Business
VIQ Solutions Announces Bridge Loan
VIQ Solutions Announces Bridge Loan.
About this update from Viq Solutions Inc.
[{"type":"text","content":"\n\n\n\n\nMARKHAM, ON, Aug. 31 /CNW/ - VIQ Solutions Inc. (\"VIQ Solutions\" or the\n\"Corporation\") (TSX Venture: VQS) announces that it has obtained a two-year\n$270,000 secured bridge loan. The bridge loan bears interest at a rate of 12%,\npayable annually and includes the issuance to the lenders of 1,350,000 common\nshare purchase warrants, which warrants have an exercise price of $0.16 for\nthe first year and $0.24 for the second year. Proceeds of the loan will be\nused for general working capital purposes.\nThe common share purchase warrants and the shares into which the warrants\nmay be exercised are subject to a four month resale restriction that remains\nin effect until December 29, 2006.\n\nAbout VIQ Solutions Inc.\n\nVIQ Solutions is recognized as a global provider in the digital audio\nindustry with innovative product and service-based solutions for voice-driven\nsystems in the legal, medical, business, and government industries. VIQ\nSolutions provides an integrated range of digital record workflow solutions,\nincluding digital audio and video capture, workflow management software,\ntranscription services, interactive electronic scheduling, and case management\nintegration, all from one central, secure database.\n\nForward-looking Statements\n\nThis press release contains forward-looking statements that involve risks\nand uncertainties, which may cause actual results to differ materially from\nthe statements made. When used in this press release, the words \"anticipate,\"\n\"believe,\" \"could,\" \"estimate,\" \"expect,\" \"intend,\" \"may,\" \"plan,\" \"will,\" and\n\"would\" and similar expressions are intended to identify forward-looking\nstatements. Such statements reflect VIQ Solutions Inc.'s current views with\nrespect to future events and are subject to such risks and uncertainties. Many\nfactors could cause our actual results to differ materially from the\nstatements made including those factors detailed from time to time in filings\nmade by VIQ Solutions Inc. with Canadian securities regulatory authorities.\nShould one or more of these risks or uncertainties materialize, or should\nassumptions underlying the forward-looking statements prove incorrect, actual\nresults may vary materially from those described herein as intended, planned,\nanticipated or expected. VIQ Solutions Inc. does not intend and does n...