenues from its newly acquired medical diagnostics laboratory … which is already bearing fruit just 24 hours after the acquisition.

Can McAuley pull it off?  First consider what he has already accomplished after inheriting a catastrophe of a company in early 2019.  Secondly, McAuley is Six Sigma certified under the quality initiative of legendary GE (General Electric) Chairman Jack Welch. We’ve never seen a Six Sigma certified CEO in the Canadian small cap markets. Never …. which explains how McAuley has been able to guide Empower Clinics through the most disruptive retail environment in recent history and turn it into significant growth through Q2 2020 … with some jet fuel now added here in Q4.

And if you MISSED Well Health and CloudMD, you really need to take a close look at Empower as the next great small cap health & wellness company.

Watch this interview or listen by Podcast on AppleGoogleSpotify or your favourite podcaster.

Empower Clinics $CBDT.ca Acquires Medical Laboratory Capable of Processing 4,000 #COVID-19 RT-PCR Tests Per Day $VPT.ca $ADK.ca

Posted by AGORACOM-JC at 7:02 AM on Tuesday, October 6th, 2020

Kai Medical Laboratory, a state-of-the-art diagnostics laboratory in Dallas, TX, will advance Empower COVID-19 national testing programs for enterprise clients, including movie and television studios, businesses, colleges and universities

  • Pursuant to the terms of a membership interest purchase agreement dated October 5, 2020, has completed the acquisition of Kai Medical Laboratory, LLC (“KAI“) from KTM5 Holdings, LLC, NULV11, LLC and Consistent Investment Group, LLC (together, the “Vendors“), through its wholly-owned subsidiary, Empower Healthcare Assets Inc. (“Empower Health“), for consideration having an aggregate value of US$1,971,857 (CAD$2,613,478), effective as of October 5, 2020 (the “Transaction“).

VANCOUVER BC / October 6, 2020 / EMPOWER CLINICS INC. (CSE:CBDT) (Frankfurt:8EC) (OTCQB:EPWCF) (“Empower” or the “Company“) is pleased to announce that, pursuant to the terms of a membership interest purchase agreement dated October 5, 2020, has completed the acquisition of Kai Medical Laboratory, LLC (“KAI“) from KTM5 Holdings, LLC, NULV11, LLC and Consistent Investment Group, LLC (together, the “Vendors“), through its wholly-owned subsidiary, Empower Healthcare Assets Inc. (“Empower Health“), for consideration having an aggregate value of US$1,971,857 (CAD$2,613,478), effective as of October 5, 2020 (the “Transaction“).

COVID-19 RT-PCR TESTING IS THE GOLD STANDARD THAT ALLOWS EMPOWER TO ROLL OUT NATIONAL PHASE 4 TESTING PROGRAMS

KAI Medical Laboratory operates a high-complexity CLIA and COLA accredited laboratory that provides reliable and accurate testing solutions to hospitals, medical clinics, pharmacies, and employer groups. KAI has taken an active role in COVID-19 testing, battling the pandemic through RT-PCR testing and serology testing with the capacity to process 4,000 RT-PCR test specimens per day. While the RT-PCR test identifies if a patient has an active virus, the serology or antibody test detects if a patient has previously been exposed to the virus. Both of these test results are vital to managing outbreaks and the potential spread of coronavirus.

As a result of this capability, Empower is now able to expand phase four of its COVID-19 testing rollout which was first announced on April 27, 2020 beginning with testing in-clinic testing (Phase 1) and culminating with a nationwide roll-out across the United States (Phase 4). Phase 4 allows Empower to service enterprise level clients, including movie and television studios that require reliable, accurate, fast and mass batch testing capabilities in order to resume production in a safe and compliant manner.

“Adding Kai Medical Laboratory to the Empower Clinics family enables us to dramatically expand COVID-19 testing capability, for our get back to work & get back to school initiatives as part of our national rollout plans” said Steven McAuley, Empower’s Chairman & CEO. “Kai Medical has a newly built high-complexity lab offering a wide array of testing services, that we will leverage to serve the massive demand for national COVID testing in the U.S. Additionally, as flu season arrives and a potential second-wave of COVID takes hold, the technical infrastructure of Kai Medical allows Empower to capture testing demand and bring new technical testing products to market.”

