Global (GMPC) Holdings Inc.

Global (GMPC) Holdings Inc.

August 31, 2005 09:30 ET

Global Holdings Announces an Amendment to its $1,280,000 Secured Convertible Debenture in VIQ Solutions Inc.

TORONTO, ONTARIO--(CCNMatthews - Aug. 31, 2005) - Global (GMPC) Holdings Inc. ("Global") (TSX VENTURE:GGH.SV.B) announces that it has amended its $1,280,000 secured convertible debenture in VIQ Solutions Inc. ("VIQ Solutions") (TSX Venture Exchange "VQS") for no additional consideration as follows:

- The maturity date of the secured convertible debenture was extended from January 14, 2006 to April 2, 2007;

- The expiry date of the warrants issued on conversion of the secured convertible debenture was extended from July 14, 2006 to September 30, 2007; and

- The conversion price for the secured convertible debenture was increased from $0.18 to $0.20 per Unit for all periods from and after January 14, 2007.

The secured convertible debenture bears an interest at a rate of 12% per annum payable monthly. Prior to January 14, 2007, the Debenture is convertible into 7,111,111 units at a conversion price of $0.18 per unit. Each Unit is comprised of one common share of VIQ Solutions and one half of one common share purchase warrant. Each whole warrant entitles Global to purchase one common share at a price of $0.30 until September 30, 2007. This secured convertible debenture financing was originally provided concurrent with a series of private placements for $2,455,000 at $0.18 per unit, by third party funds, which closed in late February, 2005.

"Global is pleased with VIQ Solutions' progress with regards to its increasing revenues, operating cost reductions, new distribution agreements and recent contract announcements." said Jason Ewart, Global's Chief Executive Officer. He added, "We believe that VIQ Solutions is positioning itself for long-term growth and profitability."

About VIQ Solutions Inc.

VIQ Solutions is recognized as a global provider in the digital audio industry with innovative product and service-based solutions for voice-driven systems in the legal, medical, business, and government industries. VIQ Solutions provides an integrated range of digital record workflow solutions, including digital audio and video capture, workflow management software, transcription services, interactive electronic scheduling, and case management integration, all from one central, secure database. Additional information about VIQ Solutions may be obtained at

About Global

Global is a merchant bank, which provides bridge loan services (asset back/collateralized financing), to companies across many industries such as oil & gas, mining, real estate, manufacturing, retail, financial services, technology and biotechnology.

"The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release."

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