Posted by AGORACOM-JC
at 5:10 PM on Tuesday, November 19th, 2019
Empower Clinics JV Could Generate $US 30,000,000 In Annual Revenue From CBD Extraction … But It Doesn’t End There
With 165,000 patients, Empower Clinics (CBDT:CSE) (EPWCF:OTCQB) has a database that almost every medical cannabis and CBD company would kill for. Add in the fact it is now on a ~ $USD 4,000,000 annualized revenue run rate for 2019 and it becomes the kind of company small cap investors have been dying to find as they watch pretender companies melt away.
But it doesn’t end there.
The Company’s latest Q3 financials show that Empower is in full growth mode, with substantial increases in revenue and patient visits, as well as, big reductions in expenses. Moreover, Company CEO Steven McAuley says growth will continue full steam ahead in Q4, Q1 and beyond.
But it doesn’t end there.Â
CBD extraction has been a key element of the company’s vertical integration. Producing its’ own hemp-derived CBD products for its own massive patient list just makes sense. However, thanks to an LOI (moving towards definitive agreement) to JV with extraction experts Heritage Cannabis, the Company’s 5,000 sq ft facility in Oregon is also planning to serve big brand 3rd party partners in the USA . Empower brings the infrastructure, Heritage brings the expertise and balance sheet. The result is a match made in shareholder heaven with initial annual capacity of 6,000 Kg at ~ $US 5,000 per Kg, which adds up to $US 30,000,000 in potential revenue.
We emphasize potential  because nobody has started selling anything yet but the facility is expected to begin producing soon. However, with a built in patient database and talks already having commenced for white label products, Empower is on its way. Moreover, “potential” cuts both ways, with capacity capable of increasing 2x – 3x without much trouble given the size of the facility. Â
Can Empower successfully execute its extraction plan? It’s a legitimate question, with a blow away answer.. The Company’s new CEO, Steven McAuley, who replaced the previous management team in January, is Six Sigma certified under the quality initiative of legendary GE chairman Jack Welch. We’ve never seen a Six Sigma certified CEO in the Canadian small cap markets. Never …. which also explains how McAuley has brought Empower to such heights in just 11 months.
The cannabis market is currently throwing away babies with the bathwater – but just as the dot-com crash brought us massive riches through Web 2.0 companies that were REAL, investors need to start looking for the REAL companies that will survive and thrive. With 165,000 patients, rapidly increasing revenues, a franchise plan to grow clinics across America and a vertical integration CBD extraction strategy to tie them all together, Empower Clinics may be such a company. Â
Grab your favourite beverage and settle in to watch what may be your next great small cap investment.
Posted by AGORACOM-JC
at 8:59 AM on Tuesday, November 19th, 2019
Signed a definitive asset purchase agreement to acquire all assets of Nevada Botanical Science, Inc.
Transaction valued at USD$7.5Â million
NBS currently operates a 5,000 sq. ft. indoor cultivation facility and has been approved for expansion of up to 60,000 sq. ft of greenhouse space.
Property also includes an operating extraction facility and licensed and approved commercial kitchen.
This infrastructure is capable of manufacturing and bottling beverages and edibles and is currently used by NBS for both white label and branded product manufacturing.
TORONTO, Nov. 19, 2019 — North Bud Farms Inc. (CSE: NBUD) (OTCQB: NOBDF) (“NORTHBUD” or the “Company”) is pleased to announce that Bonfire Brands USA, a wholly owned subsidiary of NORTHBUD, has signed a definitive asset purchase agreement to acquire all assets of Nevada Botanical Science, Inc. (“NBSâ€) (see June 25, 2019 press release) in a transaction valued at USD$7.5 million.
Nevada Botanical Science (NBS) is located in Reno, Nevada. NBS holds
Nevada State medical and adult use licenses for cultivation, extraction
and distribution. NBS operates an integrated cannabis operation located
on 3.2 acres of land within the Reno green zone industrial park. NBS
currently operates a 5,000 sq. ft. indoor cultivation facility and has
been approved for expansion of up to 60,000 sq. ft of greenhouse space.
The property also includes an operating extraction facility and licensed
and approved commercial kitchen. This infrastructure is capable of
manufacturing and bottling beverages and edibles and is currently used
by NBS for both white label and branded product manufacturing. Operated
by healthcare professionals, NBS has been primarily focused on the
Nevada State medical cannabis market. NBS currently manufactures and
sells award winning (Jack Herer Cup 2018) topical pain creams, balms and
lotions under the Trichomic medical brand.
This past year NBS launched a trial release of cannabis infused
cocktails under the brand “Happiest Hourâ€. Collaborating with local
craft beverage manufactures NBS released a variety of beverages
including Margarita, Pina Colada, Bloody Mary, Long Island Ice Tea and
Lemonade to select retailers in the state. To date retailer adoption and
reordering has been 100% and based on customer feedback, NBS will
increase production and distribution including additional retailers in
Las Vegas in 2020. NBS has also finished a successful trial launch of
its energy shot 1oz beverage containing 25mg of THC and 50mg of
Caffeine. The Company plans to run a second branded trial in early 2020.
Over the past three months NBS and NORTHBUD have been working together
in preparation for the release of NORTHBUD branded dried flower products
in Q4 2019 and a variety of infused and non-infused pre rolls.
“Subject to the finalizing of the previously announced acquisition of
the Qlora Group in California, the Company plans to establish a unified
product manufacturing and distribution platform within these two
important states,†said Justin Braune, President of Bonfire Brands USA.
