Business
VIQ Solutions Converts $1.28 Million Debenture into Equity
VIQ Solutions Converts $1.28 Million Debenture into Equity.
About this update from Viq Solutions Inc.
[{"type":"text","content":"\n\n\n\n\nMARKHAM, ON, Jan. 10 /CNW/ - VIQ Solutions Inc. (\"VIQ Solutions\" or the\n\"Corporation\") (TSX Venture: VQS) is pleased to announce that the entire\nprincipal value of the $1,280,000 Convertible Debenture, issued on January 14,\n2005 to Global (GMPC) Holdings Inc., has been converted into Units of the\nCorporation, at the conversion price of $0.18 per Unit. VIQ Solutions issued\nan aggregate of 7,111,111 common shares and 3,555,555 warrants on the\nconversion, with each warrant being exercisable into one common share of the\nCorporation at a price of $0.30 until September 30, 2007.\nDavid Outhwaite, the President and Chief Executive Officer of VIQ\nSolutions, stated, \"The elimination of $1.28 million of secured debt gives the\nCorporation significant financial strength and flexibility going forward. This\nis a very positive milestone for VIQ Solutions.\"\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 pr...