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Reliq Health Technologies Inc. Successfully Closes $6 Million Unit Financing

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Reliq Health Technologies Inc. Successfully Closes $6 Million Unit Financing

Reliq Health Technologies Inc. has announced the successful closing of its Unit private placement, raising $6 million through the sale of 15 million Units. Each Unit was offered at a subscription price of $0.40 and consists of one common share and one common share purchase warrant. The net proceeds from this financing will be used for growth initiatives, general corporate and working capital requirements, and other corporate purposes.

Funding Breakdown and Participation

Under the terms of the financing, the state acted as an agent and received a cash commission of 8.0% of the gross proceeds. Additionally, options were granted to purchase Units equal to 8.0% of the number of Units issued. Reliq CEO, Lisa Crossley, also participated in the financing by acquiring 250,000 Units.

Legal Counsel and Approvals

Dentons Canada LLP served as counsel to Reliq Health Technologies Inc., while Cassels Brock & Blackwell LLP acted as counsel to the Agent. The financing is subject to final approval from the Exchange.
About Reliq Health Technologies Inc.
Reliq Health Technologies is a rapidly growing global healthcare technology company specializing in innovative Virtual Care solutions. Its iUGO Care platform supports care coordination and community-based virtual healthcare, enabling complex patients to receive high-quality care at home. The platform provides real-time access to remote patient monitoring data, allowing for timely interventions and reducing hospital readmissions and ER visits. In conclusion, the successful closing of the $6 million Unit financing provides Reliq Health Technologies with the necessary funds to support its growth initiatives and enhance its virtual care solutions.

Implications of Reliq Health Technologies' Successful Financing for New Businesses

The successful closure of a $6 million Unit financing by Reliq Health Technologies Inc. serves as a significant example for new businesses, particularly those in the healthcare technology sector.

Importance of Financing for Growth

Reliq's successful financing underscores the crucial role of funding in fueling business growth and innovation. New businesses can take this as a cue to explore various financing options to support their growth initiatives and meet their operational needs.

Role of Stakeholder Participation

The participation of Reliq's CEO, Lisa Crossley, in the financing emphasizes the importance of stakeholder involvement in fundraising activities. This can inspire confidence among other potential investors and can be a strategy new businesses might consider.
Impact on Product Enhancement
The funds raised will be used to enhance Reliq's innovative Virtual Care solutions, demonstrating how financing can directly impact product development and improvement. New businesses can leverage such opportunities to refine their offerings and meet customer needs more effectively. In conclusion, Reliq Health Technologies' successful financing provides valuable insights for new businesses, highlighting the importance of securing financing, stakeholder participation, and the direct impact of funding on product enhancement.
Story First Published at: https://financialpost.com/globe-newswire/reliq-health-technologies-inc-announces-closing-of-6000000-unit-financing
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