“The license classes in California and Nevada allow for identical
activities and the Company has been in negotiation with multiple
potential JV partners who wish to leverage this unique platform. Being
one of the few multi state operators with operations in both states will
allow us to offer turnkey solutions to prospective partners moving
forward.â€
Transaction Terms
The transaction (the “Transactionâ€) is structured as an asset
purchase agreement whereby in exchange for the purchase of all of the
securities and assets of NBS, NORTHBUD is paying a total of
USD$7,500,000 as follows:
Cash payment of USD$500,000 (paid in full);
Approximately USD$1 million in convertible shares of Bonfire Brands USA (6,500,000 “convertible sharesâ€); and
A USD$6,000,000 interest bearing promissory note.
The convertible shares may be exchanged on a 1-1 basis with common
shares of NBUD at the discretion of the shareholder. At the time of
signing, the converted value of these securities was equal to
USD$1,000,000. All applicable U.S. and Canadian regulatory holds shall
apply upon conversion.
As per the terms of the agreement NBS will allocate pro rated
ownership of assets in NBS and all associated licenses to Bonfire Brands
USA throughout the re-payment period, subject to state approval.
Bonfire Brands and NBS have agreed to an operations and management
arrangement allowing Bonfire to assume operational control, begin
integration and driving revenue immediately.
“The NORTHBUD and Bonfire Brands USA team are extremely proud to have
finalized this agreement making the state of Nevada our strategic entry
point into the U.S. legal cannabis market,†said Ryan Brown, CEO of
NORTHBUD. “We are equally proud of the structure of the deal and how it
minimizes shareholder dilution while allowing our team to begin
integration and operations with a focus on immediate revenue growth in
one of the most sought-after adult use markets in North America. Our
team has been looking at acquisitions in Nevada for over two years
before finding the right fit. The Nevada market is considered one of
the largest and most profitable in North America with recreational sales
of USD$580 million in the first full year of legalization* (2017 Nevada
Dept. of Taxation).â€
The securities of the Company have not been and will not be
registered under the United States Securities Act of 1933, as amended
(the “U.S. Securities Actâ€) or any state securities
laws. Accordingly, the securities of the Company may not be offered or
sold within the United States unless registered under the U.S.
Securities Act and applicable state securities laws or pursuant to an
exemption from the registration requirements of the U.S. Securities Act
and applicable state securities laws. This news release does not
constitute an offer to sell or a solicitation of an offer to buy any of
the securities of the Company in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
The Transaction is a significant acquisition but will not result in a
“Fundamental Change†pursuant to the policies of the CSE. NORTHBUD will
be preparing the necessary corporate and securities filings in order to
secure the required approvals for the Transaction.
The parties have agreed to pay USD$187,500 in broker/finder fees to
arm’s length parties on a prorated basis connection with the closing of
the Transaction.
The closing of the Transaction is conditional on the receipt by the
parties of applicable corporate and regulatory approvals, including that
of the CSE.
About Nevada Botanical Science, Inc.
Founded by a group of northern Nevada physicians and healthcare
professionals who believe in the promise of medical cannabis, Nevada
Botanical Science has developed a world class cannabis production,
research and development facility in Reno’s Washoe County. Its work and
commitment are fully in compliance with the Hippocratic Oath as well as
Nevada statute. Nevada Botanical Science is dedicated to ensuring the
highest measure of safety, governance and stewardship for its patients,
employees and the community it serves.
North Bud Farms Inc., through its wholly owned subsidiary GrowPros
MMP Inc., is pursuing a licence under The Cannabis Act. The Company has
built a state-of-the-art purpose-built cannabis production facility
located on 135 acres of Agricultural Land in Low, Quebec, Canada.
NORTHBUD through its wholly owned U.S. subsidiary, Bonfire Brands USA
has acquired Nevada Botanical Science, Inc. a world class cannabis
production, research and development facility with 5,000 sq. ft. of
indoor cultivation in Reno’s Washoe County. Nevada Botanical Science
holds medical and adult use licenses for cultivation, extraction and
distribution. Bonfire Brands USA has entered into an agreement to
acquire assets in Salinas, California.
Neither the Canadian Securities Exchange (the “CSEâ€) nor its
Regulation Services Provider (as that term is defined in the policies of
the CSE) accepts responsibility for the adequacy or accuracy of this
release.
Forward-looking statements Certain statements and
information included in this press release that, to the extent they are
not historical fact, constitute forward-looking information or
statements (collectively, “forward-looking statementsâ€) within the
meaning of applicable securities legislation. Forward-looking
statements, including those identified by the expressions “anticipateâ€,
“believeâ€, “planâ€, “estimateâ€, “expectâ€, “intendâ€, “mayâ€, “should†and
similar expressions to the extent they relate to the Company or its
management. This press release contains forward- looking statements
including those relating to the entering into of the Definitive
Agreement and closing of the Transaction with Nevada Botanical Science,
Inc. Forward-looking statements are based on the reasonable assumptions,
estimates, analysis and opinions of management made in light of its
experience and its perception of trends, current conditions and expected
developments, as well as other factors that management believes to be
relevant and reasonable in the circumstances at the date that such
statements are made, but which may prove to be incorrect.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual results,
performance or achievements of the Company to differ materially from any
future results, performance or achievements expressed or implied by the
forward-looking statements. Such risks and uncertainties include,
among others, the risk factors included in the Company’s final long form
prospectus dated August 21, 2018, which is available under the
Company’s SEDAR profile at www.sedar.com.
Accordingly, readers should not place undue reliance on any such
forward-looking statements. Further, any forward-looking statement
speaks only as of the date on which such statement is made. New factors
emerge from time to time, and it is not possible for the Company’s
management to predict all of such factors and to assess in advance the
impact of each such factor on the Company’s business or the extent to
which any factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statements. The Company does not undertake any obligation to update any
forward-looking statements to reflect information, events, results,
circumstances or otherwise after the date hereof or to reflect the
occurrence of unanticipated events, except as required by law including
securities laws. This news release does not constitute an offer to sell
or a solicitation of any offer to buy any securities of the Company.
