Empower Clinics Cancels Previously Announced Private Placement

Rhea-AI Summary

Empower Clinics Inc. (CSE:EPW)(OTC PINK:EPWCF) has announced the cancellation of its previously planned private placement offering, initially revealed on January 23, 2023. Chairman and CEO Steven McAuley stated that the decision was appropriate and updates regarding strategic initiatives will be forthcoming. Empower Clinics is focusing on its growth as a provider of clinical trials and research solutions across the U.S. and Canada, leveraging its expertise in laboratory diagnostics, medical devices, and clinic management. The company aims to enhance its services within the pharmaceutical, biotechnology, and medical device industries.

Positive

• Empower is developing into a leading provider of clinical trials and research solutions in North America.
• The company has strong operational expertise in laboratory diagnostics, medical devices, and health clinic management.

Negative

• Cancellation of the private placement may indicate challenges in securing funding.
• Forward-looking statements highlight potential risks regarding product efficacy and necessary approvals.

VANCOUVER, BC / ACCESSWIRE / March 20, 2023 / 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 with a developing research and clinical trial division, announces it has cancelled the private placement Offering announced on January 23, 2023.

"We have determined it is appropriate to cancel the current LIFE Offering, and we anticipate providing updates on strategic initiatives in the near future." Stated Steven McAuley, Chairman and CEO of Empower Clinics.

ABOUT EMPOWER:

Empower Clinics as an integrated healthcare company is developing into a leading provider of clinical trials and research solutions in U.S. and Canada. With its deep experience and operational expertise in laboratory diagnostics, medical devices and health clinic management, Empower is focused on offering clinical trial services - including clinical trial design, patient recruitment, data management and regulatory compliance for the pharmaceutical, biotechnology and medical device industries.

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. 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, and include statements regarding the Company's ability to positively impact the integrated health of its patients while simultaneously providing long term value for shareholders. 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 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's products may not work as expected; 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; that general business, economic, competitive, political and social uncertainties; failure to obtain any necessary approvals in connection with any proposed transactions; 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.

View source version on accesswire.com:
https://www.accesswire.com/744607/Empower-Clinics-Cancels-Previously-Announced-Private-Placement

FAQ

What was the announcement made by Empower Clinics on March 20, 2023?

Empower Clinics announced the cancellation of its previously planned private placement offering.

What is the reason behind the cancellation of the private placement by Empower Clinics?

The company's management determined it was appropriate to cancel the LIFE Offering and stated that updates on strategic initiatives will follow.

How does Empower Clinics plan to position itself in the healthcare market?

Empower Clinics is focusing on becoming a leading provider of clinical trial services and research solutions in the U.S. and Canada.

What are the implications of the cancelled private placement for Empower Clinics' investors?

The cancellation may suggest challenges in funding, which could impact the company's financial stability.

What are some potential risks mentioned in Empower Clinics' press release?

Risks include the efficacy of products, legislative changes affecting business, and challenges in obtaining necessary approvals.