EMPOWER CLINICS INC - EPWCF STOCK NEWS

Empower Clinics Inc. (CSE:EPW, OTC PINK:EPWCF) has entered into a letter of intent with Dr. Bharat Mocherla to establish a Dallas-based Site Management Organization (SMO) aimed at servicing the clinical trials market. The joint venture will be 51% owned by Empower, with each party contributing US$200,000 in seed capital. The CRO services market is projected to grow from $76.6 billion in 2023 to $127.3 billion by 2028, driven by increased pharmaceutical R&D investments. Empower plans to leverage its diagnostics lab for the SMO operations, potentially expanding to other cities. The partnership signifies a strategic move amid ongoing growth in healthcare and diagnostics.

Empower Clinics (CSE:EPW, OTC PINK:EPWCF) has partnered with PulseIR, a subsidiary of Fobi AI Inc., to enhance their investor relations through automated, data-driven tools. This collaboration aims to modernize Empower's communication with existing and potential shareholders, utilizing mobile lock screen technology to deliver real-time updates on company news and events. CEO Steven McAuley stated this initiative will improve investor engagement, retention, and acquisition. Empower, known for its integrated healthcare solutions, operates medical centers and diagnostic laboratories across the US and Canada.

Empower Clinics announced that its subsidiary, MediSure Canada Inc., has received full approval for its next generation diabetes test strips to be included in the formularies of Alberta, Quebec, Veterans Affairs Canada, and Non-Insured Health Benefits for First Nations and Inuit. These approvals allow for reimbursement through government drug benefit programs, significantly impacting revenues. The company's CEO expressed confidence in future approvals across additional provinces. Additionally, the company announced amendments to warrants, reducing the exercise price from $0.30 to $0.075.

Empower Clinics Inc (CSE:EPW, OTCQB:EPWCF) announced a unit offering priced at $0.03 per unit, comprising one common share and one warrant exercisable at $0.075 for 24 months. The offering aims to raise between CAD $2 million and CAD $5 million and will close in tranches, starting around February 3, 2023. With no imposed hold period on the securities, the offering is set to occur under the Listed Issuer Financing Exemption. As of January 23, 2023, the last closing price was $0.02.

Empower Clinics has announced the consolidation of three under-performing The Medi-Collective medical clinics into its flagship Etobicoke location as of Q1 2023. This strategic move aims to optimize revenues and operations amid economic challenges. The affected clinics in London, Kitchener, and Etobicoke will cease operations, allowing for significant cost savings and improved cash flow. The flagship clinic will continue offering multidisciplinary care, supported by a strong team of medical professionals.

Empower Clinics Inc (CSE:EPW)(OTCQB:EPWCF) has announced a laboratory services agreement between its subsidiary, MediSure Laboratory, and Alp MedTech AG. This collaboration aims to support Alp MedTech in conducting clinical studies necessary for U.S. FDA 510K approvals of Atlas Medical GmbH's devices. The agreement follows a strategic partnership formed in December 2022, expected to enhance Empower’s revenue and facilitate the introduction of new medical devices into the U.S. market, leveraging Dallas's position as a key healthcare hub.

Empower Clinics has announced a new partnership with Specialist Network of North America (SSNA), allowing MediSure Laboratory to provide clinical laboratory services. This partnership aims to enhance access to quality healthcare for underserved communities in the US. The agreement will enable SSNA to offer comprehensive cardiology screening panels and point-of-care testing, supporting their mission. This collaboration is anticipated to generate consistent monthly revenue for Medisure Labs and aligns with Empower's strategy to expand its laboratory service agreements, enhancing shareholder value.

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.

Empower Clinics announced a partnership with Atlas Medical to enhance their presence in the U.S. market. This agreement grants Empower distribution rights for Atlas's FDA-approved products across multiple countries including the U.S. and Canada. The collaboration aims for immediate sales and marketing initiatives while utilizing Empower's MediSure Laboratory for further FDA approvals. This partnership is set to generate short-term revenues and support future U.S. manufacturing, demonstrating a strategic move for growth in the diagnostics sector.