VANCOUVER B.C. January 22nd, 2020 – 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 and CBD product production facility in Oregon, is pleased to announce that patient visits in corporate clinics increased by 351% in 4Q 2019 versus the same period in 2018, with total patient visits of 4,616 4Q 2019 compared to 1,314 in 4Q 2018.
The Company had consistently strong patient traffic in each of the months of October, November and December 2019 versus the same periods in 2018 with 367%, 304% and 397% monthly year-over-year growth respectively.
“I continue to be impressed with the operational excellence our team members provide to patients, who are returning to our clinics in record numbers.” said Steven McAuley, Chairman & CEO of Empower. “Having strong year-over-year patient growth, supported by our use of technology and optimized standard operating procedures (SOP’s), ensures our clinics operate with positive free cash flow.”
The Company today announced that it has granted, effective January 22, 2020, an aggregate of 870,000 stock options (each, an “Option”) to certain employees and contractors of the Company in accordance with the Company’s stock option plan. Each Option is exercisable into one common share in the capital of the Company (each, a “Share”) at a price of $0.04 per Share, being the closing price of the Shares on the Canadian Securities Exchange on the date of grant and the trading date before the date of grant for a period of three years from the date of grant. The Shares will be subject to a hold period of four months commencing on the date of grant of the Options.
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:
Chief Executive Officer
Boom Capital Markets
For French inquiries: Remy Scalabrini, Maricom Inc., E: email@example.com, 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.