|
Markham, Ontario - April 14, 2008 - VIQ Solutions Inc. ("VIQ Solutions" or the "Corporation") (TSX Venture: VQS) is pleased to announce that it has closed its previously announced non-brokered private placement financing of 4,929,332 units (the "Units") of the Corporation at a price of $0.30 per Unit for aggregate gross proceeds of $1,478,800. Each Unit is comprised of one common share in the capital of the Corporation and one half of one common share purchase warrant, each whole warrant exercisable into one common share in the capital of the Corporation at a price of $0.45 per common share, subject to adjustment in certain events, at any time on or before 4:30 p.m. (Toronto time) on the 24 month anniversary of the date of issuance.
Proceeds of the private placement will be used to pay down existing debt and for general working capital purposes.
About VIQ Solutions Inc.
VIQ Solutions is recognized as a global provider in the digital audio industry with innovative product and service-based solutions for voice-driven systems in the legal, medical, business, and government industries. VIQ Solutions provides an integrated range of digital record workflow solutions, including digital audio and video capture, workflow management software, transcription services, interactive electronic scheduling, and case management integration, all from one central, secure database.
Forward-looking Statements
This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this press release, the words “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “will,” and “would” and similar expressions are intended to identify forward-looking statements. Such statements reflect VIQ Solutions Inc.’s current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made including those factors detailed from time to time in filings made by VIQ Solutions Inc. with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. VIQ Solutions Inc. does not intend and does not assume any obligation to update these forward-looking statements.
The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.
For further information: David Outhwaite, President & CEO, VIQ Solutions, (905) 948-8266 ext. 250, email: douthwaite@viqsolutions.com; or Karen Hersh, Chief Financial Officer, VIQ Solutions, (905) 948-8266 ext. 240, email: khersh@viqsolutions.com
|