FOR ADDITIONAL INFORMATION, PLEASE CONTACT: North Bud Farms Inc. Edward Miller VP, IR & Communications Office: (855) 628-3420 ext. 3 [email protected]
Posted by AGORACOM-JC
at 5:37 PM on Monday, November 18th, 2019
SPONSOR: NORTHBUD (NBUD:CSE)
Sustainable low cost, high quality cannabinoid production and
procurement focusing on both bio-pharmaceutical development and
Cannabinoid Infused Products. Learn More.
THC-infused edibles and CBD-infused edibles
When cannabis is ingested, the THC is metabolized by the liver
With edibles coming to brick-and-mortar shops in mid-December, users are looking to get high without the smoke.
But when choosing edibles, users will want to pay attention to
whether the product has CBD or THC, two compounds with very different
effects.
CBD
CBD, the non-psychoactive component within cannabis has been widely
touted for its medical benefits to help people with, among other
conditions, chronic pain. The World Health Organization (WHO) reports
CBD is not physically addictive.
By comparing those administered doses of active CBD to those given as
a placebo, researchers said that “while the number of studies is
limited, the evidence from well-controlled human experimental research
indicates that CBD is not associated with abuse potential.â€
CBD leads to slower effects that aren’t psychoactive in
nature — meaning they aren’t the effects you see portrayed in pop
culture.
The effects from CBD will be tame and mellow compared to its
psychoactive opposite, THC. Most medical cannabis includes CBD rather
than THC, with CBD already available in capsule form in legal stores.
THC
When most people think of cannabis’ effects, they think of THC. Many
of the new cannabis products slated to enter stores in mid-December will
focus on THC.
When cannabis is ingested, the THC is metabolized by the liver,
transforming itself into 11-hydroxy-THC. This metabolite is up to four
times faster in crossing the blood-brain barrier than average THC, and
is why edibles are associated with intense, vivid and longer-lasting
experiences.
THC normally gets pointed at as the compound that creates the potential for withdrawal symptoms among some heavy users.
An evidence brief compiled by the Canadian Public Health Association (CPHA) states that “cannabis is addictive, though not everyone who uses it will develop an addiction.â€
While using cannabis oil or edibles with THC, users may get addicted
or experience habit-formation. Products that only include CBD don’t
appear to become addictive.
Posted by AGORACOM
at 12:25 PM on Monday, November 18th, 2019
VERT: v –
Vertical Exploration and Venturevest Realty Partners LLC have signed a non- binding Letter of Intent (LOI) to enter into discussions regarding a secured Note Facility up to a maximum amount of $20 million CAD to support the multi-phased development of the St-Onge Wollastonite Deposit.
A staged credit facility allowing Vertical to move forward with four distinct phases of St-Onge development, first establishing the initial quarry style permitting and production phase through to the mining and final processing plant stage.
What is Wollastonite?
Wollastonite is a chemically simple mineral named in honor of English mineralogist and chemist Sir W.H. Wollaston (1766–1828). It is composed of calcium (Ca) and silicon and oxygen (SiO2, silica) with the chemical formula CaSiO3. Although much wollastonite is relatively pure CaSiO3, it can contain some iron, magnesium, manganese, aluminum, potassium, sodium, or strontium substituting for calcium in the mineral structure. Pure wollastonite is bright white; the type and amount of impurities can produce gray, cream, brown, pale-green, or red colors.
Wollastonite’s Many Uses
Cannabis Research:
Wollastonite has already many well-known benefits in agriculture
Testing in a controlled way for the use in the cannabis industry.
Possibly the first in the industry to do trials.
Engaged AGRINOVA for Wollastonite Research and Development
Entered into a
Distribution Agreement with AREV Brands, where Vertical will supply its
St-Onge wollastonite to AREV for direct distribution to both small-scale
craft growing operations and potentially larger-scale Health Canada
approved companies directly involved in growing and processing cannabis
and hemp.
Testing of Vertical’s St-Onge wollastonite on a range of important agricultural end uses will also be conducted
Became a member of the International Fertilizer Industry Association
(IFA), as part of its ongoing efforts to promote and strategically
market it’s world-class St-Onge wollastonite to a range of potential
end-users.
Major Demand in Ceramics Industry:
Combination of high brightness and low gas release of Wollastonite when heated creates demand
Brilliant whiteness of importance to coatings and filler markets
Wollasatonite applications are endless
An industrial mineral comprised
chemically of calcium, silicon and oxygen. Its molecular formula is
CaSiO3 and its theoretical composition consists of 48.28% CaO and 51.72%
SiO2.
St. Onge Wollastonite Deposit 2019
Twenty-three (23) drill holes totaling 1,784.0 metres were completed
Twenty (20) drill holes intersected high-grade wollastonite zones,
confirming excellent continuity and correlation with the thickly
mineralized zones intersected by previously reported historical drill
holes.
Sixteen (16) drill holes intersected high-grade wollastonite zones
right up until the end of the hole, which are all open at depth.
A total of 1,107.5 meters of high-grade wollastonite mineralized
core length was intersected, representing approximately 62% of all
drilled core length.
Posted by AGORACOM-JC
at 8:23 AM on Thursday, November 14th, 2019
5,807 patient visits generated revenue of $663,003, compared to 1,864 patient visits that generated $279,850 for Q3 2018.
Cash used in operating activities improved by $1,309,913 from $3,129,583 for YTD 2018, compared to $1,819,670 for YTD 2019.
VANCOUVER, Nov. 14, 2019 - EMPOWER CLINICS INC. (CSE: CBDT) (Frankfurt 8EC) (OTC: EPWCF) (“Empower” or the “Company“), a vertically integrated and growth-oriented CBD life sciences company, and a multi-state operator of medical health & wellness clinics in the U.S., has filed today its unaudited condensed interim consolidated financial statements for the three and nine months ended September 30th, 2019 and related management’s discussion and analysis, both of which are available at www.SEDAR.com. All financial information in this press release is reported in United States dollars, unless otherwise indicated.
