Mr. Steven McAuley reports

EMPOWER CLINICS SIGNS LETTER OF INTENT FOR $5 MILLION EQUITY CAPITAL FACILITY AND PROVIDES ADDITIONAL CORPORATE UPDATES

Empower Clinics Inc. has entered into a letter of intent with Crescita Capital LLC for a $5-million equity capital facility.

Empower has entered into a letter of intent with Crescita for a $5-million equity capital facility that Empower will have three years to utilize to develop the business of the company.

The letter of intent is intended to describe the present interest of Crescita and Empower to pursue a transaction whereby the Crescita commits to investing $5-million in the company by way of an equity drawdown facility. The terms of the letter of intent are not comprehensive and additional terms, including customary representations and warranties, will be incorporated into a definitive equity drawdown facility agreement.

The commitment is intended to be used for general working capital purposes, strategic business development and expansion of clinical trial assets. The commitment allows Empower to drawdown on the facility, at the discretion of the company's management. The drawdowns are not mandatory, allowing Empower to selectively utilize this financing tool when capital is needed.

"We are thrilled with the opportunity to work with the Crescita team who have embraced Empowers path forward to becoming a site management organization (SMO), with the goal of impacting the lives of patients through research and clinical trials," said Steven McAuley, Empower chairman and chief executive officer. "Having access to flexible capital as and when the company requires allows us to plan for long-term success with a growth strategy based on sustained cash flows."

Mr. McAuley continues: "At the core the company has always provided patient care, facility management and the administration of our health care professionals. These attributes are required to successfully manage sites for clinical trials. We play the all-important role of providing oversight, direction and support to the PI's and their patients ensuring the sites all operate within the guidelines of the study protocol as set by the sponsor and CRO."

The company also announces that it entered into debt settlement agreements with creditors on May 30, 2023, for the settlement of debt in the aggregate amount of $68,900, which was settled through the issuance of an aggregate of 4,593,333 common shares in the capital of the company at a deemed issue price of 1.5 cents per share considered and on June 1, 2023, the settlement of debt in the amount of $562.25, which was settled through the issuance of 37,483 shares at a deemed price of 1.5 cents per share.

About Empower Clinics Inc.

Empower is an integrated health care company with multidisciplinary clinics, a Canadian medical device company and has launched its first clinical research site becoming a site management organization (SMO) in Dallas, Tex. Empower is a leader in integrated health care and research solutions and is reshaping the model for patient-first wellness.

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