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Mississauga, Ontario, February 27, 2024–(BUSINESS WIRE)–VIQ Solutions Co., Ltd. (“VIQ“,”VIQ solution” or “company“) (TSX:VQS) today announces that it has completed a non-brokered private placement of 10,239,000 shares of the Company’s common stock (collectively, “)common stock“) The price per common share was CAD 0.158, and the total proceeds were CAD 1,617,762.00 (“RecruitmentVIQ intends to use the net proceeds from this offering for working capital and general corporate purposes.
The common shares are subject to a statutory holding or restriction period in Canada of four months and one day from the date of closing. This offering is subject to final approval by the Toronto Stock Exchange.
In connection with this offering, Beedie Investments Ltd. (“beedi“) purchased 3,000,000 shares of common stock. Beedy is a related party (within the meaning of Multilateral Instrument 61-101 –) Protection of minority security holders in special transactions (“MI 61-101“)), and such issuance is considered a “related party transaction” for purposes of MI 61-101. Such related party transactions are also exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 because they are not at fair market value. the common stock issued to, or consideration paid by, a related party does not exceed 25% of our market capitalization; the purchasers of the common stock and the extent of their participation were not finalized until immediately prior to the completion of the offering; Accordingly, public disclosure of details of the nature and extent of related party participation in the transactions contemplated herein is prohibited pursuant to a material change report filed at least 21 days prior to the completion of such transactions. I could not do it.
About VIQ
VIQ Solutions is a global provider of secure, AI-powered digital audio and video capture technology and transcription services. VIQ delivers a seamless and comprehensive suite of solutions that deliver intelligent automation powered by human review to drive transformation in the way content is captured, secured, and repurposed into actionable information. Our cybersecurity, AI technology and services platform has been implemented in the most stringent security environments, including the criminal justice, legal, insurance, government, corporate finance, media, and transcription service provider markets, to improve the quality and accessibility of evidence. can be improved. Easily identify predictive insights to enable digital transformation faster and at lower cost.
For more information about VIQ, please visit viqsolutions.com.
Forward-looking statements
Certain statements contained in this news release constitute forward-looking statements or forward-looking information (“Forward-looking statementsSuch forward-looking statements are provided for the purpose of providing information regarding management’s current expectations and plans regarding the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes.
Forward-looking statements typically include words such as “expects,” “believes,” “expects,” “plans,” “intends,” “estimates,” “suggests,” and “plans.” , or statements containing similar words that suggest future results or statements. About the outlook. Forward-looking statements in this news release include, without limitation, statements regarding the intended use of proceeds from the offering. Forward-looking statements are based on a number of factors and assumptions used to create such statements and information, which may prove to be inaccurate. Although VIQ believes that the expectations reflected in such forward-looking statements are reasonable, VIQ cannot give any assurance that such expectations will prove to be correct and, therefore, You should not place undue reliance on forward-looking statements. In addition to other factors and assumptions that may be identified in this news release, assumptions have been made regarding, among other things, our business plans and objectives. The reader is cautioned that the foregoing list is not exhaustive of all factors and assumptions used.
Forward-looking statements are necessarily based on numerous opinions, assumptions and estimates that the Company believes to be reasonable as of the date of this news release, but are subject to known and unknown risks and uncertainties. , assumptions and other factors. Actual results, levels of activity, performance and achievements may be expressed or implied by such forward-looking statements, including, but not limited to, the factors described more fully in the “Risk Factors” section of our annual report. something that is very different from what you had before. Information for the year ended December 31, 2022 and in the Company’s other materials filed from time to time with Canadian securities regulators, available at www.sedar.com. These factors are not intended to represent a complete list of factors that may affect us. However, these factors must be carefully considered. There can be no assurance that such estimates or assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company does not warrant any forward-looking statements or the factors or assumptions underlying them. We expressly disclaim any obligation to update or modify it, whether or not. Information about new information, future events, etc., except as required by law.
No securities regulatory authority has approved or disapproved the contents of this press release. This press release is for informational purposes only and does not constitute an offer to sell or the solicitation of an offer to buy, and does not constitute an offer, solicitation, or sale in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful. There is no sale of securities. prior to registration or qualification under the securities laws of any such state or jurisdiction.
View source version on businesswire.com. https://www.businesswire.com/news/home/20240227995588/ja/
contact address
audrey liu
corporate controller
VIQ Solutions Co., Ltd.
Phone: (800) 263-9947
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