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Reliq Health Technologies to raise C$7.5M through private placement

Reliq Health Technologies Inc. is set to raise gross of up to C$7.5 million through a brokered private placement of units.

The company will offer 6,696,428 units at C$1.12 apiece, with each unit consisting of a common stock and half a transferable common share purchase warrant at C$1.75 per warrant for a period of two years from the closing date.

Reliq Health granted the agents an overallotment option to buy up to an additional 2,232,142 units for additional gross proceeds of C$2.5 million.

The company intends to use the net proceeds of the offering for general working capital, product development and customer acquisition.

Canaccord Genuity Corp. and Gravitas Securities Inc. will act as co-lead agents for the placement.