VIQ Solutions Announces Insider Led Private Placement

Rhea-AI Summary

VIQ Solutions (TSX:VQS) has announced a non-brokered private placement offering led by Board members Bradley Wells, Larry Taylor, and Joseph Quarin. The insiders will subscribe to 100% of the offering, which aims to raise approximately C$565,000.

The units are priced at C$0.214 per unit, with each unit comprising one common share and one warrant. The warrants have a 7-year exercise period at C$0.214 per share. The proceeds will support working capital and general corporate purposes, with closing expected around August 22, 2025, subject to TSX approval.

Positive

• None.

Negative

• Relatively small offering size of only C$565,000 may not significantly improve financial position
• Potential dilution to existing shareholders
• Offering price suggests challenging market conditions for raising capital

Mississauga, Ontario--(Newsfile Corp. - August 19, 2025) - VIQ Solutions Inc. (TSX: 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 an offering of units of the Company (the "Units") at an issue price of C$0.214. The Units will be offered on a non-brokered private placement basis, for aggregate proceeds of up to approximately $565,000 (the "Offering"). The Offering is being led by members of the Board of Directors, being Bradley Wells, Larry Taylor and Joseph Quarin, who are expected to subscribe for 100% of the total funds raised.

Each Unit consists of one common share of the Company (each, a "Common Share") and one common share purchase warrant (each, a "Warrant"). Each Warrant will entitle the holder thereof to acquire one Common Share at an exercise price of C$0.214 per Common Share until the seventh year anniversary from the date of issuance.

The Company intends to use the proceeds from the Offering for working capital and general corporate purposes. Closing of the Offering is expected to occur on or about August 22, 2025 (the "Closing Date") and is subject to the approval of the TSX.

All securities issued under the Offering, including securities issuable on exercise thereof, will be subject to a hold period in Canada of four months and one day following the Closing Date in accordance with applicable securities legislation.

As any directors and officers of the Company that participate in the Offering are insiders of the Company, their participation in the Offering is considered a "related party transaction" pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company will rely on Sections 5.5(a) and 5.7(1)(a) of MI 61-101 for exemptions from the requirements to obtain a formal valuation and minority shareholder approval, respectively, because the fair market value of their participation will be below 25% of the Company's market capitalization for the purposes of MI 61-101.

For more information about VIQ, please visit viqsolutions.com.

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 completion of the Offering, the size thereof and the use of proceeds therefrom; and 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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/263021

FAQ

What is the size and price of VIQ Solutions' (TSX:VQS) private placement offering?

VIQ Solutions is offering units at C$0.214 per unit to raise approximately C$565,000 through a non-brokered private placement.

Who are the participants in VIQ Solutions' private placement?

The offering is being led by Board members Bradley Wells, Larry Taylor, and Joseph Quarin, who are expected to subscribe for 100% of the total funds raised.

What are the terms of the warrants in VIQ Solutions' private placement?

Each warrant allows holders to purchase one common share at C$0.214 per share for a period of seven years from the issuance date.

When is the expected closing date for VIQ Solutions' private placement?

The offering is expected to close on or about August 22, 2025, subject to TSX approval.

How will VIQ Solutions use the proceeds from the private placement?

The company intends to use the proceeds for working capital and general corporate purposes.