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     125  0 Kommentare Reliq Health Technologies, Inc. Closes First Tranche of Private Placement

    THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

    HAMILTON, Ontario, Nov. 13, 2020 (GLOBE NEWSWIRE) -- 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 it has closed the first tranche of its private placement announced October 27, 2020. The Company issued 10,637,056 units (the “Units”) at a price of $0.225 per unit for gross proceeds of $2,393,337.60 for the first tranche.

    Due to exceptional demand, the Company intends to close a second tranche, with final closing taking place on or before December 7, 2020. Pursuant to a price reservation form 4A filed with the TSX-V Venture Exchange on October 22, 2020, the Company may offer up to an additional 2,696,277 Units in a second tranche.

    Each Unit will consist of one (1) common share and one-half (1/2) of a share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will be exercisable for an additional share at a price of $0.30 for a period of two (2) years from issuance. In the event that the common shares of the Company trade at a closing price of greater than $0.50 per Share for ten (10) consecutive trading days, the Company may accelerate the expiry date of the Warrants to expire on the 30th day after the date on which such notice is given to the warrantholders.

    The Company is paying finder’s fees of $44,431.88 cash and 188,775 broker warrants in connection with the first tranche. The broker warrants are issued with the same terms as the Warrants described above.

    The Company’s CEO participated in the first tranche of the Offering and will acquire an aggregate of 444,500 Units. The participation by insiders in the Offering 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.

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    Reliq Health Technologies, Inc. Closes First Tranche of Private Placement THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT INTENDED FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. HAMILTON, Ontario, Nov. 13, 2020 (GLOBE NEWSWIRE) - Reliq Health …