Empower Clinics Confirms Having Three Active Directors and The Exchange Requested Halt Will Be Replaced With To Remain Halted Pursuant to CTO
Empower Clinics confirms it has three active Directors despite the recent death of one Director, ensuring compliance with regulations. Following a bulletin from IIROC regarding alleged non-compliance, the company clarified its status, and the exchange's halt bulletin will now indicate 'To Remain Halted' under a cease trade order (CTO). Empower continues to expand its integrated healthcare services across North America, focusing on patient wellness through clinics and medical diagnostics.
- Maintained compliance with three active Directors.
- Clarified status following IIROC bulletin, reducing uncertainty.
- Ongoing expansion in integrated healthcare services across North America.
- Company faced a halt bulletin due to initial allegations of non-compliance.
- Potential impact of a cease trade order (CTO) on stock liquidity.
VANCOUVER, BC / ACCESSWIRE / September 26, 2022 / EMPOWER CLINICS INC (CSE:CBDT)(Frankfurt:8EC)(OTCQB: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 - provides an update following the death of one of its Directors to confirm the company remains compliant having three active Directors and that the IIROC bulletin issued today September 26, 2022 at the direction of the Listing Exchange will be replaced with a "To Remain Halted" bulletin pursuant to a cease trade order (CTO).
"Based on some of the language from our press release of September 23, 2022, the Canadian Securities Exchange directed IIROC to issue a bulletin on the belief the Company was no longer compliant with the minimum required number of Directors." stated Steven McAuley, Chairman and CEO of Empower Clinics. "I was able to clarify the fact that we do have three active Directors at this time, and that we intend to name a replacement for the available seat."
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 that provides body and mind wellness for patients through its clinics, with digital and telemedicine care, a medical device company and world-class medical diagnostics laboratories. Supported by an experienced leadership team, Empower is aggressively growing its clinical and digital presence across North America. Our Health & Wellness and Diagnostics & Technology business units are positioned to positively impact the integrated health of our patients, while simultaneously providing long term value for our shareholders.
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, including: that the Company may be unable to enter into definitive agreements, or close transactions with respect to, proposed future clinic openings; that due diligence with respect to anticipated clinic openings and acquisitions may not be satisfactory to the Company; risks related to delays in permitting or construction; risks related to supply chains and access to labour; 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 the Company will be able to commence and/or complete build-outs and tenants improvements for new clinics; general business, economic, competitive, political and social uncertainties; 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 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/717464/Empower-Clinics-Confirms-Having-Three-Active-Directors-and-The-Exchange-Requested-Halt-Will-Be-Replaced-With-To-Remain-Halted-Pursuant-to-CTO
FAQ
What is the current status of Empower Clinics' board of directors?
What does the cease trade order mean for Empower Clinics (EPWCF)?
How is Empower Clinics addressing the IIROC bulletin issued on September 26, 2022?
What steps is Empower Clinics taking following the death of a Director?
