EMPOWER CLINICS INC - EPWCF STOCK NEWS

Empower Clinics Inc. (CSE:EPW)(OTCQB:EPWCF) has entered a Letter of Intent with Specialty Network of North America Inc. to enhance access to specialty healthcare for underserved communities in the U.S. The initiative addresses significant healthcare gaps, with 65 million Americans lacking adequate primary care. Initial pilots for cardiology services are planned in Pittsburgh and Dallas in 2023, leveraging Empower's diagnostics unit. The partnership aims to improve healthcare affordability and quality, with further investments anticipated from strategic partners.

Empower Clinics reported a significant 288% year-over-year revenue increase for Q3 2022, reaching $1,573,809 compared to $405,707 in Q3 2021. This growth is largely attributed to COVID-19 testing solutions and increased sales from its medical devices segment, MediSure. The company achieved a 59% gross margin for the quarter, though it experienced a net loss of $457,066, improved from the previous year's loss of $1,711,659. The company's cash reserves total $469,712 as of September 30, 2022.

Empower Clinics Inc. (CSE:EPW)(OTCQB:EPWCF) announces the appointment of Eric Christian as the new General Manager of Medisure Labs. With over 20 years of experience in the healthcare sector, Eric has a proven record in scaling diagnostics laboratories and strong ties with physicians in the Dallas/Fort Worth area. His leadership is expected to enhance operational growth, particularly in at-home testing solutions and US market entry. CEO Steven McAuley expressed confidence in Eric's ability to drive Medisure Labs' success.

Empower Clinics Inc. (CSE:EPW, OTCQB:EPWCF) has announced a non-brokered private placement aiming to raise up to $1.25 million. This includes $250,000 from secured convertible debenture units priced at $1,000 each, and $1,000,000 from common share units priced at $0.05 each. The company will also settle $3,786,400 in outstanding convertible debentures by issuing a new convertible debenture, allowing conversion at a reduced price of $0.05. The financing is subject to Canadian Securities Exchange approval and proceeds will be utilized for working capital.

Empower Clinics Inc (CSE:EPW, OTCQB:EPWCF) announced a partnership with Heart Wellness Cardiac Clinics and Holter Health to launch cardiology services through The Medi-Collective (TMC). The program aims to provide vital services like Holter monitoring and stress tests, enhancing patient care by reducing wait times for results. This initiative represents a new revenue stream for TMC while aligning with Empower's vision of integrated healthcare. The partnership promises timely access to cardiac care within existing clinics, bolstering Empower's presence in specialty health services.

Empower Clinics Inc. (CSE:EPW, OTCQB:EPWCF) has appointed Alexis Wukich to its Board of Directors effective immediately. Wukich brings 15 years of experience in the U.S. healthcare sector, with notable roles including Executive Vice President at Danan Healthcare Consulting Group. Her expertise in legal and operational challenges within the industry is deemed valuable as Empower expands its market presence. The company also announced the resignation of Yoshi Tyler from the Board.

This leadership change is anticipated to enhance Empower's strategic growth in integrated healthcare solutions across the U.S.

Empower Clinics, through its subsidiary MediSure Canada, has secured a three-year contract valued at approximately $1.5 million CAD to provide diabetes testing supplies to the federally incarcerated population in Canada.

This marks the third consecutive win for MediSure with the Correctional Service of Canada, showcasing their reliability in meeting government needs. The contract highlights the growing importance of diabetes management in the Canadian healthcare system and is expected to enhance revenue generation opportunities for the company.

Empower Clinics Inc (CSE:EPW, OTCQB:EPWCF) has resumed trading on the Canadian Securities Exchange following the revocation of a cease trade order by the British Columbia Securities Commission. The company has changed its ticker symbol from 'CBDT' to 'EPW', aligning with its focus on integrated healthcare and moving away from cannabis-related business. Empower Clinics is also making significant changes, including searching for a new auditor, changing its fiscal year-end to March 31, hiring a new CFO, and plans to re-list on the Frankfurt Stock Exchange.

Empower Clinics announced its Q2 2022 results, showcasing an 80% year-over-year revenue increase to $1,553,980 and a net income of $2,165,855. This growth is attributed to the successful launch of COVID-19 testing clinics for cruise passengers. Gross margin also improved to 47% from 4% a year earlier. However, cash used in operations increased significantly to $1,624,449. Post-period highlights include the launch of a new Blood Glucose Monitor and a CFO resignation.