“Our focus on operational excellence and cost controls are key
contributors to strong year-over-year growth numbers and the reduction
in direct clinic expense, as we continue to serve the 165,000 patients
in our database,” said Steven McAuley, Empowers Chairman
& CEO. “The Company is beginning to fulfill its promise of vertical
integration with the build-out of the extraction and production center
in Portland, OR plus with an increased focus on our
proprietary CBD product lines and diversified clinic revenues, the
Company has a clear path of growth and profitability going forward.”
Q3 2019 Highlights
5,807 patient visits generated revenue of $663,003, compared to 1,864 patient visits that generated $279,850 for Q3 2018.
Net loss of $504,531, compared to $378,657
for Q3 2018, which was primarily driven by increased revenues and fair
value adjustments offset by net increased in operating expenses related
to the operations of Sun Valley.
Cash used in operating activities improved by $1,309,913 from $3,129,583 for YTD 2018, compared to $1,819,670 for YTD 2019.
Cash at September 30, 2019 of $178,578, compared to $157,668 at December 31, 2018, which was primarily driven by debt and equity financings during the nine months ended September 30, 2019
and partially offset by cash used in operations, the cash investment in
Sun Valley and cash investment in Sun Valley Health Franchise launch.
Highlights
Strategic redirection: The Company has been
re-positioning its overall strategy to become a vertically integrated
health and wellness brand that connects to its 165,000 patients using a
data driven focus to improve patients’ lives with products, technology
and health systems.
Experienced and Seasoned Board of Directors: The Company Board of Directors includes its CEO Steven McAuley, Dustin Klein,
the Co-Founder of Sun Valley Clinics and the SVP, Business Development
and Andrejs Bunkse, owner and practicing attorney of Rain Legal and
Counsel to numerous cannabis enterprises in the U.S. and Canada.
Strategic Development: The Company has opened its first hemp-derived CBD extraction facility in greater Portland, Oregon
with the first extraction system expected to have the capacity to
produce 6,000 kg of extracted product per year. The Company took
possession of the new extraction facility June 1st, 2019
and has been awarded it’s hemp-handlers licence from the Oregon
Department of Agriculture, allowing the Company to enter the next phase
of build-out and full operations in 2019. The Company expects
preliminary production of its Sollievo CBD line to take place in the
extraction center in 4Q 2019.
Strategic Partnership: The Company has entered into a
Letter of Intent (“LOI”) to form a Joint Venture Partnership (“JV”) with
Heritage Cannabis Holdings Corp (CSE: CANN) (“Heritage”). Terms of the
LOI have Empower and Heritage each with a 50% ownership of the JV.
Heritage will install extraction units and related downstream extraction
equipment inside Empower’s existing licenced hemp processing facility
in Sandy, Oregon. Once operational, the JV will begin
producing proprietary branded products for Empower’s clinics and third
party partners for distribution in the United States.
2019 Outlook and Catalysts
Enhanced Corporate Governance: The Company has prioritized corporate governance practices under the leadership of its Board of Directors and Chairman Steven McAuley, to ensure financial and accounting controls operate at the highest of standards.
Improved Capital Markets Profile: Empower is
diversifying its business model to become a vertically integrated
operator in the global cannabis sector with a focus on patient care, CBD
product distribution, research & development and CBD product
extraction. The Company believes this will appeal to a broader base of
shareholders and investors and provide greater access to capital and
improved trading liquidity.
Increased Patient Access: With a rapidly expanding
company-owned clinic network and significant expansion opportunity
through the Sun Valley Health franchise model, Empower anticipates it
will grow its total patient list substantially in the years ahead. This
is expected to provide greater opportunity for treatment analysis using
artificial intelligence (AI), through progressive initiatives that
include adding the Endocanna DNA test kit to the Company product &
service offering in clinics and online. Ensuring the Company is a leader
in understanding the efficacy of cannabis-related treatment options is
an imperative.
Focus on CBD Product Sales: The Company has launched
its online store to sell its lines of hemp-derived CBD based products
and premium health & wellness supplements. Customers can purchase
products, including CBD lotions, tinctures, spectrum oils, capsules,
lozenges, patches, e-drinks, topical lotions, gel caps, hemp extract
drops and pet-elixir hemp extract drops. Patients and customers will be
able to access Sun Valley Health customer service, home delivery and
e-commerce platforms.
Market Leading Technology: Empower utilizes
market-leading patient electronic management and POS system that is
HIPAA compliant and provides deep insight to patient care. The Company
supports remote patients using its tele-medicine portal, enabling
patients who do not live near one of its clinic locations, or are
disabled or unable to come to a location, to still benefit from a doctor
consultation.
New Modalities and Services: The Company has launched
new physician based modalities and services into the Sun Valley Health
clinics and has commenced booking appointments and providing the new
services. Each of these services provides the opportunity for increased
patient retention, higher revenue per patient visit and increased
patient visits per year. The new services include:
Physician’s CBD Enhanced Massage, Acupuncture, or Cupping Sessions
Neurotransmitter (urine) Profile & Physician Consultation/Action Plan
Spectracell Micronutrient Test & Physician Consultation/Action Plan
Launches Nationwide Franchise: The Company has launched
its nationwide franchise program under the Sun Valley Health brand to
dramatically grow our clinic & store footprint increasing direct
access to patients and to sell hemp-derived CBD products and premium
wellness products directly to our customers and online at our new
e-commerce store at www.sunvalleyhealth.com
Financial Summary
$, except patient visits
Three months ended
September 30,
Nine months ended
September 30,
2019
2018
2019
2018
Patient visits
5,807
1,864
11,304
6,293
Clinic revenues
663,003
279,850
1,406,872
894,477
Direct clinic expenses
(55,397)
(88,956)
(177,560)
(301,392)
Loss from operations
(843,897)
(405,048)
(2,547,276)
(3,716,474)
Net loss
(504,531)
(378,657)
(2,359,579)
(5,132,848)
Net loss per share
(0.00)
(0.01)
(0.02)
(0.09)
Financial Performance
Clinic revenues for Q3 2019 were $663,003, compared to Q3 2018 revenues of $279,850. This increase over the prior year is attributable to the acquisition of Sun Valley Clinics.
