Empower Clinics and EuroLife Brands Close Definitive Agreement and Sign Multi-Year Multi-National Licence Agreement – GuruFocus.com

Empower Clinics to power online education platform for patients, retail locations, national tele-medicine platform and their expanding network of franchisees with EuroLife's Cannvas.me

VANCOUVER, BC / ACCESSWIRE / May 15th, 2020 / EMPOWER CLINICS INC. (CSE: CBDT) (OTC: EPWCF) (Frankfurt 8EC) ("Empower" or the "Company"), a vertically integrated life sciences company, is pleased to announce that further to the letter of intent announced on February 25, 2020 it has signed a definitive agreement with EuroLife Brands ("EuroLife"), a vertically integrated enterprise focused on the pan-European hemp, cannabinoid, and health and wellness sector. The agreement grants Empower an exclusive license to EuroLife's "Cannvas.me" cloud based online educational platform in certain international jurisdictions. Empower will use the web-based education technology platform to deliver brand, product, and industry knowledge to employees and over 165,000 patients across Empower's six corporate clinics in Arizona, Oregon, its first franchise in Oklahoma and nationwide tele-health platform.

Under the terms of the agreement, Empower has been granted an exclusive license of the Cannvas.me platform in the United States and Mexico with an option to expand to other jurisdictions. The agreement includes a three-year term with a three-year renewable option. A licensing fee will be paid over the life of the agreement, consisting of a mixture of cash and stock totalling $460,000 CAD and includes comprehensive service level agreements from EuroLife and ongoing support from EuroLife team roles including VP of Technology, Senior Developer, Quality Assurance, Creative Designer, Program Management, Account Management and regular support from EuroLife's CEO.

"We needed a robust platform to reach our growing network of owned and franchised locations across the United States and EuroLife's Cannvas.me education platform exceeds all of our requirements," said Steven McAuley, chairman and chief executive officer of Empower. "We now have the ability to reach our employees and the patients they serve through a safe, secure and informative online education portal. I believe the ability to deliver consistent product education quickly and efficiently is a competitive advantage that we will leverage as we continue to grow our patient count and number of locations."

"I am very pleased to announce the agreement with Empower to license our Cannvas.me education portal to reach both employees and medical and retail consumers on an incredibly efficient basis," said Shawn Moniz, Chief Executive Officer, EuroLife Brands Inc. "I look forward to working with Steven and his incredible team at Empower as they expand their footprint across the United States."

Cannvas.me is a consumer education portal launched in 2018 for medical and recreational cannabis consumers. Through many discussions with industry stakeholders the management team discovered there was significant demand for a cloud-based education portal for licensed producers, retail dispensaries and other large to mid-sized companies in the cannabis sector.

ABOUT EMPOWER

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.

About EuroLife Brands Inc.

EuroLife Brands is a leading global markets cannabis brand empowering the medical, recreational and CPG cannabis industry worldwide through a data-driven CBD marketplace supported by exclusive and unbiased physician-backed cannabis education and detailed consumer analytics.

ON BEHALF OF THE BOARD OF DIRECTORS:

Steven McAuleyChief Executive Officer

CONTACTS:

Investors: Steven McAuley

CEO

[emailprotected]

604-789-2146

Investors: Dustin Klein

SVP, Business Development

[emailprotected]

720-352-1398

For French inquiries: Remy Scalabrini, Maricom Inc., E: [emailprotected], T: (888) 585-MARI

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 expected timing of filing of its Annual Filings, the Company's intention to create psilocybin and psychedelics divisions, that market research on advancements in psilocybin and psychedelics in North America and globally will create greater shareholder value, the Company's intention to open a hemp-based CBD extraction facility, the expected benefits to the Company and its shareholders as a result of the proposed acquisitions and partnerships; the effectiveness of the extraction technology; the expected benefits for Empower's patient base and customers; the benefits of CBD based products; the effect of the approval of the Farm Bill; the growth of the Company's patient list and that the Company will be positioned to be a market-leading service provider for complex patient requirements in 2019 and beyond; the ability of the Company to complete or execute phases One, Two, Three or Four of COVID-19 test programs, and Psychedelic substances remain illegal in most countries, so please reference your local laws in relation to medical or recreational use. Such statements are only projections, 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 Company may not open a hemp-based CBD extraction facility; that legislative changes may have an adverse effect on the Company's business and product development; that the Company may not be able to obtain adequate financing to pursue its business plan; general business, economic, competitive, political and social uncertainties; failure to obtain any necessary approvals in connection with the proposed acquisitions and partnerships; and other factors beyond the Company's control. No assurance can be given that any of the events anticipated by the forward-looking statements will occur 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 laws.

SOURCE: Empower Clinics Inc.

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Empower Clinics and EuroLife Brands Close Definitive Agreement and Sign Multi-Year Multi-National Licence Agreement - GuruFocus.com