EPWCF - Empower Clinics signs LOI for C$5M equity capital facility

2023-06-06 14:01:24 ET

• Empower Clinics ( OTC:EPWCF ) has announced that it has entered into a LOI with Crescita Capital for a C$5M equity capital facility, that Empower will have 3 years to utilize to develop the business of the Co.
• The Commitment is intended to be used for general working capital purposes, strategic business development and expansion of clinical trial assets.
• "Having access to flexible capital as and when the company requires allows us to plan for long term success with a growth strategy based on sustained cash flows." said Steven McAuley, Empower Chairman & CEO.
• The Co. has also entered into debt settlement agreements with creditors on May 30 ^th , 2023 for the settlement of debt in the aggregate amount of C$68,900.
• This was settled through the issuance of an aggregate of 4.59M common shares in the capital of the Co. at a deemed issue price of $0.015/Share considered.

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