Direct clinic expenses for Q3 2019 were $55,397, compared to Q3 2018 direct clinic expenses of $88,956.
These expenses declined despite the increase in revenues due to
improved operational controls to align labor cost with direct patient
consultations. The Company employs a diverse mix of physicians and
practitioners.
Net loss from operations for Q3 2019 was $843,897, compared to Q3 2018 net loss of $405,048.
This increase in loss over prior year is primarily attributable
operating expenses increasing due to timing of recognition of the
expense associated with non-cash share-based awards to management.
Net loss for Q3 2019 was $504,531, respectively, compared to Q3 2018 net loss of $378,657.
This increase over prior year is primarily attributable to the increase
in operating expenses as noted above, which was partially offset by
gains on change in fair value of the conversion option of convertible
debentures and warrants.
During Q3 2019, the Company used $1,819,670 in cash from operations after changes in non-cash working capital. The Company invested $629,636 for the acquisition of Sun Valley Clinics and raised $2,470,216 via proceeds from various issuances of shares, convertible debentures and notes.
Please refer to the Company’s unaudited condensed interim
consolidated financial statements, related notes and accompanying
management discussion and analysis for a full review of the operations.
ABOUT EMPOWER
Empower is a vertically integrated and growth-oriented CBD life
sciences company, and a multi-state operator of medical health &
wellness clinics, operating the Sun Valley Health clinic brand www.sunvalleyhealth.com, for its nine corporate locations and for franchises in the United States.
As a CBD product manufacturer under the Sollievo brand, the Company
distributes its lines through clinics, online and through retail
partners. Extraction operations are currently being developed in the
Company’s new extraction facility in Oregon.
ON BEHALF OF THE BOARD OF DIRECTORS:
Steven McAuley Chief Executive Officer
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
statements regarding; the Company’s intention to open a hemp-based CBD
extraction facility, the expected benefits to the Company and its
shareholders as a result of the proposed acquisitions and partnerships;
the terms of the proposed acquisitions and partnerships; the
effectiveness of the extraction technology; the expected benefits for
Empower’s patient base and customers; the benefits of CBD based
products; the effect of the approval of the Farm Bill; the growth of the
Company’s patient list and that the Company will be positioned to be a
market-leading service provider for complex patient requirements in 2019
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 may not open a
hemp-based CBD extraction facility; that the hemp-based CBD extraction
facility may not be fully operational in 2019 if at all; 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
acquisitions and partnerships; 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.
Posted by AGORACOM-JC
at 4:30 PM on Wednesday, November 13th, 2019
Why Empower Clinics?
A leading owner/operator of physician staffed health and pain management clinics.
Patient database of over 165,000 patients
Platform generating $4MM USD in revenue annually (2019)
Q3 2019 preliminary unaudited revenue saw a year over year growth of approximately 138%
Proprietary technology platforms including Electronic Health Records portal and e-Commerce for CBD product distribution
Launching CBD extraction facility
First extraction system capacity = 6,000 Kg per year.
CBD based products are poised to be a $20B global industry by 2022
Medical cannabis is poised to be a $100B global industry by 2025
The Team
The Products
Commenced selling its proprietary line of CBD-based products called SOLLIEVO
Empower’s patient base and customers are
expected to benefit from access to high margin derivative products,
including CBD lotion, tinctures, spectrum oils, capsules, lozenges,
patches, e-drinks, topical lotions, gel caps, hemp extract drops and pet
elixir hemp extract drops.
Patients and customers will be able to access Empower’s home delivery and e-commerce platform.
CBD Extraction
Opening first CBD Extraction facility in Portland, OR.
5,000 sq. ft. leased building with first extraction system capable
of producing 20kg per day of 99% spectrum oil, isolate or distillate
Current wholesale pricing is $6,500 USD per kg with annual capacity of 6,000kg an estimated $39MM USD revenue.
Facility can scale to four extraction systems for up to 24,000kg of product and over $150MM USD revenue
FULL DISCLOSURE: Empower Clinics is an advertising client of AGORA Internet Relations Corp.
Tags: Cannabis, CSE, Hemp, Marijuana, stocks, tsx, tsx-v, weed Posted in All Recent Posts, Empower Clinics Inc. | Comments Off on CLIENT FEATURE: Empower Clinics With 165,000 Patients Already, $CBDT.ca Is Positioned To Become A Medical #Cannabis & #CBD Retail Killer $CGC $ACB $APH $CRON.ca $HEXO.ca $OGI.ca $FAF.ca
Posted by AGORACOM-JC
at 10:34 AM on Wednesday, November 13th, 2019
SPONSOR: NORTHBUD (NBUD:CSE)
Sustainable low cost, high quality cannabinoid production and
procurement focusing on both bio-pharmaceutical development and
Cannabinoid Infused Products. Learn More.
—————————–
The CBD Industry Flourishes After Overcoming Certain Legal Barriers
Total sales for the U.S. hemp industry totaled USD 820 Million in 2017
The research also suggests that the industry is expected to grow to USD 1.9 Billion by 2022 and at a CAGR of 14.4% during the 5-year period.
NEW YORK, Nov. 13, 2019 – Humans have been using hemp for centuries prior to its disappearance from the public eye. Decades ago, hemp was predominantly being used to manufacture textiles, paper, construction materials, and fuel. However, now, hemp is most commonly known for being a derivative of the cannabis plant, which has caused it to be classified as a drug under international regulations.
