Empower Clinics (CSE: CBDT) has seen significant capital inflows as a result of the exercise of warrants. The company this morning reported that it had received $5.0 million from the exercise of warrants since December 14, 2020, bringing the total figure to $10.5 million as of late.
The inflow of capital enables the firm to focus on its national rollout strategy for its Canadian clinics as well as the growth of its KAI medical laboratory and Covid-19 test kit sales. The firm is now reportedly in “a strong financial position for continued rapid growth in its business divisions in 2021,” with its next phase of growth reportedly fully funded.
The company has also reportedly paid off certain outstanding long term debt that was owed to “key supporters of the company.” Specifics however were not provided, with it being unclear what debt, or how much debt, was in fact paid off. The text within the news release simply states “has paid in full outstanding long-term debt,” which does not implicitly state that all outstanding debts have been paid. The firm reported liabilities of $4.6 million as of September 30, 2020.
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Empower Clinics last traded at $0.92 on the CSE.
Information for this briefing was found via Sedar, and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
