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HAMILTON, Ontario, Sept. 28, 2023 — 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 pleased to announce an increase to its previously announced $4 million brokered private placement of Units initially announced on September 27, 2023 (the “Offering”). The Offering has been increased due to significant demand and is now targeted for gross proceeds of up to $6 million (previously $4 million) through the issuance of up to 15,000,000 Units of the Company at $0.40 per Unit (the “Offering Price”). Each Unit will continue to consist of one common share (a “Share”) and one transferable Share purchase warrant (a “Warrant”). Each Warrant shall be exercisable into one additional common share (“Warrant Share”) of the Company for a period of 30 months from the Closing Date (as defined below) at an exercise price of $0.52 (the “Warrant Share Price”). All references to currency herein are to Canadian Dollars.

The Units will be offered by way of a “best efforts” private placement pursuant to the “listed issuer financing” exemption under Part 5A of National Instrument 45-106 – Prospectus Exemptions (“NI 45-106”) (the “Listed Issuer Financing Exemption”) and on a private placement basis pursuant to other exemptions from the prospectus requirements, in all provinces of Canada (except Québec), and has now been extended to certain jurisdictions outside of Canada. The securities of the Company issued pursuant to the Listed Issuer Financing Exemption will be freely tradeable equity securities not subject to any hold period under applicable Canadian securities laws. There is an offering document (the “Offering Document”) related to the Offering that can be accessed under the Company’s profile at www.sedarplus.ca and on the Company’s website at: https://www.reliqhealth.com/. Prospective investors should read this Offering Document before making an investment decision.

Pursuant to its engagement with PI Financial Corp. (“PI”), upon closing of the Offering, the Company shall: (i) pay to PI a cash commission equal to 8.0% of the aggregate gross proceeds of the Offering payable in cash; (ii) issue to PI non-transferrable warrants of the Company exercisable at any time prior to the date that is 30 months from the Closing Date to acquire that number of Units equal to 8.0% of the number of Units issued under the Offering, at an exercise price equal to the Warrant Share Price, subject to adjustment in certain events.

The net proceeds raised from the issuance of the Units will be used to fund growth initiatives, for general corporate and working capital requirements, or for other corporate purposes, as described in the Offering Document.

The Offering is scheduled to close on or around October 5, 2023, and is subject to certain conditions including, but not limited to, receipt of all necessary approvals including the approval of the TSX Venture Exchange.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This release does not constitute an offer to sell or a solicitation of an offer to buy of any securities in the United States. The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to available exemptions therefrom.

Reliq Health

Reliq Health Technologies is a rapidly growing global healthcare technology company that specializes in developing innovative Virtual Care solutions for the multi-billion dollar Healthcare market. Reliq’s powerful iUGO Care platform supports care coordination and community-based virtual healthcare. iUGO Care allows complex patients to receive high quality care at home, improving health outcomes, enhancing quality of life for patients and families and reducing the cost of care delivery. iUGO Care provides real-time access to remote patient monitoring data, allowing for timely interventions by the care team to prevent costly hospital readmissions and ER visits. Reliq Health Technologies trades on the TSX Venture under the symbol RHT, on the OTC as RQHTF and on the Frankfurt Stock Exchange under the WKN: A2AJTB.

ON BEHALF OF THE BOARD
“Dr. Lisa Crossley”
CEO and Director

For further information please contact:

Company Contact
Investor Relations at ir@reliqhealth.com

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Statements Regarding Forward Looking Information

Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are “forward-looking statements”.

We caution you that such “forward-looking statements” involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.

Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including technology development, anticipated revenues, projected size of market, and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.

Reliq Health Technologies Inc. (the “Company“) does not intend and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, technology development and marketing activities, the Company’s historical experience with technology development, uninsured risks. Actual results may differ materially from those expressed or implied by such forward-looking statements.

SOURCE: Reliq Health Technologies Inc.