Furthermore, most people associate cannabis with its marijuana
derivative, which imparts cerebral-altering effects on its users.
However, hemp and marijuana are two completely different plants in terms
of their biological makeup. Hemp contains much more CBD, or
cannabidiol, while marijuana contains a significant amount of THC, or
tetrahydrocannabinol. In fact, CBD and THC are just two of at least 113
cannabinoids identified in the cannabis plant. However, THC is one of
the only three cannabinoids scheduled by the UN Convention on
Psychotropic Substances. Originally, the UN listed THC as a Schedule 1
substance in 1971 but reclassified it to Schedule 2 in 1991 after a
recommendation by the World Health Organization (WHO).
However, under the Single Convention on Narcotic Drugs, THC is
classified as both a Schedule 1 and Schedule 4 drug. And while the
debate over legalizing THC is often a tense topic for most countries,
CBD legalization appears to be a more popular direction of discourse. In
recent times, CBD has become widely popular because of the therapeutic
benefits it offers without causing psychoactive effects on the consumer.
Notably, researchers highlighted that CBD can be used to treat minor
conditions such as headaches or even severe symptoms associated with
cancer. Nevertheless, international health agencies have all agreed that
more research is required in order to move forward with approving CBD
as a medicinal treatment.
But regardless, a number of countries such as Canada and
the U.S. already moved to completely legalize the use of CBD. And
according to data compiled by Hemp Business Journal, a division of New
Frontier Data, the total sales for the U.S. hemp industry totaled USD 820 Million in 2017. The research also suggests that the industry is expected to grow to USD 1.9 Billion by 2022 and at a CAGR of 14.4% during the 5-year period.
In 2017, the U.S. hemp market was primarily driven by hemp-derived
CBD products. At the time, hemp-derived CBD products accounted for 23%
of the total market share, delivering USD 190 Million in
sales. Personal care products accounted for 22% of the market share,
narrowly lagging behind hemp-derived CBD products. However, by 2022,
Hemp Business Journal expects the hemp-derived CBD market to takeoff.
The hemp-derived CBD sector is forecast to deliver USD 646 Million
in sales. Furthermore, the research suggests that the personal care
products segment is expected to witness its market share diminishes as
industrial applications fill the gap. And as legal barriers are removed
and consumer education continues to spread, the hemp industry is
positioned to witness exponential growth.
Furthermore, many researchers are actively pushing legislators and
lawmakers to reconsider the scheduling of cannabis because of rich
therapeutic benefits. For instance, researchers from the University of Minnesota’s
(U of M) College of Biological Sciences and College of Food,
Agricultural, and Natural Resource Sciences are one of a handful of
groups that are federally authorized to study cannabis. The researchers
have argued they have “indisputable evidence” that hemp and marijuana
should be separated, according to Mercola. “It’s a plant of major
economic importance that is very poorly understood scientifically… With
this study, we have indisputable evidence for a genetic basis of
differences among cannabis varieties, further challenging the position
that all cannabis should be regulated as a drug,” said George Weiblen,
a professor with a joint appointment in the U of M’s College of
Biological Sciences and College of Food, Agricultural and Natural
Resource Sciences.
Tags: Cannabis, CBD, CSE, Hemp, Marijuana, stocks, tsx, tsx-v, weed Posted in North Bud Farms Inc | Comments Off on NORTHBUD $NBUD.ca – The #CBD Industry Flourishes After Overcoming Certain Legal Barriers $CGC $ACB $APH $CRON.ca $HEXO.ca $TRST.ca $OGI.ca
Posted by AGORACOM-JC
at 10:38 AM on Tuesday, November 12th, 2019
SPONSOR: NORTHBUD (NBUD:CSE)
Sustainable low cost, high quality cannabinoid production and
procurement focusing on both bio-pharmaceutical development and
Cannabinoid Infused Products. Learn More.
NBUD: CSE —————————–
5 Reasons Why Everyone Is Obsessed With CBD Gummies
If you’ve heard any of the hype lately about CBD and CBD gummies, you’re probably thinking, “what’s all the fuss about?†With
last year’s introduction of the Farm Bill, the CBD industry has
skyrocketed beyond anyone’s expectations, creating countless products
infused with the cannabinoid CBD. With numerous health
benefits, availability and affordability, CBD products are making quite
the scene in a new(er) industry. Here are five reasons why everyone is
obsessed with CBD gummies.
Availability
CBD gummies are pretty much everywhere at this point. You
can get them online, in your drug store, in holistic health shops, and
more. With such wide availability, it’s no wonder these tasty treats are
a favorite among consumers of CBD. That being said, it’s important to
note that not all CBD gummies are the same.
The quality of the CBD used in them can have a profound effect on the
effectiveness, so it’s always better to purchase from a provider with a
good reputation for quality. Companies like Verma Farms offer some of the highest-quality CBD gummies on the market.
Be sure to check the CBD availability and legality in your state.
While hemp may be legal on the federal level, individual states still
have the ability to regulate and even ban hemp and CBD products.
Longer-Lasting Effects
Img source: kushiebites.com
Since CBD gummies are ingested, the effects of the CBD tend to last
longer than if it were inhaled or taken under the tongue. The slow
process of digestion means that your CBD might take an hour or longer to
kick in, but once it does, you can expect the effect to last for at
least a few hours.
The longer-lasting effects of the gummies are mostly what drives
consumers to make these a favorite. They also taste pretty good too!
Straight CBD oil taken under the tongue can leave a plant aftertaste,
which can be quite unpleasant. Chewing a gummy eliminates this
unpleasantness by coating the CBD with a tasty, sugary gummy.
Consumers feel like gummies give them a bit more bang for their buck
since some CBD products can be quite pricey. With longer-lasting
effects, you’ll need less throughout the day to achieve the desired
effect; making them an affordable and effective way to enjoy CBD.
