Buy It or Sell It? Empower Clinics Inc. (OTCMKTS:EPWCF)

Empower Clinics Inc. (OTCMKTS:EPWCF) is trading with a mild fall in the opening session on Monday. The stock has gained almost 15% over the past month.

Market Action

At 11, EPWCF stock is down by 0.30% at $0.5539. The stock has traded 92K shares compared to its average volume of 227K shares.  The stock opened at $0.54 and moved in a range of $0.5400 – 0.5895.

Major Trigger:

Empower Clinics and Pharmachoice Partner to Offer Kai Care Testing

Key Highlights:

• EPWCF signed a Memorandum of Understanding (“MOU”) for a six-month pilot program between Empower and Pharmachoice for distribution and resale of Kai Care COVID-19 Testing Solutions. The products will include Rapid Antigen Testing, Rapid Antibody Testing and Saliva RT-PCR tests.
• Pharmachoice is a fast growing, independently owned Canadian Pharmacy network with more than 900 locations covering the PharmaChoice and RxHealthMed brands. Pharmachoice has an impressive network of over 2,000 pharmacists with nearly two decades of experience as a company.
• The company’s local ties across numerous regions make it a great partner in providing direct consumer sales of Kai Care Testing Solutions.
• Under the MOU, Pharamchoice and Empower agree to a six-month pilot program to allow both parties to fully evaluate revenue, marketing and partnership expansion opportunities. It is the goal for this period to determine the optimal business model that will best serve PharmaChoice and their patients. Empower will provide Pharmachoice with Health Canada Approved COVID-19 Testing Solutions (Rapid Antigen Testing, Rapid Antibody Testing and Kai Saliva RT-PCR tests), express shipping on all ordered units, and technical support.

Key Quote:

“The expansion to Pharmachoice’s network is a phenomenal step forward in our plan to provide Kai Care Testing solutions directly and conveniently to consumers” stated Steven McAuley, Chairman and CEO of Empower Clinics. “We are excited to build on this progress through our ongoing advanced conversations with other major pharmacy groups from across North America.”