HAMILTON, Ont., April 18, 2022 (GLOBE NEWSWIRE) — Reliq Health Technologies Inc. (TSXV: RHT or OTC: RQHTF or WKN: A2AJTB) (“reliq“or the”Company”), a rapidly growing global health technology company that develops innovative virtual care solutions for the multi-billion dollar healthcare market, is aware of a report published on April 14, 2022 by a vendor at discovered known. This report contains defamatory, misleading and patently false statements and conspiracy theories, which the Company believes were intended to negatively impact its stock price for the financial benefit of short sellers.
The short position in the company increased significantly in the weeks leading up to the distribution of the bogus report, with more than 5 million shares currently short. While the Company recognizes the role of short selling in creating balance in public markets, it strongly condemns the unscrupulous practice of “short and misrepresented” campaigns in which short sellers intentionally post false statements. and misleading to unnecessarily alarm investors and manipulate the market for their interests. own profit.
“Reliq is one of countless public companies that have been targeted by short-selling companies employing deceptive practices to generate profits for short sellers at the expense of shareholders and the detriment of the integrity of public markets,” said Dr. Lisa Crossley, CEO. of Reliq Health Technologies, Inc. “We encourage investors to do their own due diligence on their investments and to question the intent and reliability of reports that include disclaimers that the authors are likely to realize significant gains by short selling the stock in question, who statements made in the report represent their opinions and not facts, or who make no representations as to the accuracy of the information presented.As set forth in our SEDAR filings, during past four quarters, Reliq has seen quarterly revenue growth of over 494% and gross margins increase from 43% to over 74%.When Reliq first entered the market in 2017/2018, it did not only had one product, customers in one US state, and could only access one CMS billing code. software and services to support more than 10 CMS programs operating 23 different billing codes and has customers in the United States, Puerto Rico and the US Virgin Islands. Despite multiple COVID surges that have heavily impacted the healthcare space over the past two years, Reliq has managed to grow its business and expects to have over 200,000 patients on its platform by mid- 2023. This projection is based solely on existing contracts with current customers who are already actively onboarding patients or who have recently confirmed their implementation plans for the next 12-18 months. Driven by significant increases by Medicare and Medicaid in reimbursements for virtual care programs and program reach, the company continues to anticipate rapid growth through 2022 and beyond.
The Company has been informed that the short-selling firm responsible for the report in question is currently one of more than two dozen firms that are under investigation by the U.S. Department of Justice (DOJ) launched in December 2021 on known short sellers and their practices. (https://www.bnnbloomberg.ca/vast-doj-probe-looks-at-almost-30-short-selling-firms-and-allies-1.1718553). The DOJ’s criminal investigation is being led by its fraud division with federal prosecutors in Los Angeles. The Company, through its attorneys, intends to submit evidence of the multiple false and misleading allegations in the report to the DOJ as part of this ongoing investigation.
Reliq Health Technologies is a rapidly growing global health technology company specializing in the development of 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 enables complex patients to receive high-quality care at home, improving health outcomes, improving the quality of life for patients and families, and reducing the cost of delivering care. iUGO Care provides real-time access to remote patient monitoring data, enabling rapid care team interventions to avoid costly hospital readmissions and emergency room visits. Reliq Health Technologies trades on the TSX Venture Exchange under the symbol RHT, on the OTC as RQHTF and on the WKN as A2AJTB.
ON BEHALF OF COUNCIL
“Dr. Lisa Crossley”
CEO and Director
For more information, please contact:
Investor Relations at [email protected]
US Investor Relations Contact
Lytham Partners, LLC
New York | Phoenix
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SOURCE: Reliq Health Technologies Inc.