CBD’s Benefits
Let’s take a moment to talk about some of the great effects that CBD has on the body. From reducing stress and anxiety
to improved sleep, the effects of CBD are numerous and positive. While
the research is still pretty much in its infancy, what we do know is that CBD so far hasn’t shown any major negative side-effects.
CBD is different from THC, though they’re both found in the cannabis
plant. THC creates the euphoric “high†that marijuana is known for,
whereas CBD is much the opposite. Instead of euphoria, users have said
that they feel clarity and calm. It’s even been said that CBD can help
reduce the effects of THC for when you’ve had a little too much
People all over the world are using CBD oils and gummies for joint
aches, concentration, treating anxiety, and all manner of health
ailments. Some users swear by CBD as a cure-all, but science has yet to discover the true spectrum of benefits offered by this amazing compound.
Affordability
Img source: kushiebites.com
While CBD oils and vape pens can be a bit costly, CBD gummies remain
on the affordable end of the spectrum, and, as stated above, their
long-lasting effects makes them much more cost-efficient than their
inhaled or absorbed counterparts. We’ve seen hundreds of brands pop up
over the course of the last year, and as the industry grows, we’re
certain to see more. Right now, CBD demand is high, so prices will probably remain at about the same level for the coming years.
Easy to Take
Probably the best thing about CBD gummies
is that they’re easy to take. Whether you’re 21 or 71, chewing them is
simple and the digestive process does all of the work for you. Where
vape pens and oils can require different processes for maximum
effectiveness, with this product, you simply chew and swallow and wait.
This makes gummies accessible to people of all ages, backgrounds, and
ailments. The availability and versatility of these awesome products
are what have made them an absolute favorite among CBD users nationwide.
Conclusion
Img source: whio.com
Whether you’re new to CBD or a seasoned veteran, you’ll want to give
CBD gummies a try to see why everyone’s raving about them. From being
easy to take to having longer-lasting effects, they can offer a unique
CBD product that you’ll find is both simple and affordable.
Posted by AGORACOM-JC
at 2:44 PM on Monday, November 11th, 2019
SPONSOR: NORTHBUD (NBUD:CSE) Sustainable low cost, high quality cannabinoid production and procurement focusing on both bio-pharmaceutical development and Cannabinoid Infused Products. Learn More.
Welcome to the Cannabis Countdown.
In this week’s rendition, we’ll recap and countdown the top 10
marijuana industry news stories for the week of November 4th – 10th,
2019.
Multi-Platinum Recording Superstar Drake and Canopy Growth Announce New Cannabis Partnership
Drake is heading home and will own a majority stake in Toronto-based “More Life Growth”. Canopy Growth (TSX: WEED) (NYSE: CGC) will own the remaining 40% in the new fully licensed cannabis producer.
READ FULL DRAKE ARTICLE
9. Passengers Carrying Cannabis on Air Canada’s Toronto to Vancouver Flight Shocked When Plane Got Re-Routed to U.S.
Foggy Conditions Forced Flight AC 125 to Land at Seattle Airport with Some Passengers Carrying Cannabis and CBD
One legal expert gives advice to Canadians on how to handle an extraordinary situation like this.
READ FULL AIR CANADA ARTICLE
8. Mexico Has Until April 30 to Legalize Cannabis, Supreme Court Rules
That Legislation Proposed Rules Limiting Foreign Ownership, Vertical Integration and License Resale
Mexico’s Supreme Court gave Congress another six months to approve
legislation that legalizes all forms of cannabis, postponing until the
end of April the deadline for when the Latin American country would
create the world’s largest adult-use market by population.
READ FULL MEXICO ARTICLE
7. Canopy Growth Downsizes Latin America Workforce as Region Struggles to Generate Revenue
Investors Have Sent a Clear Message They Want Companies to be More Prudent in Their Spending
One of the largest cannabis companies in the world, Canopy Growth (TSX: WEED) (NYSE: CGC),
is restructuring its overseas operations by laying off 15% of its
workforce in Latin America, reflecting the slow pace at which
revenue-generating opportunities and regulatory structures are evolving
in the region.
READ FULL CANOPY GROWTH ARTICLE
6. FDA Won’t be Hurried to Create CBD Exceptions Amid Safety Concerns
The Agency’s Biggest Concern is Whether CBD is Safe to Consume in Food and Supplements
A top official for the U.S. Food and Drug Administration (FDA) said
the agency is concerned that developing a legal exception for
supplements containing CBD could send the wrong message, both to
companies interested in entering the market and consumers.
READ FULL FDA CBD ARTICLE
5. Ontario Business Group Wants ‘Clear Timeline’ for Cannabis Store Expansion
So Far, Ontario Has Used a Botched Lottery System to Award Licenses to Open Recreational Marijuana Stores
A group comprised of cannabis industry leaders and experts is calling
on Ontario’s government to provide a more complete timetable for when
retail stores will be permitted through an open allocation of licenses.
READ FULL ONTARIO ARTICLE
4. Michigan Nets 52 Adult-Use Marijuana Applications on First Day
State Regulators Expect the First License to be Issued Before the End of November
Marijuana regulators in Michigan received 52 recreational cannabis
business license applications on the first day of the application
period.
READ FULL MICHIGAN ARTICLE
3. Cannabis Canada: Pot Industry Added Nearly Billion to GDP in August
Cannabis Sales in Canada Expected to Double Next Year to $3.16 Billion
Canaccord Genuity cannabis analyst Matt Bottomley expects revenue in
Canada’s legal pot sector to more than double next year despite
slower-than-expected growth. Bottomley said in a research note to
clients that Canada’s cannabis industry should expect $3.16 billion in
revenue in 2020, up from the $1.46 billion forecast for 2019.
