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 the Company has executed a Settlement Agreement with all defendants in the actions the Company previously disclosed.
As stated in the Company’s February 26, 2019 news release, Reliq Health Technologies, Inc. had previously commenced actions against Stephen Samson, Boby Deveros, Claudio Damaso, George Rayner, Shelby Neal, Accuhealth Technologies LLC, Evelyn Technologies LLC, and Evelyn Technologies Canada Inc. in the Ontario Superior Court of Justice, the Superior Court of the State of Delaware and the US District Court, Southern District of Texas, Houston Division.
The Company is very pleased to announce that as of June 27, 2019, Reliq and all of the defendants have executed a final Settlement Agreement (the “Agreement”) to settle all claims and causes between them. The motion to dismiss the claims in the Delaware court was filed with that court on June 28, 2019 and the motions to dismiss the claims in the Ontario and Texas courts were filed with those courts on July 5, 2019. The terms of the Agreement include a financial settlement to be paid to the Company by certain of the defendants in two equal installments of $200,000, for a total of $400,000. The funds for the first installment, currently held in trust by Reliq’s counsel, will be released as soon as the dismissal orders have been issued by all three courts. The second installment is payable in April, 2020 and is secured against certain of the defendants’ personal property. In accordance with Continuous Disclosure Obligations, the Settlement Agreement will be filed by the Company on SEDAR today, with certain details redacted to respect privacy and confidentiality provisions stipulated in the Agreement.
ON BEHALF OF THE BOARD
“Dr. Lisa Crossley”
CEO and Director
ABOUT RELIQ HEALTH
Reliq Health Technologies is a healthcare technology company that specializes in developing innovative software solutions for the Community Care market. Reliq’s powerful iUGO Care platform supports care coordination and community-based healthcare. The iUGO Care platform integrates wearables, sensors, voice technology and intuitive mobile apps and desktop user interfaces for patients, clinicians and healthcare administrators. 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 and on the OTCQB as RQHTF.
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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.