Source: Psychedelic Invest
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  • Empower Clinics (EPW) has closed its non-brokered private placement for aggregate gross proceeds of $842,500
  • The company issued 16,850,000 units at a price of $0.05 per unit
  • Each unit consists of one common share and one share purchase warrant
  • The company expects to use the proceeds for working capital needs as well as for general administrative expenses
  • Empower is an integrated healthcare company that provides body and mind wellness for patients through its clinics
  • Empower Clinics Inc. (EPW) remains unchanged, trading at C$0.03 per share at 12:18 pm ET

Empower Clinics (EPW) has closed its non-brokered private placement for aggregate gross proceeds of $842,500.

The company issued 16,850,000 units at a price of $0.05 per unit. It issued 14,850,000 units as settlement of $742,500 in outstanding debt and 2,000,000 units for cash proceeds of $100,000.

Each unit consists of one common share and one share purchase warrant. Each warrant is exercisable into one additional share at $0.075 for two years from closing.

The company expects to use the proceeds for working capital needs and general administrative expenses.

All securities issued are subject to a statutory four-month hold period.

The company also announced the resignation of MNP, LLP as auditor of the company, effective December 13, 2022.

Empower is an integrated healthcare company that provides body and mind wellness for patients through its clinics.

Empower Clinics Inc. (EPW) remains unchanged, trading at C$0.03 per share at 12:18 pm ET.


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