Reliq Health Technologies Announces Upsize of Previously Announced Private Placement Financing to $5.0 Million

Reliq Health Technologies > Blog Full Left Sidebar > Press Releases > Reliq Health Technologies Announces Upsize of Previously Announced Private Placement Financing to $5.0 Million

VANCOUVER, BC, October 17, 2017 – 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 due to high demand it has amended the terms of its previously announced private placement financing to increase the size of the offering from $4,000,000 to $5,000,000 (the “Upsized Offering”).

 

Under the terms of the Upsized Offering Canaccord Genuity Corp. and Gravitas Securities Inc. have been engaged to act as co-lead agents on a commercially reasonable efforts basis in respect to a brokered private placement offering of up to 12,500,000 units (the “Units”) at a price of $0.40 per Unit for gross proceeds of up to $5,000,000 (the “Offering”) subject to completion of satisfactory due diligence. Each Unit will consist of one (1) common share in the capital of the Company (a “Share”) and one-half (1/2) transferable common share purchase warrant (each whole warrant, a “Warrant”), with each Warrant exercisable into one additional Share at a price of $0.60 for a period of two years from the date of closing. The Company intends to use the net proceeds of the offering for general working capital, product development and customer acquisition.

 

ON BEHALF OF THE BOARD

“Dr. Lisa Crossley”

CEO and Director

 

For further information contact:

CORE Capital Partners at 604-566-9233 or investors@ccpartnersinc.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. 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.