MARKHAM, ON, Jan. 10 /CNW/ - VIQ Solutions Inc. ("VIQ Solutions" or the
"Corporation") (TSX Venture: VQS) is pleased to announce that the entire
principal value of the $1,280,000 Convertible Debenture, issued on January 14,
2005 to Global (GMPC) Holdings Inc., has been converted into Units of the
Corporation, at the conversion price of $0.18 per Unit. VIQ Solutions issued
an aggregate of 7,111,111 common shares and 3,555,555 warrants on the
conversion, with each warrant being exercisable into one common share of the
Corporation at a price of $0.30 until September 30, 2007.
David Outhwaite, the President and Chief Executive Officer of VIQ
Solutions, stated, "The elimination of $1.28 million of secured debt gives the
Corporation significant financial strength and flexibility going forward. This
is a very positive milestone for VIQ Solutions."
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.
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