VIQ Solutions Announces Closing of Upsized Private Placement

Executive Summary

• VIQ Solutions closed the second tranche of its upsized non‑brokered private placement, issuing 3,146,063 units at C$0.186 per unit for gross proceeds of approximately C$585,000.
• The total proceeds from both tranches now exceed C$3 million and will be used to fund technology innovations, support organic growth, and pursue tuck‑in acquisitions.
• The placement was oversubscribed, reflecting strong investor confidence in VIQ’s growth trajectory.

Key Details

• Units Issued: 3,146,063 units (each unit = 1 common share + 1 warrant).
• Price per Unit: C$0.186.
• Gross Proceeds (Second Tranche): Approximately C$585,000.
• Warrant Terms: Each warrant allows the purchase of one common share at an exercise price of C$0.190, exercisable until November 5, 2030.
• First Tranche: Closed on October 27, 2025 for gross proceeds of approximately C$2 million (announced Oct 22, 2025).
• Total Proceeds to Date: In excess of C$3 million.
• Use of Proceeds: Technology innovation to improve margins and delivery speed; support organic growth; fund tuck‑in acquisitions; further restructuring implementation details to be disclosed in future releases.
• Management Comments:
• Larry Taylor, Interim CEO – highlighted inbound interest, total proceeds, and intended use for innovation and growth.
• Brad Wells, Board Chair – noted investor enthusiasm and the placement’s role in reinforcing commitment to innovation.

Notable Quotes

“We were thrilled to receive inbound interest from existing and new shareholders… 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.” – Larry Taylor, Interim CEO

“We are encouraged by the enthusiasm and trust investors have shown in VIQ's growth trajectory… This oversubscribed private placement reinforces our commitment to innovation…” – Brad Wells, Board Chair