COVID-19 TESTING PROGRAMS FOR EMPLOYERS AND DIRECT TO CONSUMER ALREADY UNDERWAY AT KAI LABORATORY

To further assist with COVID-19 testing, Kai Medical Laboratory has also developed two key programs in Texas and Arizona. The first program is a direct-to-consumer program that leverages the ability of various healthcare providers to order and administer both the RT-PCR test and the Antibody test. This increases the ability of the general population to be tested, in certain circumstances. The second is an Employer COVID-19 Compliance Program (ECCP) for business owners and employer groups to enable them to test and monitor their employees.

Texas program https://www.testtexasnow.com

Arizona program https://www.covidtest2u.com

Finally, beyond its COVID-19 capabilities, Kai Medical Laboratory offers a wide array of testing services ranging from hematology to hormone testing, endocrinology, toxicology, and immunology. These tests are done under the supervision of its well-qualified and highly experienced scientists, medical professionals and pharmacists.

KAI MEDICAL LABORATORY TEAM LEAD BY YOSHI TYLER

The driving force behind Kai Medical Laboratory’s remarkable growth and success is Yoshi Tyler. Yoshi has a passion for being an entrepreneur, and over time, she found her true calling in healthcare. Driven by this interest, she pursued her career in the healthcare industry for more than two decades. She held leadership positions at a Fortune 500 pharmaceutical company for over thirteen years. These leadership experiences provided her with in-depth knowledge and industry insights that helped her to lead Kai Medical Laboratory towards growth.

The Kai Medical Laboratory team includes key roles including Principal Scientist, Director of Operations, Molecular Scientist, Quality Assurance, Lab Director and other critical roles.

“Kai Medical Laboratory is inspired by science and built on integrity and joining Empower allows our highly skilled personnel and state-of-the-art instrumentation to expand from a local community level to a national level” says Yoshi Tyler, Founder of Kai Medical. “Our mission is to change healthcare through science & innovative quality care, and with Empower providing an expansion of resources, Kai Medical Laboratory will be in a position to help the national need for expanded COVID-19 testing as the second wave commences.”

ADDITIONAL TERMS OF THE ACQUISITION

In connection with the closing of the Transaction (the “Closing“), Empower; (i) assumes certain short term and long term liabilities comprised of the SBA Loan of (US$1,139,577), the EIDL Loan of (US$150,000), the PPP Loan of (US$86,379), revolving debt of (US$89,478), (ii), accounts payable of (US$192,460), (iii) other short term and long term liabilities of (US$313,963), in total equal to the amount of US$1,971,857 (CAD$2,613,478), (the “Assumed Indebtedness“); the issuance of options to purchase common shares of Buyer Parent at an exercise price of CDN$0.05 per share, subject to the terms and conditions of each of the Option Agreements, in an amount equal to 400,000 share options to Yoshi Tyler, as the principal of KTM5, and 100,000 share options to Michael Haines, as the principal of NULV11 (the “Options“); and the issuance of a warrant certificate to Continuous Investment Group, LLC to purchase 500,000 common shares of Buyer Parent at a purchase price of CDN$0.05 per share, subject to the terms and conditions of the Warrant Certificate (the “Warrants“).

Market Leading Technology Kai Medical Laboratory utilizes state-of-the-art instrumentation, preeminent testing methodologies, and laboratory services enabling high-complexity accredited laboratory testing solutions, providing some of the following key instrument testing capabilities:

  • Thermo Fisher – QuantStudio 12K Flex
    • COVID-19 testing
    • Cannabis Testing
    • Clinical Genomics
  • Roche Cobas 6000
    • COVID-19 Antibody testing
    • Clinical Chemistry/Endocrinology
  • AB SCIEX 6500+ – Liquid Chromatography Mass Spectrometry
    • Clinical Chemistry/Endocrinology
    • Agriculture/Cannabis testing
  • AB SCIEX 4500 – Liquid Chromatography Mass Spectrometry
    • Urine Toxicology
    • Cannabis testing
  • SYSMEX XN-550
    • Hematology

(CLIA) The Clinical Laboratory Improvement Amendments regulate laboratory testing and require clinical laboratories to be certified by the Center for Medicare and Medicaid Services (CMS) before they can accept human samples for diagnostic testing.

(COLA) is the premier clinical laboratory accreditation, education and consultation organization. An independent accreditor whose practical, educational standards have a positive and immediate impact on patient care. http://www.cola.org

ABOUT EMPOWER

Empower is an integrated health & wellness company with a network of corporate and franchised health & wellness clinics in the U.S. The Company is focused on helping patients improve and protect their health, through innovative physician recommended treatment options. The Company has launched Dosed Wellness Ltd. to connect its significant data, to the potential of the efficacy of alternative treatment options related to hemp-derived cannabidiol (CBD) therapies, psilocybin and other psychedelic plant-based treatment options. The Company provides COVID-19 testing services to consumers and businesses as part of a four-phased nationwide testing initiative.

