VIQ Solutions Announces Closing of Upsized Private Placement

Rhea-AI Summary

VIQ Solutions (OTC:VQSSF) closed the second tranche of an upsized non-brokered private placement on November 5, 2025, raising approximately C$585,000.

The Company issued 3,146,063 Units at C$0.186 per Unit; each Unit includes one common share and one warrant. Each warrant is exercisable for one common share at C$0.190 until November 5, 2030. The first tranche closed on October 27, 2025 for approximately C$2.0 million, bringing total proceeds from the upsized placement to in excess of C$3.0 million.

Management said the proceeds will be used for technology innovations to improve margins and delivery speed, support organic growth and tuck-in acquisitions, and to fund a restructuring implementation announced as in progress.

Positive

• Raised approximately C$585,000 in second tranche
• Total gross proceeds now in excess of C$3.0M
• Proceeds earmarked for technology innovation, organic growth and tuck-in acquisitions

Negative

• Issued 3,146,063 Units creates immediate share dilution
• Outstanding warrants exercisable at C$0.190 until Nov 5, 2030 pose future dilution if exercised

Mississauga, Ontario--(Newsfile Corp. - November 5, 2025) - VIQ Solutions Inc. (TSXV: VQS) ("VIQ", "VIQ Solutions" or the "Company"), a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, is pleased to announce it has closed the second tranche of its upsized non-brokered private placement of units of the Company ("Units") for additional gross proceeds of approximately C$585,000 (the "Offering"). As part of the second tranche of the Offering, the Company issued an additional 3,146,063 Units at a price per Unit of C$0.186. Each Unit consisted of one common share of the Company (each, a "Common Share") and one Common Share purchase warrant (each, a "Warrant"). Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of C$0.190 per Common Share until November 5, 2030.

The Offering was first announced on October 22, 2025, and the first tranche closed on October 27, 2025 for gross proceeds of approximately C$2 million. "We were thrilled to receive inbound interest from existing and new shareholders to participate in the insider led private placements closed and press released on August 26 and October 27 respectively. Total proceeds in excess of C$3M will be used for technology innovations to improve margins and speed of delivery to customers as well as to support organic growth and tuck-in acquisitions. We will announce more details on these matters in addition to our restructuring implementation in future press releases. We have made significant progress," said Larry Taylor, Interim CEO.

"We are encouraged by the enthusiasm and trust investors have shown in VIQ's growth trajectory," said Brad Wells, Board Chair. "This oversubscribed private placement reinforces our commitment to innovation and positions us to deliver superior service and value to our customers and shareholders."

For more information about VIQ, please visit viqsolutions.com. The Company's head office is located at 5915 Airport Road, Suite 700, Mississauga, Ontario L4V 1T1.

About VIQ Solutions

VIQ Solutions is a global provider of secure, AI-driven, digital voice and video capture technology and transcription services. VIQ offers a seamless, comprehensive solution suite that delivers intelligent automation, enhanced with human review, to drive transformation in the way content is captured, secured, and repurposed into actionable information. The cyber-secure, AI technology and services platform are implemented in the most rigid security environments including criminal justice, legal, insurance, government, corporate finance, media, and transcription service provider markets, enabling them to improve the quality and accessibility of evidence, to easily identify predictive insights and to achieve digital transformation faster and at a lower cost.

Forward-Looking Statements

Certain statements included in this press release constitute forward-looking statements or forward-looking information (collectively, "forward-looking statements") under applicable securities legislation. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes.

Forward-looking statements (typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words, including negatives thereof, suggesting future outcomes or that certain events or conditions "may" or "will" occur). These statements are only predictions. Forward-looking statements in this press release include but are not limited to statements with respect to the Company's current and future growth prospects.

Forward-looking statements are based on several factors and assumptions which have been used to develop such statements, but which may prove to be incorrect. Although VIQ believes that the expectations reflected in such forward-looking statements are reasonable, undue reliance should not be placed on forward-looking statements because VIQ can give no assurance that such expectations will prove to be correct.

Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that while considered reasonable by the Company as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking statements, including but not limited to the factors described in greater detail in the "Risk Factors" section of the Company's annual information form and in the Company's other materials filed on SEDAR+ at www.sedarplus.ca.

These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. Such estimates and assumptions may prove to be incorrect or overstated. The forward-looking statements contained in this press release are made as of the date of this press release and the Company expressly disclaims any obligations to update or alter such statements, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

Contact:

Jacob Manning VIQ Solutions
Email: marketing@viqsolutions.com
Phone: (800) 263-9947

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273202

FAQ

How much did VIQ Solutions (VQSSF) raise in the November 5, 2025 tranche?

VIQ closed the second tranche for approximately C$585,000 on November 5, 2025.

How many Units did VIQ Solutions issue on November 5, 2025 and at what price?

The company issued 3,146,063 Units at C$0.186 per Unit.

What are the terms of the warrants included in VIQ's Units (VQSSF)?

Each Unit included one warrant exercisable for one common share at C$0.190 until November 5, 2030.

What is VIQ Solutions using the proceeds from the upsized private placement for?

Proceeds will be used for technology innovations to improve margins and delivery speed, plus support organic growth and tuck-in acquisitions.

What were the total proceeds from VIQ's upsized private placement after the second tranche?

After the November 5, 2025 tranche, total gross proceeds from the offering are reported as in excess of C$3.0 million.