Dr. Lisa Crossley reports
RELIQ HEALTH TECHNOLOGIES, INC. ANNOUNCES EXERCISE OF WARRANTS WITH GROSS PROCEEDS OF OVER $2 MILLION
Reliq Health Technologies Inc. warrantholders have exercised warrants for a net proceeds of $2,056,248.60.
The company announced the exercise of 3,589,093 warrants, with 84,615 of such warrants each being exercised for one common share of the company at an exercise price of 20 cents, 316,806 warrants each being exercised for one common share of the company at an exercise price of 40 cents and 3,187,672 warrants each being exercised for one common share of the company at an exercise price of 60 cents. The net proceeds of the warrant exercises were $2,056,248.60. Postexercise of the warrants, total Reliq shares outstanding are 135,759,817.
"We are very pleased to have received just over $2-million from the warrant exercises," said Dr. Lisa Crossley, chief executive officer of Reliq Health Technologies. "Reliq has acquired over 32 new clients in the last four months alone, and this additional capital will allow us to further increase our rate of customer acquisition and patient onboarding. We continue to expect to achieve cash flow positive by the end of December, 2019, and profitability in Q1 calendar 2020 (Q3 fiscal year 2020)."
The company intends to use the proceeds from the warrant exercises to accelerate onboarding and to continue expanding its customer base in the United States and beyond.
About Reliq Health
Reliq Health Technologies is a health care technology company that specializes in developing innovative software solutions for the community care market.
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