NR Delay in Annual FilingEmpower Announces Anticipated Delay inAnnual Filing
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FORDISSEMINATION IN THE UNITED STATES/VANCOUVER, April 26, 2019 /CNW/ - EMPOWER CLINICS INC. (CSE: CBDT) (Frankfurt 8EC)("Empower" or the "Company"), today announced it anticipates a delay in filing its audited annualfinancial statements for the year ended December 31, 2018, and the related management'sdiscussion and analysis and certificates of its CEO and CFO (collectively, the "Required Filings")with Canadian securities regulators until after the April 30, 2019 filing deadline.
The additional time isrequired to permit the Company's auditors, MNP LLP, to complete their review and enquiries inconnection with the audit of the Company's 2018 financial statements. The Company and its auditorsare working diligently, and the Company intends to make the Required Filings as soon as possibleand by no later than May 15, 2019.In connection with this anticipated delay, the Company has applied to the Ontario SecuritiesCommission, the Company's principal regulator in Canada, for a customary management ceasetrade order (the "MCTO") relating to trading in the Company's securities by the Company's CEO andCFO.
There is no guarantee that the MCTO will be granted. If granted, the MCTO should not affectthe ability of other shareholders to trade in the securities of the Company.If the MCTO is granted, the Company intends to comply with the provisions of the alternativeinformation guidelines set out in National Policy 12-203 Management Cease Trade Orders ("NP 12-203") by providing bi-weekly updates by way of news release until the Required Filings have beenmade.