Is There Support Here? Empower Clinics Inc (OTCMKTS:EPWCF) (CVE:CBDT)
Empower Clinics Inc (OTCMKTS:EPWCF) (CVE:CBDT) is trading sharply lower in the mid-day session on Tuesday after the news.
Market Action
As of 1:09, EPWCF stock moved down by 25% at $0.4832. The stock has traded 775K shares, compared to its average volume of 226K shares. The stock opened at $0.5400 and moved in a range of $0.4678 – 0.5516.
Major Trigger:
Empower Clinics Provides Bi-Weekly Update on Status of Management Cease Trade Order
Key Highlights:
- providing this bi-weekly update on the status of the management cease trade order granted by the British Columbia Securities Commission on May 3, 2021.
- The MCTO was issued in connection with the delay by the Company in filing its annual financial statements, management’s discussion and analysis and related officer certifications for the financial year ended December 31, 2020 (collectively, the “Required Filings”) before the prescribed deadline of April 30, 2021.
- The MCTO was granted pursuant to Empowers application made under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203”). The Company requested and received an extension relating to the Required Filings for delays primarily due to the impact of COVID-19 on the audit and associated required travel, of the Company’s recently acquired subsidiaries in both the US and Canada.
- The Company’s staff and accounting firm is working diligently with its auditors and the Company now anticipates having the audit of the Required Filings completed, and the Required Filings filed, by June 28, 2021.
