VIQ Solutions Announces Insider Led Private Placement

Executive Summary

• VIQ Solutions Inc. announced a non‑brokered private placement of up to ~2 M CAD in units at C$0.186 per unit.
• Each unit consists of one common share and one warrant to purchase an additional share at C$0.186, exercisable for five years.
• Proceeds are earmarked for working capital and general corporate purposes; closing expected around October 27, 2025, subject to TSXV approval.

Key Details

• Offering Size: Up to approximately C$2,000,000 in aggregate proceeds.
• Unit Price: C$0.186 per unit.
• Unit Composition: 1 common share + 1 common share purchase warrant.
• Warrant Terms: Exercise price C$0.186 per share; exercisable until the fifth anniversary of issuance.
• Closing Date: Expected on or about October 27, 2025, pending TSXV approval.
• Hold Period: All securities subject to a four‑month‑plus‑one‑day hold period in Canada after closing.
• Insider Participation: Insiders expected to subscribe for ~10.2 million units, qualifying the transaction as a “related party transaction” under MI 61‑101.
• Exemptions Relied Upon: Section 5.5(b) and the financial hardship exemption from minority shareholder approval requirements (MI 61‑101).
• Use of Proceeds: Working capital and general corporate purposes.
• Regulatory Filings: Material Change Report to be filed within 10 days of the press release, ahead of the 21‑day filing deadline before closing.

Notable Quotes

(No direct quotes were provided in the release.)