Reliq Health Technologies, Inc. Provides Update on Status of Management Cease Trade Order
November 14 2023 - 8:30AM
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 providing this
update on the status of a management cease trade order granted on
October 31, 2023 (the "MCTO") by the British Columbia Securities
Commission under National Policy 12-203 – Management Cease Trade
Order ("NP 12-203"). On October 31, 2023, the Company announced
that, for reasons disclosed in the news release, there would be a
delay in the filing of its financial statements and accompanying
management’s discussion and analysis for the fiscal year ended June
30, 2023 (the "Annual Filings") beyond the period prescribed under
applicable Canadian securities laws (the "Default Announcement").
“We are working very hard to complete all of the
remaining audit tasks as soon as possible,” said Dr. Lisa Crossley,
CEO at Reliq Health Technologies, Inc. “We regret the inconvenience
to our shareholders and thank them for their patience. As
previously disclosed, we recently completed a private placement to
allow the Company to expand its US Operations team. The existing US
team has spent a significant amount of time working with our
customers, suppliers and partners to provide documentation required
for the audit and to coordinate virtual meetings between a number
of these groups and the auditors, which has created a bottleneck in
the audit process this year that we will ensure is addressed
through our new hires. The private placement process itself
consumed Management’s time and further contributed to the delay in
filing, but we are working to complete the remaining audit
activities as quickly as possible. The Company will provide regular
updates on its progress via news release and will notify
shareholders of the date and login details for the webinar to
discuss the annual audited financials as soon as the filing date is
finalized.”
During the MCTO, the general investing public
will continue to be able to trade in the Company's listed common
shares. However, the Company's chief executive officer and chief
financial officer will not be able to trade in the Company's
shares.
Other than as disclosed in this news release,
there are no material changes to the information contained in the
Default Announcement. The Company confirms that it intends to
satisfy the provisions of NP 12- 203 and will continue to issue
bi-weekly default status reports for so long as it remains in
default of the Annual Filings requirement.
Reliq HealthReliq 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
US Investor Relations ContactInvestor
RelationsLytham Partners, LLCBen ShamsianNew York |
Phoenix646-829-9701shamsian@lythampartners.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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