READ FULL CANADA STATS ARTICLE
2. U.S. Senate Approves Legislation Protecting State-Legal Medical Cannabis Programs from Federal Interference
Supporters Hope Similar Protection for Recreational States Will Be Included in Final Version Sent to President Trump
The U.S. Senate passed a spending bill extending a provision that
protects medical cannabis states from federal interference. It’s unknown
if the broader House approved protections for adult-use state cannabis
programs will be included in the final version of the bill that’s passed
along to President Trump.
READ FULL MMJ SENATE ARTICLE
1. Breakthrough in CDC Vape Crisis Investigation
Vitamin E Acetate Linked to THC May Be to Blame
Vitamin E acetate, an additive sometimes used in THC and other vaping
products, may be to blame for a national vape crisis of
e-cigarette-related lung injuries that’s linked to dozens of deaths,
according to U.S. Centers for Disease Control and Prevention officials.
Posted by AGORACOM-JC
at 7:25 AM on Thursday, November 7th, 2019
Empowers’ Q3 2019 preliminary unaudited revenue saw a year over year growth of approximately 138%
Company’s Q3 preliminary total direct clinic expenses have been reduced by approximately 40% even with the addition of the six Sun Valley clinic locations.
Company also has patient visits in corporate clinics increase by triple digits, with October 2019 patients seen increasing by 336% to 1,847 versus October 2018 with 550 patients seen.      Â
Earnings results are set to be released on November 14, 2019 at 9:00 am Eastern Time
VANCOUVER, Nov. 7, 2019 – EMPOWER CLINICS INC. (CSE: CBDT) (OTC: EPWCF) (Frankfurt 8EC) (“Empower” or the “Company“), a vertically integrated and growth-oriented CBD life sciences company, a multi-state operator of medical health & wellness clinics, a CBD product producer and operator of an extraction facility in Oregon, is pleased to announce preliminary unaudited year over year revenue growth of 138% for the three months ended September 30, 2019. The company also decreased total direct clinic expenses by approximately 40%, while adding six new clinics as a result of the Sun Valley clinics acquisition.
The Company also has patient visits in corporate clinics increase by triple digits, with October 2019 patients seen increasing by 336% to 1,847 versus October 2018 with 550 patients seen.
“The Company is starting to feel the positive impact that the Sun Valley clinics acquisition has provided with their strong operational performance in Arizona, in conjunction with continued cost cutting measures with operations in Oregon and Washington State,” said Steven McAuley,
CEO of Empower. “We have also been able to integrate key back office,
admin, payroll & human resource functions from the Pacific Northwest
into the operational controls of Sun Valley, bringing improved productivity to the organization.”
As part of the Company’s continued expansion of our health &
wellness clinic model, we have already set up retail CBD product sales
in-clinic, and now we have launched expanded physician based services
starting with key Arizona clinics.
New Modalities and Services
Physician’s CBD Enhanced Massage, Acupuncture, or Cupping Sessions
Neurotransmitter (urine) Profile & Physician Consultation/Action Plan
Spectracell Micronutrient Test & Physician Consultation/Action Plan
Empower plans to release its third quarter results ending September 30th, 2019 on November 14, 2019 at 9:00AM Eastern time.
Financial Measures
This news release makes reference to certain non-IFRS measures,
including certain industry metrics. These metrics and measures are not
recognized measures under IFRS do not have meanings prescribed under
IFRS and are as a result unlikely to be comparable to similar measures
presented by other companies. These measures are provided as information
complimentary to those IFRS measures by providing a further
understanding of our operating results from the perspective of
management. As such, these measures should not be considered in
isolation or in lieu of review of our financial information reported
under IFRS. These non-IFRS measures, including the industry measures,
are used to provide investors with supplementary measures of our
operating performance that may not otherwise be apparent when relying
solely on IFRS metrics.
ABOUT EMPOWER
Empower is a vertically-integrated health & wellness brand with
it’s first hemp-derived CBD extraction facility under development, the
Company produces its proprietary line of cannabidiol (CBD) based
products and distributes products through company owned and franchised
clinics, with wholesale partnerships, online channels and with new
retail opportunities nationwide in the U.S. The company is a leading
multi-state operator of a network of physician-staffed wellness clinics,
focused on helping patients improve and protect their health, through
innovative physician recommended treatment options. The company has
commenced activity on how to connect its significant data, to the
potential of the efficacy of alternative treatment options related to
hemp-derived cannabidiol (CBD) therapies.
ON BEHALF OF THE BOARD OF DIRECTORS:
Steven McAuley Chief Executive Officer
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
statements regarding; the Company’s intention to open a hemp-based CBD
extraction facility, the expected benefits to the Company and its
shareholders as a result of the proposed acquisitions and partnerships;
the terms of the proposed acquisitions and partnerships; the
effectiveness of the extraction technology; the expected benefits for
Empower’s patient base and customers; the benefits of CBD based
products; the effect of the approval of the Farm Bill; the growth of the
Company’s patient list and that the Company will be positioned to be a
market-leading service provider for complex patient requirements in 2019
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 may not open a
hemp-based CBD extraction facility; 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 acquisitions and partnerships; 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.
Investors: Steve Low, Boom Capital Markets, [email protected], 647-620-5101; Investors: Steven McAuley, CEO, [email protected], 604-789-2146; For French inquiries: Remy Scalabrini, Maricom Inc., E: [email protected], T: (888) 585-MARICopyright CNW Group 2019
Tags: Cannabis, CSE, Hemp, Marijuana, stocks, tsx, tsx-v, weed Posted in All Recent Posts, Empower Clinics Inc., Featured | Comments Off on Empower Clinics $CBDT.ca Announces Record Preliminary Unaudited Q3 2019 Revenue with 138% year over year increase and Details for Release of Financial Statements $WEED.ca $CGC $ACB $APH $CRON.ca $HEXO.ca $OGI.ca $FAF.ca
