08:47:54 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Empower Clinics Inc (2)
Symbol EPW
Shares Issued 88,465,505
Close 2023-08-08 C$ 0.035
Market Cap C$ 3,096,293
Recent Sedar Documents

Empower closes $240,250 first tranche of financing

2023-08-09 11:49 ET - News Release

Mr. Steven McAuley reports

EMPOWER CLINICS ANNOUNCES CLOSING OF FIRST TRANCHE PRIVATE PLACEMENT FINANCING

Empower Clinics Inc. has closed a first tranche private placement of units of the company, pursuant to which the company issued 6,016,250 units at a price of four cents per unit for aggregate gross proceeds of $240,250.

Each unit comprises one common share of the company and one common share purchase warrant, with each warrant exercisable to acquire one common share at a price of five cents per warrant share for a period of 24 months from the closing of the offering.

The company intends to use the net proceeds raised under the offering to advance its growth plans, and for working capital purposes and general administrative expenses.

The securities issued pursuant to the offering will be subject to a four-month hold period under applicable securities laws in Canada.

In connection with the offering, $50,000 of the offering is a result of a settlement with an arm's-length service provider through the issuance of 1.25 million units.

The company also announces that is has issued an aggregate of one million stock options to independent directors and key employees. Each option is exercisable to acquire one common share of the company at a price of five cents for a period of five years from grant. Certain options are fully vested on issuance with other options subject to vesting periods over the course of the term of the options.

About Empower Clinics Inc.

Empower is an integrated health care company with multidisciplinary clinics, a Canadian medical device company and has launched two clinical research sites, becoming a site management organization (SMO) with six principal investigators (PI) with multiple clinical trials under application. Empower has announced its intention to create a proposed spinout with a focus on health care artificial intelligence to support identification, recruitment and onboarding of clinical trial patients.

We seek Safe Harbor.

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