Empower Clinics Announces New Auditor and Change of Year End

Rhea-AI Summary

Empower Clinics Inc. (CSE:EPW)(OTC PINK:EPWCF) has appointed Zeifmans LLP as its new auditor, effective December 20, 2022, replacing MNP LLP. This change, approved by the audit committee and the board, aims to enhance the Company’s accounting and financial controls. Additionally, Empower Clinics has shifted its year-end from December 31 to March 31. Notably, no modified opinion was expressed in Zeifmans' report regarding any financial statements from the previous two years.

Positive

• Appointment of Zeifmans LLP as new auditor to improve accounting and financial controls.
• No modified opinion from Zeifmans on the prior financial statements.
• Change of year-end to March 31 may align financial reporting with business cycle.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / December 23, 2022 / EMPOWER CLINICS INC (CSE:EPW)(OTC PINK:EPWCF) ("Empower" or the "Company") an integrated healthcare company - serving patients through medical centers, a medical device company and a high complexity medical diagnostics laboratory is pleased to announce the appointment of Zeifmans LLP ("Zeifmans") as its new auditor effective December 20, 2022, and announces the change of its year end to March 31st.

Zeifmans replaces MNP LLP ("MNP") as Empower's auditor. The board of directors (the "Board") and management of Empower would like to thank MNP for their services. The change in auditor has been approved by the Company's audit committee and the Board.

There was no modified opinion expressed in Zeifmans' report on any of the Company's financial statements relating to the period commencing at the beginning of the Company's two most recently completed financial years and ending on the date of resignation of MNP. There have been no "reportable events" within the meaning assigned under subsection 4.11(1) of National Instrument 51‐102 Continuous Disclosure Obligations.

The Company today also announces the change of its year end from December 31 to March 31.

"These are important milestones for our Company, that are intended to ensure we improve our accounting, audit and financial controls going forward," stated Steven McAuley, Chairman & CEO. "Zeifmans have decades of technical accounting and audit experience, and came with tremendous trade references from other issuers in Canada."

This press release is available on the Empower Clinics Verified Forum on AGORACOM for shareholder discussion, questions, and engagement with management https://agoracom.com/ir/EmpowerClinics.

ABOUT EMPOWER:

Empower is an integrated healthcare company with multi-disciplinary clinics, an at-home medical testing device company and state-of-the-art medical diagnostics laboratories. With a growing presence in the U.S. and Canada. Empower is a leader in integrated healthcare and diagnostics solutions and is reshaping the model for patient-first wellness.

ON BEHALF OF THE BOARD OF DIRECTORS:

Steven McAuley
Chief Executive Officer

CONTACTS:

Media:

Steven McAuley CEO
s.mcauley@empowerclinics.com
+1 855-855-9058

Investors:

Tamara Mason

Business Development & Communications
t.mason@empowerclinics.com
+1 855-855-9058

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. Such forward-looking statements 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. No assurance can be given that any of the events anticipated by the forward-looking statements will occur on the terms or in the time expected, or at all, 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 securities laws.

SOURCE: Empower Clinics Inc.

View source version on accesswire.com:
https://www.accesswire.com/733221/Empower-Clinics-Announces-New-Auditor-and-Change-of-Year-End

FAQ

Why did Empower Clinics change its auditor to Zeifmans LLP?

Empower Clinics appointed Zeifmans LLP to enhance its accounting and financial controls.

What is the significance of Empower Clinics changing its year-end?

The change of year-end from December 31 to March 31 may help align financial reporting with the business cycle.

Were there any reportable events regarding the auditor transition for Empower Clinics?

No reportable events were noted in the transition from MNP LLP to Zeifmans LLP.

What are the stock symbols for Empower Clinics?

Empower Clinics trades under CSE:EPW and OTC PINK:EPWCF.