Reliq Health Technologies, Inc. Announces Execution of Settlement Agreement
July 08 2019 - 7:00AM
Reliq Health Technologies Inc. (TSXV:RHT or
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 the Company has executed a Settlement Agreement with all
defendants in the actions the Company previously disclosed.
As stated in the Company’s February 26, 2019
news release, Reliq Health Technologies, Inc. had previously
commenced actions against Stephen Samson, Boby Deveros, Claudio
Damaso, George Rayner, Shelby Neal, Accuhealth Technologies LLC,
Evelyn Technologies LLC, and Evelyn Technologies Canada Inc. in the
Ontario Superior Court of Justice, the Superior Court of the State
of Delaware and the US District Court, Southern District of Texas,
Houston Division.
The Company is very pleased to announce that as
of June 27, 2019, Reliq and all of the defendants have executed a
final Settlement Agreement (the “Agreement”) to
settle all claims and causes between them. The motion to
dismiss the claims in the Delaware court was filed with that court
on June 28, 2019 and the motions to dismiss the claims in the
Ontario and Texas courts were filed with those courts on July 5,
2019. The terms of the Agreement include a financial
settlement to be paid to the Company by certain of the defendants
in two equal installments of $200,000, for a total of
$400,000. The funds for the first installment, currently held
in trust by Reliq’s counsel, will be released as soon as the
dismissal orders have been issued by all three courts. The
second installment is payable in April, 2020 and is secured against
certain of the defendants’ personal property. In accordance
with Continuous Disclosure Obligations, the Settlement Agreement
will be filed by the Company on SEDAR today, with certain details
redacted to respect privacy and confidentiality provisions
stipulated in the Agreement.
ON BEHALF OF THE BOARD“Dr. Lisa Crossley”CEO and Director
ABOUT RELIQ HEALTHReliq 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. iUGO Care 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.
For further information please contact:Investor
Relations at ir@reliqhealth.com
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 InformationCertain 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.
SOURCE: Reliq Health Technologies Inc.
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