/THIS NEWS RELEASE IS NOT INTENDED FOR
DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES./
PHOENIX, Nov. 26, 2020 /CNW/ - VIQ Solutions Inc.
("VIQ" or the "Company") (TSXV: VQS) (OTC
Markets: VQSLF), a global provider of secure, AI-driven, digital
voice and video capture technology and transcription services,
announced today that it has closed its previously announced upsized
short form prospectus offering, on a bought deal basis (the
"Offering"), of 4,705,900 common shares (the "Common
Shares") at a price of C$4.25
(approximately US$3.24) per Common
Share for total gross proceeds of C$20,000,075 (approximately US$15.27 million).
The Offering was led by Paradigm Capital Inc. on behalf of a
syndicate of underwriters including Acumen Capital Finance Partners
Limited.
The Company intends to use the proceeds of the Offering to fund
the continued development of its product and service offerings, to
fund potential future acquisitions and for general corporate
purposes.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy nor shall there be any sale of the
securities in any jurisdiction in which such offer, solicitation or
sale would be unlawful prior to registration or qualification under
the securities laws of any such jurisdiction. This press release
does not constitute an offer of securities for sale in the United States. The securities being
offered have not been, nor will they be, registered under the
United States Securities Act of 1933, as amended, and such
securities may not be offered or sold within the United States absent registration under
United States federal and state
securities laws or an applicable exemption from such United States registration requirements.
For more information about VIQ, please
visit viqsolutions.com.
About VIQ Solutions Inc.
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,
media, 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 news release constitute
forward-looking statements or forward-looking information 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 or information typically contain
statements with words such as "anticipate", "believe", "expect",
"plan", "intend", "estimate", "propose", "project" or similar words
suggesting future outcomes or statements regarding an outlook.
Forward-looking statements or information in this news release
include, but are not limited to VIQ's intended use of the net
proceeds of the Offering. Forward-looking statements or information
is based on several factors and assumptions which have been used to
develop such statements and information, but which may prove to be
incorrect. Although VIQ believes that the expectations reflected in
such forward-looking statements or information are reasonable,
undue reliance should not be placed on such forward-looking
statements, as VIQ can give no assurance that such expectations
will prove to be correct. In addition to other factors and
assumptions which may be identified in this news release,
assumptions have been made regarding, among other things, VIQ's
ability to identify and acquire suitable acquisition targets, the
accuracy of VIQ's expectations with respect to industry and market
trends and global economic conditions including the continuing
effects of COVID-19. Readers are cautioned that the foregoing
list is not exhaustive of all factors and assumptions that have
been used. Forward-looking statements or information are based on
current expectations, estimates and projections that involve
several risks and uncertainties which could cause actual results to
differ materially from those anticipated by VIQ and described in
the forward-looking statements or information, including the risks
and uncertainties described under the heading "Risk Factors" in
VIQ's Annual Information Form for the year ended December 31, 2019, filed with the Canadian
securities regulatory authorities under VIQ's SEDAR profile at
www.sedar.com. These risks and uncertainties may cause actual
results to differ materially from the forward-looking statements or
information. Readers are cautioned that the foregoing list is not
exhaustive of all possible risks and uncertainties. The
forward-looking statements contained in this news release are made
as of the date of this news release and, except as required by
applicable law, VIQ undertakes no obligation to publicly update or
revise any forward-looking statement, whether as a result of new
information, future events or otherwise.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the Exchange)
accepts responsibility for the adequacy or accuracy of this
release.
SOURCE VIQ Solutions Inc.
