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Long time coming, but settlement of court case

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Sam Dan Member Level  Monday, 07/08/19 07:48:47 AM
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Long time coming, but settlement of court case finalizded. Lawyers probably biggest winners
(“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.

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