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HealthWarehouse.com Settles Litigation with Its Former Law Firm

HealthWarehouse.com,Inc.
Posted on: 12 Dec 17

HealthWarehouse.com, Inc. (OTC Pink:HEWA), a Verified Internet Pharmacy Practice Site (VIPPS) accredited online pharmacy licensed and/or authorized to sell in all 50 states serving consumers who pay out of pocket for their prescriptions, announced today that the final payment was made to dismiss the previously disclosed lawsuit filed by Taft, Stettinius & Hollister, its former law firm.

The payment of the settlement in the amount of $950,000 was funded through the combination of cash balances, proceeds from a discounted warrant offering and a $400,000 bridge loan provided by Melrose Capital Advisors, LLC.

“By resolving this final legacy cost and litigation, we can move the Company forward and focus our efforts on supporting our rapid revenue growth and providing unmatched service to our new and existing customers,” said Joseph Peters, interim President & CEO of HealthWarehouse.com. “The settlement is a significant achievement relative to our corporate goal to reduce liabilities and strengthen our balance sheet.”

About HealthWarehouse.com
HealthWarehouse.com, Inc. (OTC: HEWA) is an online pharmacy based in Florence, Kentucky, licensed and/or authorized to sell and deliver prescriptions in all 50 United States of America and the District of Columbia focusing on the out-of-pocket prescription drug market, a market that is expected to continue to grow. The Company sells directly to individual consumers who purchase prescription medications and OTC products over the Internet. HealthWarehouse.com is currently one of 55 Verified Internet Pharmacy Practice Websites (“VIPPS”) accredited by the National Association of Boards of Pharmacy (“NABP”). Visit HealthWarehouse.com online at http://www.HealthWarehouse.com.

Forward-Looking Statements
This announcement may contain “forward looking statements” as defined in federal securities laws including but not limited to Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the Private Securities Litigation Reform Act of 1995, which statements are based on our current expectations, estimates, forecasts and projections. Statements that are not historical facts, including statements about the beliefs, expectations and future plans and strategies of the Company, are forward-looking statements. Actual results may differ materially from those expressed in forward looking statements or in management's expectations. Important factors which could cause or contribute to actual results being materially and adversely different from those described or implied by forward looking statements include, among others, risks related to competition, management of growth, access to sufficient capital to fund our business and our growth, new products, services and technologies, potential fluctuations in operating results, international expansion, outcomes of legal proceedings and claims, fulfillment center optimization, seasonality, commercial agreements, acquisitions and strategic transactions, foreign exchange rates, system interruption, cyber-attacks, access to sufficient inventory, government regulation and taxation, payments and fraud.

View source version on businesswire.com: http://www.businesswire.com/news/home/20171212006325/en/

Business Wire
www.businesswire.com

Last updated on: 12/12/2017

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