PALM BEACH, Florida, November 2, 2017 /PRNewswire/ -- Telemedicine is increasingly gaining popularity over traditional healthcare owing to the rising use of telecommunication to deliver various healthcare services to patients. The telemedicine market in the United States is forecast to exceed $13 billion by 2021, according to research and consulting firm Pharmaion. An aging population, the rising incidence of chronic diseases and spiraling health care costs are making telemedicine one of the fastest growing sectors in health care. Various reforms in the healthcare industry such as Patient Protection and Affordable Care Act (PPACA) and growing technological advancements are driving the demand for telemedicine services and technologies in the United States. Active companies in the healthcare industry include: Reliq Health Technologies Inc. (OTC: RQHTF) (TSX-V: RHT), Sangamo Therapeutics, Inc. (NASDAQ: SGMO), Editas Medicine, Inc. (NASDAQ: EDIT), Kindred Healthcare, Inc. (NYSE: KND), Achillion Pharmaceuticals, Inc. (NASDAQ: ACHN).

Reliq Health Technologies Inc. (OTCQB: RQHTF) (TSX-V: RHT.V), a technology company focused on developing innovative mobile health (mHealth) and telemedicine solutions for Community-Based Healthcare, is pleased to announce further to its news releases dated October 11 and 30, 2017, it successfully closed an oversubscribed private placement (the "Offering") led by Canaccord Genuity Corp and Gravitas Securities Inc. (together, the "Co-Lead Agents") and Beacon Securities Limited ("Beacon" and together with the Co-Lead Agents, the "Agents") of 12,500,000 Units (the "Units") of the Company at a price of $0.40 per Unit (the "Unit Price") for gross proceeds of $5,000,000.

Each Unit consists of one (1) common share of the Company (a "Common Share") and half of one (1/2) Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each of the 6,250,000 Warrants is exercisable to acquire one Common Share (a "Warrant Share") for a period of two years following the closing date of the Offering at an exercise price of $0.60 per Warrant Share, subject to adjustment in certain events. Read this full release and recent news releases for Reliq Health Technologies at http://marketnewsupdates.com/news/rqhtf.html
"We are very pleased to have completed a successful oversubscribed financing and to have three of Canada's leading independent rokerage firms support the Company," said Dr. Lisa Crossley, CEO of Reliq.

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

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