Reliq Health Technologies, Inc. Announces Exercise of Warrants with Gross Proceeds of Over $2 Million
HAMILTON, Ontario, Nov. 08, 2019 (GLOBE NEWSWIRE) -- 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 Health
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. 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
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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.
