Reliq Health Technologies, Inc. Provides Update on Status of Management Cease Trade Order

HAMILTON, Ontario, Dec. 26, 2023 (GLOBE NEWSWIRE) -- Reliq Health Technologies Inc. (TSXV:RHT or OTC:RQHTF or WKN:A2AJTB) (“Reliq” or the “Company”), a rapidly growing global healthcare technology company that develops innovative Virtual Care solutions for the multi-billion dollar Healthcare market, is providing this update on the status of a management cease trade order granted on October 31, 2023 (the "MCTO") by the British Columbia Securities Commission under National Policy 12-203 – Management Cease Trade Order ("NP 12-203"). On October 31, 2023, the Company announced that, for reasons disclosed in the news release, there would be a delay in the filing of its financial statements and accompanying management’s discussion and analysis for the fiscal year ended June 30, 2023 (the "Annual Filings") beyond the period prescribed under applicable Canadian securities laws (the "Default Announcement"). Subsequently, there has been a delay in the filing of the Company’s interim financial statements for the period ended September 30, 2023 (the “Interim Filings”) that were due for filing on November 29, 2023.

As indicated in its news releases dated December 11, 2023 and December 15, 2023, the Company has recently gone through changes to its management team during its audit. Given these recent changes of management, coupled with the limited availability of staff during the holidays, the Company applied for, and received, an extension of its MCTO by the British Columbia Securities Commission. The Company is now required to complete its Annual Filings by January 12, 2024, with the Interim Filings being due for filing within 5 business days after the Annual Filings have been filed.

“We would like to thank our shareholders for their continued patience as we work with our auditors towards the finish line,” said Chris Shields, Interim CEO of the Company. “The Company will continue to provide updates on the progress of its audit through regular news releases.”

During the MCTO, the general investing public will continue to be able to trade in the Company's listed common shares. However, the Company's chief executive officer and chief financial officer will not be able to trade in the Company's shares.

Other than as disclosed in this news release, there are no material changes to the information contained in the Default Announcement. The Company confirms that it intends to satisfy the provisions of NP 12- 203 and will continue to issue bi-weekly default status reports for so long as it remains in default of the Annual Filings and Interim Filings requirement. The Company expects to file its Annual Filings on or before January 12, 2024, and expects to file its Interim Filings within 5 business days after the Annual Filings are completed. Further updates on timing will be provided by the Company as necessary.