October 17, 2017
Reliq Health Technologies Announces Upsize of Previously Announced Private Placement Financing to $5.0 Million
VANCOUVER, British Columbia, Oct. 17, 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, 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
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