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Empower Clinics has announced a non-brokered private placement aiming to raise up to $3 million. The offering will include units priced at $0.20 each and unsecured convertible debentures priced at $1,000. Each Unit comprises one common share and a warrant for two years at $0.30. Notably, CEO Steven McAuley plans to subscribe for 1.75 million units. Proceeds will support growth plans and general expenses. The closing is expected around January 6, 2022, subject to regulatory approvals. All securities will be under a four-month hold period.
Empower Clinics Inc. (OTCQB: EPWCF) announced that its subsidiary, MediSure Canada, has obtained Health Canada Medical Device Licences for two new products: a Blood Glucose Monitoring System and a Vitamin D Rapid Test. The Blood Glucose Monitor features Bluetooth capabilities, enhancing patient data management. The Vitamin D test, the first of its kind for home use in Canada, aims to reduce healthcare system burdens. Scheduled for rollout in Q1 2022, these products respond to significant market demands.
Empower Clinics Inc. (OTCQB:EPWCF) has opened its first The Medi-Collective (TMC) clinic in London, Ontario, accepting new patients as of today. This 3,400 sq. ft. facility offers a range of services, including family medicine, teledermatology, and various paramedical services. With five family doctors already on staff, plans are in place to hire more medical professionals and expand specialist services. Empower is also in the process of opening additional clinics across Ontario, enhancing patient access to integrated healthcare.
Health Canada Approval opens opportunities for increased sales of MediSure branded COVID-19 Rapid Antigen Tests in Canada. Empower Clinics Inc.'s subsidiary, MediSure Canada, has submitted an application for an Interim Order to manufacture and sell these tests. The Company expects a response by early Q1 2022 and aims to address the critical demand for testing amid rising COVID-19 cases. MediSure plans to leverage its expertise and partnerships with pharmacies for distribution and is also pursuing FDA Emergency Use Authorization for the U.S. market.
Empower Clinics Inc. has appointed Jennifer Archibald as its new Chief Financial Officer (CFO), bringing over two decades of financial leadership experience. Archibald's past roles include CFO at Cardiome Pharma, where she successfully managed equity and debt financings exceeding $250M. Steven McAuley, CEO, emphasized the importance of her expertise as Empower aims for hyper-growth and uplisting. Additionally, the company granted stock options for up to 700,000 common shares at prices ranging from $0.24 to $0.37, valid until 2026.
Empower Clinics Inc. (OTCQB:EPWCF) has announced the opening of its new clinic, The Medi-Collective, in Kitchener, Ontario. The 2,500 sq. ft. facility is co-located with a Rexall pharmacy and is now accepting patients for family and internal medicine, as well as paramedical services. Empower's expansion plan includes operational clinics and additional locations in development. The clinic aims to provide an integrated healthcare experience, incorporating various health services to enhance patient care and accessibility.
Empower Clinics has partnered with Fobi AI Inc. to launch a new SMS integration system enhancing Kai Labs' COVID-19 testing infrastructure. This program will be implemented across Empower's subsidiaries to streamline patient experiences. The SMS system was first utilized at the Gala Games Conference in Las Vegas, allowing for a paperless registration and direct SMS delivery of test results. The initiative is expected to improve efficiency and patient engagement across various business operations in the company.
Empower Clinics has announced that its subsidiary, Kai Medical Laboratory, has been selected as the COVID-19 testing partner for the Gala Games Conference in Las Vegas, held from December 11-13, 2021. The laboratory is set to provide over 6,000 rapid antigen and PCR tests to ensure the health and safety of attendees at this key event in the gaming industry. The initiative includes rigorous COVID-19 screening protocols and paperless registration to facilitate social distancing. Empower is positioning itself to leverage this partnership for future COVID-19 testing and vaccination contracts.
Empower Clinics has received approval from Health Canada to resume sales of its Kai Care COVID-19 At-Home Saliva Collection Kit. The company originally paused sales in September 2021 for a classification review, which confirmed the kit's initial Device Class I status. Following this approval, Empower is updating product labeling and preparing for a re-launch in Canada, while maintaining availability in the U.S. market. The company emphasizes its commitment to expanding its integrated healthcare services across North America.
Empower Clinics Inc. (OTCQB: EPWCF) announced significant financial growth in its Q3 2021 report, showing a 372% year-over-year increase in revenue, totaling $405,707 compared to $85,960 in Q3 2020. For the first nine months of 2021, revenue soared 1,349% to $3,226,335. Despite a loss from operations of $903,406 in Q3, the company reported a net income of $2,330,242. Recent strategic moves included the opening of additional clinics and approval for COVID-19 vaccinations, aiming to enhance its operational capabilities across North America.
