- Announced the advancement of its previously announced Joint Venture Partnership with Heritage Cannabis Holdings Corp. (CSE: CANN), based in Sandy, Oregon, USA.
- Now advancing the JV with the order and installation of extraction and post-production equipment units at Empower’s existing licenced hemp processing facility in Sandy, Oregon,
- Will immediately begin performing hemp-based product manufacturing for proprietary formulations, tolling services, and third-party white labelling services for other distributors throughout the United States
VANCOUVER, BC / March 5, 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 the advancement of its previously announced Joint Venture Partnership (“JV”) with Heritage Cannabis Holdings Corp. (CSE: CANN) (“Heritage”), based in Sandy, Oregon, USA.
In September 2019, Empower announced it had entered into a Letter of
Intent (“LOI”) to form a 50/50 ownership JV with Heritage for the
extraction of hemp for CBD oil production, and formulated CBD products.
The JV is equally funded by both parties and since formation CDN$250,000
has been provided to the JV.
Heritage and Empower are now advancing the JV with the order and
installation of extraction and post-production equipment units at
Empower’s existing licenced hemp processing facility in Sandy, Oregon,
in order to immediately begin performing hemp-based product
manufacturing for proprietary formulations, tolling services, and
third-party white labelling services for other distributors throughout
the United States.
The proprietary branded products will be distributed through
Empower’s corporately owned physician staffed health clinics in Oregon
and Arizona, online at www.sunvalleyhealth.com and in upcoming new franchise locations, which currently have access to over 165,000 patients.
Additionally, related downstream equipment is now being installed
including gel cap processing, tincture bottle and vape cartridge
filling, as well as labelling, packaging, storage and shipping services,
to offer full-service end-to-end products to third parties.
Heritage is providing training and supervision related to the
proprietary methods of extraction and oil production that is already
being successfully produced in Canada by Heritage.
“Having the backing of an experienced partner with the financial
strength of Heritage Cannabis is proving to be so beneficial for the
development of our first extraction facility”, said Steven McAuley,
Chief Executive Officer of Empower. “Together, we have already
identified numerous opportunities to bring new orders to the JV
facility, ensuring we leverage the capacity we are building.”
“We are very pleased to be advancing our U.S. strategy through this
mutually beneficial partnership with Empower, which provides Heritage
ease of access to the world’s largest cannabis market”, stated Clint
Sharples, Chief Executive Officer of Heritage. “The installation of
extraction units is the next phase of the JV and another step toward
successfully furthering our growth strategies.”
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.
About Heritage Cannabis Holdings Corp.
The Company is focused on becoming a vertically integrated cannabis
provider that currently has two Health Canada approved licenced
producers, through its subsidiaries Voyage Cannabis Corp. and CannaCure
Corp. both regulated under the Cannabis Act Regulations. Working under
these two licences, Heritage has two additional subsidiaries, Purefarma
Solutions, which provides extraction services, and a Medical Services
Division which is focused on cannabis based medical solutions. Heritage
as the parent company, is focused on providing the resources for its
subsidiaries to advance their products or services to compete both
domestically and internationally.
ON BEHALF OF THE BOARD OF DIRECTORS:
Steven McAuley
Chief Executive Officer
CONTACTS:
Investors: Steven McAuley
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 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.