VANCOUVER, BRITISH COLUMBIA--(Marketwired - Apr 21, 2017) - Reliq Health Technologies Inc. (TSX VENTURE:RHT)(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 further to the Company's news releases dated March 29, 2017 and April 20, 2017 the Company has received TSX Venture Exchange (the "Exchange") final approval and closed the convertible debenture financing (the "Financing") for gross proceeds of $762,304.97.
All or any portion of the principal amount under the Loans are convertible by the Lenders into units (the "Units") of the Company at any time before the maturity date at a conversion price per Unit of $0.13. Each Unit consists of one (1) common share in the capital of the Company (a "Common Share") and one-half (1/2) share purchase warrant (a "Warrant"). Each full Warrant entitles the holder to purchase one additional Common Share in the capital of the Company (a "Warrant Share") at a price of $0.20 per Warrant Share for a period of thirty-six (36) months from the date of conversion.
The funds received will be used by the Company for ongoing corporate and general working capital purposes.
Subscribers of the Financing have agreed to a voluntary hold period of 6 months.
In accordance with the policies of the TSX Venture Exchange, the Company paid a Finders' Fee of an aggregate of $15,280.00 and 350,000 finders warrants. Each Finder's Warrant entitles the Finder to acquire one common share at a price of $0.20 for a period of 12 months, expiring on April 21, 2018.
As a subscriber to the Financing, Aman Thindal, a Director and Officer of the Issuer may acquire directly or indirectly 769,230 Units upon conversion of the convertible debenture. The participation by an insider in the Financing is considered to be a "related party transaction" as defined under Multilateral Instrument 61-101 ("MI 61-101"). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101, as neither the fair market value of the securities being issued nor the consideration being paid exceeds 25% of the Company's market capitalization.
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. The iUGO Care platform integrates wearables, sensors, voice technology and intuitive mobile apps and desktop user interfaces for patients, clinicians and healthcare administrators. 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. Our platform 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
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.