Empower confirms it has commenced COVID-19 antibody testing in clinics under the phase one and phase two rollout plans, receives first Rapid COVID-19 test kits and places additional purchases of Rapid COVID-19 test kits.
VANCOUVER, BC / ACCESSWIRE / April 29, 2020 / EMPOWER CLINICS INC. (CSE:CBDT)(OTCQB:EPWCF)(Frankfurt:8EC) (“Empower” or the “Company“), a vertically integrated life sciences company, is pleased to announce it is actively testing patients using COVID-19 antibody testing under its phase one and phase two rollout plans in its Sun Valley Health clinics in Phoenix, AZ. The Company has also received its first Rapid COVID-19 antibody test kits and has purchased additional Rapid test kits to start meeting testing demand. The Company also provides an update on the timing of the release of its financial results and associated filings for the fourth quarter and fiscal year ended December 31, 2019.
The Company is utilizing the temporary relief exemption provided by the Ontario Securities Commission under Ontario Instrument 51-502 – Temporary Exemption from Certain Corporate Finance Requirements (the “Instrument“), which provides a 45-day extension for periodic filings, including annual audited financial statements, as required by section 4.1(2) of National Instrument 51-102 – Continuous Disclosure Obligations, and related management’s discussion and analysis and CEO and CFO certifications (collectively, the “Annual Filings“), for the year ended December 31, 2019.
In accordance with the Instrument, the Company intends to file its Annual Filings no later than the extended deadline, as permitted under the Instrument, of June 15, 2020.
Until the Company has filed the Annual Filings, the Company confirms that its management and other insiders are subject to a trading blackout that reflects the principles in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions. The Company further confirms that, other than as disclosed in this news release or other news releases or material change reports filed by the Company since November 14, 2019, being the date of filing of the Company’s unaudited interim financial statements and related filings for the period ended September 30, 2019, there have been no undisclosed material business developments with respect to the Company.
“The Company’s four-phase national COVID-19 testing program utilizing Rapid COVID-19 test kits is underway in the United States and our first patients are expecting test results starting today,” said Steven McAuley, Chairman & CEO of Empower. “The operational processes we have established to manage the patient experience are proving stable and effective, as is the technology workflow that registers a patient, books an appointment and collects payment on the Sun Valley Health website.”
Phase One – Testing in clinics in Arizona, utilizing a patient blood draw by clinic phlebotomists, then samples are sent to our laboratory test partner for analysis, with test results expected within 48 hours. This program is now active and appointment rates are expanding rapidly.
Phase Two – Offering a Rapid COVID-19 antibody test with results in 1-15 minutes. The service will be offered in-clinics using a drive-up service, conducted by Company clinic staff. In addition, an outbound door-step service, to support a variety of consumer, patient and community needs will be offered using certified mobile technicians. The online portal will be open to book appointments commencing May 1, 2020.
Phase Three – Business Employee Testing (BET) programs, offering Rapid COVID-19 testing to businesses on a one-time basis, repeat basis and/or subscription basis, to assist businesses to get back to work safely, will be offered. The Company anticipates phase three services will commence in May 2020.
Phase Four – U.S. nationwide roll-out, offering all phases of Company services, that can be accessed online at Company websites and call centers, to purchase Rapid COVID-19 test kits. The Company anticipates phase four services to commence in Q3 2020.
Empower is a vertically integrated health & wellness brand with a network of corporate and franchised health & wellness clinics in the U.S. The Company is building its first hemp-derived CBD extraction facility and produces its proprietary line of cannabidiol (CBD) based products. The Company is a leading multi-state operator of a network of physician-staffed wellness clinics, focused on helping patients improve and protect their health, through innovative physician recommended treatment options. The Company has commenced activity on how to connect its significant data, to the potential of the efficacy of alternative treatment options related to hemp-derived cannabidiol (CBD) therapies, psilocybin and other psychedelic plant-based treatment options. The Company now offers COVID-19 testing options in the United States and physician-based consultations, to address COVID-19 concerns.
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