- Company intends to utilize its database of 165,000 patients to further psilocybin research, develop new products and partner with global leaders in the field
- “Empower is uniquely positioned to immediately impact research, develop new products and bring advancements to plant-based therapies, under a framework of rapidly increasing awareness and a movement toward decriminalization of psychedelic treatment options.” said Steven McAuley, Chairman & CEO of Empower
VANCOUVER, BC / February 25, 2020 / EMPOWER CLINICS INC. (CSE:CBDT)(OTC:EPWCF)(Frankfurt:8EC) (“Empower” or the “Company“), a vertically integrated and growth-oriented life sciences company is pleased to announce it intends to leverage its existing clinic network, the developing franchise brand, its 165,000 patients and product development capability, to create psilocybin and psychedelics subsidiaries.
The Company has been conducting market research on advancements in
psilocybin and psychedelics in North America and globally, along with
building the business case internally on how to create greater
shareholder value, utilizing Company assets that include clinics,
patients, physicians and technology.
“There is an undeniable mental health crisis in our country and
around the world, that has an ever-increasing, devastating affect on our
society.” said Steven McAuley, Chairman & CEO of Empower. “Empower
is uniquely positioned to immediately impact research, develop new
products and bring advancements to plant-based therapies, under a
framework of rapidly increasing awareness and a movement toward
decriminalization of psychedelic treatment options.”
Studies conducted by nationally and internationally recognized
medical institutions indicate that psilocybin has shown efficacy,
tolerability, and safety in the treatment of a variety of mental health
conditions, including but not limited to addiction, depression, anxiety
disorders, and end-of-life psychological distress.
“Over the past seven years, we have assisted over one hundred
thousand patients obtain access to alternative health care and medicinal
cannabis. The provision of legal access to psilocybin therapies are
perfectly in-line with our philosophy of providing a Scientific Approach
to Alternative Medicine™“, said Dustin Klein, SVP
Business Development and Director, Empower Clinics Inc. “Clinical trials
have shown that psilocybin therapies provide tremendous help with
conditions we see everyday in our clinics. It is our responsibility, to
make sure we are providing the most up-to-date alternative therapies to
our patients and our community.”
The mental health crisis could cost the world $16 trillion by 2030
and according to Future Market Insights; the global behavioral health
(non-pharmacological) market is expected to be valued at US$156 billion
by 2028.
The United States Food and Drug Administration has determined that
preliminary clinical evidence indicates psilocybin may demonstrate
substantial improvement over other available therapies for
treatment-resistant depression; and granted a Breakthrough Therapy
designation for a treatment that uses psilocybin as a therapy for such
depression.
The Company also announces it has issued to Haywood Securities Inc.,
4,000,000 common shares of the Company (the “Work Fee Shares”) under the
financial advisory agreement dated September 25, 2019 (the “Agreement”)
based on Haywood Securities Inc. completing the final written SWOT
analysis. The shares issued are priced at fair market value of the
common shares of the Corporation as at the date of issuance of the Work
Fee Shares.
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, psilocybin and other
psychedelic plant-based treatment options.
ON BEHALF OF THE BOARD OF DIRECTORS:
Steven McAuley
Chief Executive Officer
CONTACTS:
Investors: Steven McAuley
Chairman & CEO
[email protected]
604-789-2146
Investors: Dustin Klein
SVP, Business Development
[email protected]
720-352-1398
For French inquiries: Remy Scalabrini, Maricom Inc., E: [email protected], T: (888) 585-MARI
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 create psilocybin and
psychedelics divisions, that market research on advancements in
psilocybin and psychedelics in North America and globally will create
greater shareholder value, 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 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.
SOURCE: Empower Clinics Inc.
