MARKHAM, ON, Jan. 10 /PRNewswire-FirstCall/ -- 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.
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