Reliq Health Announces Exercise of Warrants with Gross Proceeds of Over $2 Million

Reliq Health recently announced the exercise of warrants for a net proceeds of $2,056,248.60 Million.

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 $0.20, 316,806 warrants each being exercised for one common share of the Company at an exercise price of $0.40 and 3,187,672 warrants each being exercised for one common share of the Company at an exercise price of $0.60.  The net proceeds of the warrant exercises was $2,056,248.60.  Post-exercise 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, CEO of Reliq Health Technologies, Inc.  “Reliq has acquired over 32 new clients in the last 4 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 cashflow positive by the end of December, 2019 and profitability in Q1 Calendar 2020 (Q3 FY2020).”

The Company intends to use the proceeds from the warrant exercises to accelerate onboarding and to continue expanding its customer base in the US and beyond.