Empower Clinics Completes Sale of Sun Valley Health
The company has signed a definitive agreement for the 100% sale of Sun Valley Health and its subsidiaries
VANCOUVER, BC / ACCESSWIRE / March 4, 2022 / EMPOWER CLINICS INC. (CSE:CBDT)(Frankfurt:8EC)(OTCQB:EPWCF) (“Empower“or the”Company“) an integrated healthcare company – serving patients through medical centers, telemedicine platforms, a medical device company and a high-complexity medical diagnostic laboratory – has completed the 100% sale of Sun Valley Health Holdings, LLC and all of its subsidiaries (together “Sun Valley Health“).
Empower and Andrea Klein and Dustin Klein (the “Kleins”) have entered into a definitive agreement to sell 100% of Empower’s Sun Valley Health to the Kleins in exchange for 1,000,000 shares of Empower common stock based on a 10-day volume-weighted average price (VWAP) of C$0.24 per share.
“The sale of Sun Valley Health allows Empower to fully focus on our vision of developing integrated healthcare,” said Steven McAuley, president and CEO of Empower. “Our strategy is to develop a broad, integrated healthcare network that leverages partnerships to provide patients with convenient, high-quality integrated healthcare testing services, products and solutions. The full divestiture of these assets is a huge step forward, it opens doors to engage a wide range of new partners, especially in banking, auditing and insurance.”
Following this transaction, Empower continues to focus on growing The Medi-Collective, MediSure and Kai Medical Laboratory. These divisions encompass initiatives such as the expansion of national medical centers, the distribution of high-quality healthcare products, testing solutions that support the cruise industry, and healthcare research and development. health.
This press release is available on the Empower Clinics Verified forum on AGORACOM for shareholder discussions, questions and dialogue with management https://agoracom.com/ir/EmpowerClinics
Empower is an integrated healthcare company that provides physical and mental well-being to patients through its clinics, with digital and telemedicine care, a medical device company and world-class medical diagnostic laboratories. Supported by an experienced management team, Empower is aggressively growing its clinical and digital presence in North America. Our Health & Wellness and Diagnostics & Technology business units are positioned to positively impact the integrated health of our patients, while simultaneously delivering long-term value for our shareholders.
ON BEHALF OF THE BOARD OF DIRECTORS:
Chief Executive Officer
Steven McAuley CEO
Business Development and Communications [email protected]
DISCLAIMER REGARDING FORWARD-LOOKING STATEMENTS
This press release contains certain “forward-looking statements” or “forward-looking information” (collectively “forward-looking statements”) within the meaning of applicable Canadian securities laws. All statements, other than statements of historical facts, are forward-looking statements and are based on expectations, estimates and projections as of the date of this press release. Forward-looking statements can often be identified by words such as “plans”, “continues”, “expects”, “projects”, “intends”, “believes”, “anticipates”, “estimates”, “may”, “will”, “potential”, “proposed” and other similar words, or information indicating that certain events or conditions “may” or “will” occur. Forward-looking statements in this press release include statements regarding: the company’s plans to offer additional Empower services and products, and the closing of the sale of Sun Valley Health These forward-looking statements are based on assumptions currently known to management, and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the forward-looking statements, including: that the Company may be unable to enter into definitive agreements or onclude transactions; that legislative changes may have a negative effect on the Company’s activities and the development of its products; that the Company may not be able to obtain adequate financing to pursue its business plan; that the Company will be able to begin and/or complete construction and leasehold improvements for the new clinics; general business, economic, competitive, political and social uncertainties; and other factors beyond the Company’s control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur as or when expected, or not at all, or, if they occur, what benefits the Company will derive therefrom. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this release, which are qualified in their entirety by these cautionary statements. The Company is under no obligation, and expressly disclaims any intention or obligation, to update or revise any forward-looking statements contained in this release, whether as a result of new information, future events or otherwise, unless this is expressly required by applicable securities laws.
THE SOURCE: Empower Clinics Inc.
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