- Empower Clinics to license online education technology to provide strategic value to their patients, retail locations, and to their expanding network of franchisees.
VANCOUVER BC / February 13, 2020 / EMPOWER CLINICS INC. (CSE:CBDT)(OTC:EPWCF)(Frankfurt:8EC) (“Empower” or the “Company“), a vertically integrated and growth-oriented CBD life sciences company is pleased to announce it has signed a letter of intent (the “LOI”) with EuroLife Brands Inc. (EURO) (3CMA) (EURPF) (“EuroLife”), a vertically integrated enterprise focused on the pan-European hemp, cannabinoid, and health and wellness sector, granting Empower an exclusive license of EURO’s “Cannvas.me” cloud based online educational platform in certain jurisdictions. The education technology is to be accessed by employees of Empower’s owned and franchised clinics, patients, and a network of nationwide retailers in the United States.
Under the terms of the LOI, Empower will be granted an exclusive
license of the Cannvas.me platform in the United States and Mexico
(expandable to other jurisdictions). It is envisioned that Empower will
integrate and leverage the robust Cannvas.me platform with its
burgeoning clinic network across the continental United States. The LOI
contemplates a three-year term with a three-year renewable option. An
annual $70,000.00 CAD licensing fee will be paid for the life of the
proposed agreement, and the issuance of $250,000.00 CAD of Empower
common stock at a price of $0.10 per share.
“This next phase in our partnership with Euro is the culmination of
many months of collaboration to create access to the immense amount of
educational content on the Cannvas.me platform.” said Steven McAuley,
Chairman & CEO of Empower. “Empower, as thought leaders in the
medical cannabis sector, need to lead consumer & physician education
providing a branded curated experience starting with our 165,000
patients and then extending through our network of corporate and
franchised clinics.”
“EuroLife’s SaaS based education technology platform will allow
Empower Clinics to educate a consumer, retailer, and medical patient on
an incredibly efficient basis,” said Shawn Moniz, Chief Executive
Officer, EuroLife Brands Inc. “We look forward to working with Empower
and their expanding clinic network in providing unencumbered access to
our online technology solution.”
In 2018 EuroLife launched a consumer education portal for medical and
recreational cannabis consumers. Through many discussions with industry
stakeholders the management team discovered there was significant
demand for a cloud-based education portal for licensed producers, retail
dispensaries and other large to mid-sized companies in the cannabis
sector. Executing on a renewed B2B technology model EuroLife recently
delivered a redesigned budtender education portal for Aphria Inc. (see
February 4, 2020 news release), the global cannabis leader with an
unrelenting commitment to people, product quality and innovation. The
portal allows Aphria to ensure retail employees across Canada are
well-versed in Aphria’s line-up of adult-use brands and enabled with
information to provide superior customer service.
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 EuroLife Brands Inc.
EuroLife Brands (CSE: EURO) (FSE: 3CMA) (OTCPK: EURPF) is a leading
global markets cannabis brand empowering the medical, recreational and
CPG cannabis industry worldwide through a data-driven CBD marketplace
supported by exclusive and unbiased physician-backed cannabis education
and detailed consumer analytics.
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.
SOURCE: Empower Clinics Inc.