EMPOWER CLINICS INC - EPWCF STOCK NEWS

Empower Clinics announced that Kai Medical Laboratory has launched its COVID-19 vaccine drive-through service in Dallas, Texas, following approval from health authorities. Effective November 8, 2021, the facility offers both Pfizer-BioNTech and Janssen vaccines, leveraging CARES Act funding for uninsured vaccinations. The initiative aims to meet increasing demand due to government mandates and the spread of variants. The clinic anticipates high turnout, targeting businesses and schools for convenient vaccination services, thereby enhancing revenue potential.

Empower Clinics Inc. (OTCQB: EPWCF) has opened a new The Medi-Collective (TMC) clinic in Mississauga, Ontario, expanding its healthcare services. This satellite location offers family medicine, internal medicine, and pharmacy services, enhancing patient access to integrated healthcare. Currently, Empower operates five TMC clinics and plans to add more, with several in development and acquisition stages. The Mississauga clinic is now fully operational, accepting new patients and walk-in appointments, reinforcing the company's commitment to community healthcare.

Empower Clinics Inc. (OTCQB:EPWCF) has announced plans to close its Portland clinic by October 31, 2021, and is negotiating the sale of its subsidiary, Sun Valley Certification Holdings, LLC. The updated Letter of Intent proposes the sale for 1,000,000 shares of Empower and prepaid rent. This strategic move aims to refocus the company on its healthcare business model, including telemedicine and diagnostics, while divesting from cannabis assets. Completion of the sale is subject to due diligence and customary closing conditions.

Empower Clinics Inc. (OTCQB: EPWCF) announced plans to acquire 1814764 Ontario Limited, known as Sudbury Clinics, which operates four healthcare locations in Ontario and has 400,000 patient files. The acquisition is valued at $4.8 million CAD and is expected to add over $4 million in annual revenue and enhance EBITDA by 12%. The deal aims to expand The Medi-Collective’s patient database and integrated healthcare offerings, which include telemedicine and specialty services. The transaction is pending due diligence and is aimed to be completed by early December 2021.

Empower Clinics has announced that its subsidiary, Kai Medical Laboratory, received approval to administer COVID-19 vaccinations in the U.S. This approval enables Kai Lab to begin placing orders for Pfizer-BioNTech and Johnson & Johnson vaccines immediately. The lab anticipates earning $40 per vaccine administered from government programs. Kai Lab's first batch of 1,200 vaccines is expected within two weeks. The announcement comes amid a growing demand for vaccinations, especially as the FDA considers emergency use authorization for children aged 5 to 11.

Empower Clinics Inc. (OTCQB: EPWCF) announced the proposed acquisition of 2873847 Ontario Inc., which operates four medical clinics in Thornhill, Ontario. This strategic move is expected to add over $4 million to revenue and enhance EBITDA by 15%. The integration of Thornhill Clinics and its 200,000 patient files into the Medi-Collective brand will expand service offerings, including telemedicine and specialty services. The acquisition, valued at $4.2 million, involves a cash payment and share issuance, subject to due diligence by mid-December.

Empower Clinics Inc. has officially opened its second clinic under the 'The Medi-Collective' brand in Etobicoke, Ontario. This clinic will operate with four family doctors and two specialists, providing a variety of healthcare services, including pharmacy and paramedical services. The annual revenue for this location is projected between $2,560,000 and $3,600,000. The company plans to open additional clinics, with a total of 33 locations in the pipeline across Canada, maintaining a schedule to launch new clinics every three weeks.

Empower Clinics has secured a contract with the British Columbia First Nations Health Authority (FNHA) to distribute diabetic testing products across First Nations communities. The partnership involves supplying MediSure's Multi-User Glucose Meter and related products from September 1, 2021 to August 31, 2023. With diabetes rates significantly higher in First Nations populations, this initiative aims to enhance diabetic management and healthcare accessibility. Empower seeks to establish itself as a leading provider of diabetic management devices in Canada.

Empower Clinics Inc. has entered into a Service Agreement with Fobi AI Inc. to integrate Fobi's Wallet pass technology into Empower's Kai Care COVID-19 testing product. This partnership aims to enhance digital customer experience by allowing users to securely receive their test results directly on their mobile wallets. The integration is timely due to rising demand for digital health verification. The collaboration is expected to create new revenue streams through customer engagement and advertising opportunities. Empower anticipates increased market share in the growing COVID-19 testing market.