Reliq Health Technologies, Inc. Announces Exercise of Warrants with Gross Proceeds of Over $2 Million
November 08 2019 - 8:00AM
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 Healthcare, is pleased to announce the
exercise of warrants for a net proceeds of $2,056,248.60 Million.
The Company announced the exercise of 3,589,093
warrants, with 84,615 of such warrants each being exercised for one
common share of the Company at an exercise price of $0.20, 316,806
warrants each being exercised for one common share of the Company
at an exercise price of $0.40 and 3,187,672 warrants each being
exercised for one common share of the Company at an exercise price
of $0.60. The net proceeds of the warrant exercises was
$2,056,248.60. Post-exercise of the warrants, total Reliq
shares outstanding are 135,759,817.
“We are very pleased to have received just
over $2 Million from the warrant exercises,” said Dr. Lisa
Crossley, CEO of Reliq Health Technologies, Inc. “Reliq has
acquired over 32 new clients in the last 4 months alone, and this
additional capital will allow us to further increase our rate of
customer acquisition and patient onboarding. We continue to
expect to achieve cashflow positive by the end of December, 2019
and profitability in Q1 Calendar 2020 (Q3 FY2020).”
The Company intends to use the proceeds from the
warrant exercises to accelerate onboarding and to continue
expanding its customer base in the US and beyond.
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. 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.
ON BEHALF OF THE BOARD“Dr. Lisa Crossley”CEO and
Director
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 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.
SOURCE: Reliq Health Technologies Inc.
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