Reliq Health Technologies, Inc. Announces Increase to up to $6 Million to Previously Announced Private Placement
September 28 2023 - 4:08PM
Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or
WKN:A2AJTB) (“
Reliq” or the
“
Company”), a rapidly growing global healthcare
technology company that develops innovative Virtual Care solutions
for the multi-billion dollar Healthcare market, is pleased to
announce an increase to its previously announced $4 million
brokered private placement of Units initially announced on
September 27, 2023 (the “Offering”). The Offering has been
increased due to significant demand and is now targeted for gross
proceeds of up to $6 million (previously $4 million) through the
issuance of up to 15,000,000 Units of the Company at $0.40 per Unit
(the "Offering Price"). Each Unit will continue to consist of one
common share (a “Share”) and one transferable Share purchase
warrant (a “Warrant”). Each Warrant shall be exercisable into one
additional common share (“Warrant Share”) of the Company for a
period of 30 months from the Closing Date (as defined below) at an
exercise price of $0.52 (the “Warrant Share Price”). All references
to currency herein are to Canadian Dollars.
The Units will be offered by way of a “best
efforts” private placement pursuant to the “listed issuer
financing” exemption under Part 5A of National Instrument 45-106 –
Prospectus Exemptions (“NI 45-106”) (the “Listed Issuer Financing
Exemption”) and on a private placement basis pursuant to other
exemptions from the prospectus requirements, in all provinces of
Canada (except Québec), and has now been extended to certain
jurisdictions outside of Canada. The securities of the Company
issued pursuant to the Listed Issuer Financing Exemption will be
freely tradeable equity securities not subject to any hold period
under applicable Canadian securities laws. There is an offering
document (the "Offering Document") related to the Offering that can
be accessed under the Company's profile at www.sedarplus.ca and on
the Company's website at: https://www.reliqhealth.com/. Prospective
investors should read this Offering Document before making an
investment decision.
Pursuant to its engagement with PI Financial
Corp. (“PI”), upon closing of the Offering, the Company shall: (i)
pay to PI a cash commission equal to 8.0% of the aggregate gross
proceeds of the Offering payable in cash; (ii) issue to PI
non-transferrable warrants of the Company exercisable at any time
prior to the date that is 30 months from the Closing Date to
acquire that number of Units equal to 8.0% of the number of Units
issued under the Offering, at an exercise price equal to the
Warrant Share Price, subject to adjustment in certain events.
The net proceeds raised from the issuance of the
Units will be used to fund growth initiatives, for general
corporate and working capital requirements, or for other corporate
purposes, as described in the Offering Document.
The Offering is scheduled to close on or around
October 5, 2023, and is subject to certain conditions including,
but not limited to, receipt of all necessary approvals including
the approval of the TSX Venture Exchange.
The securities offered have not been
registered under the U.S. Securities Act of 1933, as amended, and
may not be offered or sold in the United States absent registration
or an applicable exemption from the registration requirements. This
release does not constitute an offer to sell or a solicitation of
an offer to buy of any securities in the United States. The
securities described herein have not been, and will not be,
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities laws,
and may not be offered or sold within the United States except in
compliance with the registration requirements of the U.S.
Securities Act and applicable state securities laws or pursuant to
available exemptions therefrom.
Reliq
Health
Reliq Health Technologies is a rapidly growing
global healthcare technology company that specializes in developing
innovative Virtual Care solutions for the multi-billion dollar
Healthcare market. Reliq’s powerful iUGO Care platform supports
care coordination and community-based virtual 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, on the
OTC as RQHTF and on the Frankfurt Stock Exchange under the WKN:
A2AJTB.
ON BEHALF OF THE BOARD“Dr. Lisa Crossley”CEO and Director
For further information please contact:
Company ContactInvestor 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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