VANCOUVER, BRITISH COLUMBIA, Jun 09, 2017 (Marketwired via COMTEX) — VANCOUVER, BRITISH COLUMBIA–(Marketwired – June 9, 2017) – Reliq Health Technologies Inc. (RHT)(otcqb:RQHTF) (“Reliq” or the “Company”), a technology company focused on developing innovative mobile health (mHealth) and telemedicine solutions for Community-Based Healthcare, is pleased to announce that it intends to complete a non-brokered private placement offering of up to 4,545,454 units (the “Units”) at a price of $0.11 per Unit for gross proceeds of up to $500,000 (the “Offering”). Each Unit will consist of one (1) common share in the capital of the Company (a “Share”) and one-half (1/2) transferable common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant exercisable into one additional Share at a price of $0.165 for a period of two years from the date of closing. Reliq is also pleased to announce entry into an Advisory Agreement with Gravitas Securities Inc. (“Gravitas”).
The Company may pay a finder’s fee on the Offering within the amount permitted by the policies of the TSX Venture Exchange (the “Exchange”). Closing of the Offering is subject to a number of conditions, including receipt of all necessary corporate and regulatory approvals, including the Exchange. All securities issued in connection with the Offering will be subject to a statutory hold period of six months plus a day from the date of issuance in accordance with applicable securities legislation. The Company anticipates that there may be insider participation in the Offering.
The net proceeds from the Offering will be used for general corporate working capital.
Advisory Agreement with Gravitas Securities Inc.
“We are pleased to announce that Reliq has entered into an Advisory Agreement with Gravitas Securities,” announced Dr. Lisa Crossley, CEO of Reliq. “We are excited by the strategic partnerships and strong track record the Gravitas team has established in the technology industry and we look forward to having them work with us to develop a capital markets strategy as our strategic advisors.”
About Gravitas Securities Inc.
Gravitas is known for sophisticated sector expertise, tactical individuals with a commitment to excellence, global integration and innovation, and as a leading independent wealth management and capital markets firm. Gravitas provides a wide range of investment mandates and services for retail and corporate clients globally from offices in Toronto, Vancouver, and Calgary, and is represented in the United States through its FINRA representative, Gravitas Capital International, in New York and San Francisco.
Reliq Health Technologies is a healthcare technology company that specializes in developing innovative software solutions for the Community Care market. Reliq’s powerful iUGO Care platform supports care coordination and community-based healthcare. The iUGO Care platform integrates wearables, sensors, voice technology and intuitive mobile apps and desktop user interfaces for patients, clinicians and healthcare administrators. iUGO Care allows complex patients to receive high quality care at home, improving health outcomes, enhancing quality of life for patients and families and reducing the cost of care delivery. Our platform provides real-time access to remote patient monitoring data, allowing for timely interventions by the care team to prevent costly hospital readmissions and ER visits. Reliq Health Technologies trades on the TSX Venture under the symbol RHT and on the OTCQB as RQHTF.
ON BEHALF OF THE BOARD,
Dr. Lisa Crossley, CEO and Director
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”.
We caution you that such “forward-looking statements” involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
Reliq Health Technologies Inc. (the “Company”) does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company’s historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements.
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