ABOUT Kai Medical Laboratory

Our mission is to change healthcare through science & innovative quality care by providing value added services, accuracy, and consistency. Our unwavering commitment to quality compliance and scientific innovation elevates Kai Medical Laboratory to a new standard in patient care. Kai Medical Laboratory is located in the Dallas Medical District in close proximity to some of the largest healthcare groups in the U.S. including Parkland Hospital, UT Southwestern, Children’s Medical Center, Baylor Scott & White Health (Dallas), Tenet Healthcare (Dallas), CHRISTUS Healthcare (Dallas).

ON BEHALF OF THE BOARD OF DIRECTORS:

Steven McAuley
Chief Executive Officer

CONTACTS:

Investors:
Dustin Klein
Director
[email protected]
720-352-1398

Investors:
Steven McAuley
CEO
[email protected]
604-789-2146

DISCLAIMER FOR FORWARD-LOOKING STATEMENTS

This news release contains certain “forward-looking statements” or “forward-looking information” (collectively “forward looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates”, “may”, “will”, “potential”, “proposed” and other similar words, or information that certain events or conditions “may” or “will” occur. Forward-looking statements in this news release include, but are not limited to, statements regarding: the expected benefits to the Company and its shareholders as a result of the acquisition of Kai Medical Laboratory; the transaction terms; the expected number of clinics and patients following the closing; the future potential success of Kai Medical Laboratory, Sun Valley’s franchise model; the anticipated date of closing of the acquisition and the occurrence thereof; and that the Company will be positioned to be a market-leading service provider for complex patient requirements in 2020 and beyond. Such statements are only projections, are based on assumptions known to management at this time, and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: that the Kai Medical Laboratory acquisition may not be completed on the terms expected or at all; that the Company’s products may not work as expected; that the Company may not be able to expand COVID-19 testing; that legislative changes may have an adverse affect on the Company’s business and product development; that the Company may not be able to obtain adequate financing to pursue its business plan; general business, economic, competitive, political and social uncertainties; failure to obtain any necessary approvals in connection with the proposed transaction; and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable laws.

SOURCE: EMPOWER CLINICS INC.

VIDEO – Empower Clinics $CBDT.ca Grows Revenues 130%, Patient Visits 125% And Becomes Cash Flow Positive $WEED.ca $CGC $ACB $APH $CRON.ca $OGI.ca

Posted by AGORACOM-JC at 4:03 PM on Wednesday, September 16th, 2020

Sometimes, you just have to let the numbers speak for themselves.  With 165,000 patients, Empower Clinics (CBDT:CSE) (EPWCF:OTCQB) has a database that almost every medical cannabis and CBD company would kill for … but then these numbers came in for the first two quarters:

Revenues $USD 1.7M vs $745,000 = 130% Gain

Patient Visits 12,400 vs 5,500 = 125% Gain

CBDT has now delivered growth in 4 successive financial reports (Q4, FY 2019, Q1 and Q2), so it is safe to say that superstar CEO Steve McAuley can officially claim victory on the turnaround he inherited in 2019.

But he is far from done.

CBDT also just announced the potential acquisition of an 8,000 sq ft lab in Dallas (they do everything big over there) that can process 2,000 COVID-19 tests per 8 hour shift.  At an average price of ~ $USD 90 per test, the clinic could represent $USD 180,000 in revenue PER SHIFT.  However, until this acquisition closes, we’re not going to focus on it too much – but that could happen as early as next week.  

Moreover, CBDT has to actually fill that capacity, which McAuley says he is working on right now with some enterprise sized discussions taking place as we write. Can he pull it off?  First consider what he has already accomplished after inheriting a catastrophe of a company.  Secondly, McAuley, is Six Sigma certified under the quality initiative of legendary GE (General Electric) Chairman Jack Welch. We’ve never seen a Six Sigma certified CEO in the Canadian small cap markets. Never …. which explains how McAuley has been able to guide Empower Clinics through the most disruptive retail environment in recent history and turn it into significant growth … and gives us optimism about this acquisition.

Watch this amazing interview.

Watch this interview or listen by Podcast on AppleGoogleSpotify or your favourite podcaster.