VIQ Solutions arranges $2M placement with insiders

Executive Summary

• VIQ Solutions Inc. has arranged a non-brokered private placement of units at 18.6 cents per unit, targeting aggregate proceeds of up to approximately $2 million.
• The offering is led by insiders, who are expected to subscribe for approximately 10.2 million units, classifying it as a related party transaction.
• Proceeds will be used for working capital and general corporate purposes, with closing expected on or about October 27, 2025, subject to TSX Venture Exchange approval.

Key Details

• Transaction Structure: Non-brokered private placement of units.
• Issue Price: 18.6 cents per unit.
• Aggregate Proceeds: Up to approximately $2 million.
• Unit Composition: Each unit consists of one common share and one common share purchase warrant.
• Warrant Terms: Each warrant entitles the holder to acquire one common share at an exercise price of 18.6 cents per share. Warrants are exercisable until the fifth-year anniversary from the date of issuance.
• Insider Subscription: Insiders are expected to subscribe for approximately 10.2 million units.
• Use of Proceeds: Working capital and general corporate purposes.
• Closing Date: Expected on or about October 27, 2025.
• Regulatory Approval: Subject to approval of the TSX Venture Exchange.
• Hold Period: All securities issued, including those issuable on exercise of warrants, are subject to a statutory hold period of four months and one day following the closing date in Canada.
• Regulatory Exemptions: The company relies on Section 5.5(b) and the financial hardship exemption from minority shareholder approval requirements under Multilateral Instrument 61-101 (MI 61-101).
• Material Change Report: A material change report will be filed within 10 days of the release date, detailing the review and approval process adopted by the board of directors.

Notable Quotes

• None provided in the text.