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Empower Clinics Inc. (CSE:EPW) (OTC PINK:EPWCF) has announced it intends to complete a direct spinout of a wholly owned subsidiary of the company and vend in a healthcare artificial intelligence technology or service company. The transaction is currently anticipated to proceed by way of plan of arrangement pursuant to which it is anticipated the subsidiary will be spun out to as a new issuer on the Canadian Securities Exchange, and in conjunction the target will be acquired. Empower shareholders will receive subsidiary company shares distributed directly to the shareholders of Empower on a pro-rata basis.

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