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Empower Clinics Inc. C.EPW

Alternate Symbol(s):  EPWCF

Empower Clinics Inc. is a Canada-based integrated healthcare and medical device company with multi-disciplinary clinics. The Company provides body and mind wellness for patients through its medical clinics, digital and telemedicine care, medical diagnostics laboratories, and sale of medical devices. Its segments include Health & Wellness, comprising clinic operations, patient visits, and telemedicine services; Diagnostics & Technology, comprising the diagnostic testing services provided by Kai Medical, and the sale of medical equipment by Kai Medical Canada Corp. and MediSure; and Corporate. It is focused on offering clinical trial services, such as clinical trial design, patient recruitment, data management and regulatory compliance for the pharmaceutical, biotechnology and medical device industries. It has two clinical research sites in Dallas, Texas, becoming a site management organization (SMO) with six principal investigators (PI) with multiple clinical trials under application.


CSE:EPW - Post by User

Comment by 7Twiggyon Mar 01, 2021 12:30pm
178 Views
Post# 32685981

RE:RE:RE:RE:RE:RE:VP resignation

RE:RE:RE:RE:RE:RE:VP resignationIn connection with the closing of the Transaction (the "Closing"), Empower: (i) paid the Vendors an aggregate cash payment of US$775,000 (CAD$1,042,840), of which US$150,000 (CAD$201,840) is being heldback by Empower, half of which is to be released six months from the date of Closing and the other half of which is to be release twelve months from the date of Closing and (ii) issued the Vendors an aggregate of 22,058,823 common shares in the capital of the Company (each a "Share") at a deemed price of US$0.136 (CAD$0.183) per Share, representing the average daily closing price of the Shares on the Canadian Securities Exchange for the 10-day trading period ended April 26, 2019. 14,705,882 of the Shares will be held in escrow by Odyssey Trust Company pursuant to an escrow agreement dated April 30, 2019, and will vest in quarterly installments over 36 months from the date of the Closing. The Company also paid US$12,318 (CAD$16,575) and issued 350,602 Shares to a minority shareholder of one of the Sun Valley subsidiaries in order to acquire her minority interest therein.
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