Empower Clinics Provides Corporate Update

VANCOUVER, BC / ACCESSWIRE / May 19, 2023 / EMPOWER CLINICS INC (CSE:EPW)(PINK:EPWCF) ("Empower" or the "Company") an integrated healthcare company with a developing research and clinical trials division announces various corporate updates.

MAY 6, 2022 FILING DISCLOSURE UPDATE

As a result of a review by the British Columbia Securities Commission, we are issuing the following press release to clarify our disclosure. The Company advises that the May 6, 2022 restated unaudited condensed interim consolidated financial statements and related Management's Discussion and Analysis for the three and six months ended September 30, 2021, were duly authorized prior to filing, however there was an incorrect director name included on the filed documents.

In consultation with the Board of Directors and accounting services the Company has implemented measures to ensure this type of oversight does not happen in the future.

The Company also announces that it entered into debt settlement agreements with creditors on May 15^th, 2023, for the settlement of debt in the aggregate amount of $ 67,531.40 CAD, which was settled through the issuance of an aggregate of 4,502,093 common shares in the capital of the Company (each, a "Share") at a deemed issue price of $0.015 per Share considered (the "Debt Settlement").

All Shares issued pursuant to the debt settlement have been issued with no hold period with prior written consent of the Canadian Securities Exchange. None of the Shares will be registered under the United States Securities Act of 1933, as amended, and none may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities of the Company, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

This press release is available on the Empower Clinics Verified Forum on AGORACOM for shareholder discussion, questions, and engagement with management https://agoracom.com/ir/EmpowerClinics

To get enhanced access to investor information about Empower Clinics, please visit the download page to get your Empower Clinics Investor Experience Wallet Pass today.

ABOUT EMPOWER:

Empower is an integrated healthcare company with multi-disciplinary clinics, a Canadian medical device company and has launched its first clinical research site becoming a Site Management Organization (SMO) in Dallas, TX. Empower is a leader in integrated healthcare and research solutions and is reshaping the model for patient-first wellness.

ON BEHALF OF THE BOARD OF DIRECTORS:

Steven McAuley
Chief Executive Officer

CONTACTS:

Media:
Steven McAuley CEO
s.mcauley@empowerclinics.com
+1 855-855-9058

Investors:
Tamara Mason
Business Development & Communications
t.mason@empowerclinics.com
+1 855-855-9058

DISCLAIMER FOR FORWARD-LOOKING STATEMENTS

This news 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 fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements can frequently be identified by words such as "plans", "continues", "expects", "projects", "intends", "believes", "anticipates", "estimates", "may", "will", "potential", "proposed" and other similar words, or information that certain events or conditions "may" or "will" occur. Forward-looking statements in this news release include statements regarding: the Company's intention to create and operate a Dallas-based SMO, with plans to evolve into multiple SMO's; the parties' intentions that the Dallas-based SMO will work with industry, patients, community doctors and researchers in North America and globally to provide clinical trial management services; the parties' intentions to identify new cities to operate additional SMOs in 2023. Such forward-looking statements are based on assumptions known to management at this time, 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 parties will be able to negotiate and enter into the Definitive Agreement on mutually agreeable terms; that legal and financial due diligence will be completed to the satisfaction of the parties; that all necessary third party approvals will be obtained. No assurance can be given that any of the events anticipated by the forward-looking statements will occur on the terms or in the time expected, or at all, or, if they do occur, what benefits the Company will obtain from them. Readers are cautioned not to place undue reliance on the forward-looking statements 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 in this release, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.

SOURCE: Empower Clinics Inc.