Empower Clinics Announces Cease Trade Order To Be Issued By BC Securities Commission

Aug 2, 2022 | Press Releases

VANCOUVER, BC / ACCESSWIRE / AUGUST 2, 2022 / EMPOWER CLINICS INC (CSE:CBDT)(Frankfurt:8EC)(OTCQB:EPWCF) (“Empower” or the “Company“) an integrated healthcare company – serving patients through medical centers, telemedicine platforms, a medical device company, and a high complexity medical diagnostics laboratory – announces that it will be issued a cease trade order (“CTO”) by the British Columbia Securities Commission (“BCSC”) by virtue of not filing the following periodic disclosure documents (“Annual Filings”) by the filing deadline of July 29, 2022.

  • the audited annual financial statements of the Company for the year ended December 31, 2021;
  • the management’s discussion and analysis of the Company for the year ended December 31, 2021; and
  • certificates of each of the Chief Executive Officer and the interim Chief Financial Officer relating to the audited annual financial statements.

The cause of the delay was due primarily to recent changes in Company’s management and additional time required by the auditor to complete the remaining audit procedures. Although the audit continues to progress, it has taken longer to complete than anticipated. Notwithstanding the delay, the Company continues to operate normally without disruption and is working diligently and expeditiously with its auditors to complete the Annual Filings as soon as possible.

Once issued, the CTO prohibits all trading of the Company’s shares until all filing requirements are completed. A copy of the CTO will be posted on the BCSC website once issued. Revocation of the CTO is expected to occur within a few days after the Annual Filings are completed.