Global (GMPC) Holdings Inc.

Global (GMPC) Holdings Inc.

March 08, 2005 09:30 ET

Global Holdings Announces it has completed a $1,280,000 Secured Convertible Debenture in VIQ Solutions Inc.


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: GLOBAL (GMPC) HOLDINGS INC.

TSX VENTURE SYMBOL: GGH.SV.B

MARCH 8, 2005 - 09:30 ET

Global Holdings Announces it has completed a
$1,280,000 Secured Convertible Debenture in VIQ
Solutions Inc.

TORONTO, ONTARIO--(CCNMatthews - March 8, 2005) - Global (GMPC) Holdings
Inc. ("Global") (TSX VENTURE:GGH.SV.B) is pleased to announce that it
has completed a twelve month, $1,280,000 secured convertible debenture
in VIQ Solutions Inc. ("VIQ") (TSX Venture Exchange "VQS"). The
convertible debenture bears an interest at a rate of 12% per annum
compounded and payable monthly. 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 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 for a period of 18 months from the date
of closing. This financing was provided concurrent with a $2,454,740
private placement at $0.18 per Unit, by a third party fund, which closed
January 10, 2005.

About VIQ Solutions Inc.

VIQ Solutions offers a range of integrated end-to-end solutions, from
digital audio recording and annotation, to voice-to-text transcription,
to interactive electronic scheduling and management, all from one
central secure database. With innovative product and service-based
solutions for voice-driven systems in the legal, medical, business, and
government industries, VIQ Solutions is recognized as a global provider
in the digital audio industry. Today, VIQ Solutions has installed
digital recording and management platforms in over 1,000 courtrooms,
legislative assemblies and hearing rooms in the US, Canada, Australia,
South Africa, Denmark, New Zealand, and other locations around the
world, as well as servicing over 500 clients in the medical industry.
Additional information about VIQ may be obtained on the world wide web
at www.viqsolutions.com.

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.

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Global (GMPC) Holdings Inc.
    Jason G. Ewart
    (416) 488-7760
    (416) 483-1516 (FAX)
    www.globalbridgeloans.com
    " The TSX Venture Exchange does not accept responsibility for the
    adequacy or accuracy of this release."