Empower Clinics and EuroLife Brands Close Definitive Agreement
Sign Multi-Year Multi-National License Agreement
Empower Clinics to power online education platform for patients, retail locations, and their expanding network of franchisees with EuroLife's Cannvas.me
Toronto, Ontario--(Newsfile Corp. - May 15, 2020) - EuroLife Brands (CSE: EURO) (FSE: 3CMA) (OTC Pink: EURPF) ("EuroLife" or the "Company"), a vertically integrated enterprise focused on the pan-European hemp, cannabinoid, and health and wellness sector, is pleased to announce that further to the letter of intent announced on February 25, 2020 it has signed a definitive agreement with Empower Clinics Inc. (CSE: CBDT) (OTCQB: EPWCF) (FSE: 8EC) ("Empower"), a vertically integrated and growth-oriented CBD life sciences company. 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. The EuroLife platform will also serve a growing network of nationwide retailers in the United States.
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. An annual licensing fee will be paid over the life of the proposed agreement, consisting of a mixture of cash and stock totalling $460,000 of top line revenue for EuroLife over the course of the next 3 years.
"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. Executing on a renewed B2B technology model EuroLife recently delivered a redesigned budtender education portal for Aphria Inc. (see February 4, 2020 news release), the global cannabis leader with an unrelenting commitment to people, product quality and innovation. The portal allows Aphria to ensure retail employees across Canada are well-versed in Aphria's line-up of adult-use brands and enabled with information to provide superior customer service.
Further to the news releases of April 23 and May 4, 2020 regarding EuroLife entering into a letter of intent to acquire 100% of the issued and outstanding securities of CWE European Holdings Inc., a Canadian Corporation, which owns and operates HANF Hemp Stores in Germany and Luxembourg, the management team reports the transaction is progressing as planned. HANF operates a seed-to-sale hemp CBD business in German-speaking countries in Europe, with seven locations and over 300+ health and wellness SKUs on the shelves. Currently, EuroLife is working with HANF to finalize a definitive agreement and concurrently to secure new retail locations and expects to announce new location in the very near future.
About Empower Clinics Inc.
Empower (CSE: CBDT) (OTCQB: EPWCF) (FSE: 8EC) 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.
About EuroLife Brands Inc.
EuroLife Brands (CSE: EURO) (FSE: 3CMA) (OTC Pink: EURPF) 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.
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Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Issuer's future plans, objectives or goals, including words to the effect that the Issuer or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis and other disclosure filings with Canadian securities regulators, which are posted on www.sedar.com.
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