VANCOUVER, British Columbia, Oct. 30, 2017 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT) (OTCQB:RQHTF) (“Reliq” or the “Company”), a technology company focused on developing innovative mobile health (mHealth) and telemedicine solutions for Community-Based Healthcare, wishes to clarify its news release on October 17, 2017. The Company intends to offer a private placement financing of up 10,000,000 units of the Company (the “Units”) at a price of $0.40 per Unit for gross proceeds of $4,000,000 (the “Offering”). The Offering is led by Canaccord Genuity Corp. and Gravitas Securities Inc. (collectively, the “Agents”).
Each Unit will consist of one (1) common share of the Company (a “Common Share”) and half of one (1/2) Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant”). Each Warrant will be exercisable to acquire one Common Share (a “Warrant Share”) for a period of two years following the closing date of the Offering at an exercise price of $0.60 per Warrant Share, subject to adjustment in certain events.
The Company has granted the Agents an over-allotment option (the “Over-Allotment Option”), which may be exercised in the Agents’ sole discretion and without obligation, exercisable in whole or in part and in one or more tranches at any time and from time to time prior to the closing of the Offering, to offer up to an additional 25% of the Units sold under the Offering, with the same terms and conditions as the Units. The Agents have elected to exercise the Over-Allotment Option in full to offer an additional 2,500,000 Units under the Offering. This will raise additional gross proceeds of $1,000,000, resulting in a total gross proceeds of up to $5,000,000 to be raised under the Offering.
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
Renmark Financial Communications Inc.
Laura Welsh: lwelsh@renmarkfinancial.com
Tel: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.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.