VIQ Solutions Announces Closing of Upsized Private Placement

Core Insights - VIQ Solutions Inc. has successfully closed the second tranche of its upsized non-brokered private placement, raising approximately C$585,000 [1] - The total proceeds from the offering, including the first tranche, exceed C$3 million, which will be allocated for technology innovations and supporting organic growth [2][3] Group 1: Offering Details - The second tranche involved the issuance of 3,146,063 Units at a price of C$0.186 per Unit, with each Unit comprising one common share and one warrant [1] - Each warrant allows the holder to acquire one common share at an exercise price of C$0.190 until November 5, 2030 [1] Group 2: Management Commentary - The Interim CEO expressed satisfaction with the interest from both existing and new shareholders, highlighting the funds will enhance margins and delivery speed [2] - The Board Chair noted the oversubscribed private placement as a testament to investor confidence in VIQ's growth trajectory [3] Group 3: Company Overview - VIQ Solutions is a global provider of secure, AI-driven digital voice and video capture technology and transcription services [4] - The company's technology is utilized in various sectors, including criminal justice, legal, insurance, government, and corporate finance, aimed at improving evidence quality and achieving digital transformation [4]