VIQ Solutions Inc.
TSX VENTURE : VQS

VIQ Solutions Inc.

March 19, 2008 08:30 ET

VIQ Solutions Announces Private Placement

MARKHAM, ONTARIO--(Marketwire - March 19, 2008) - VIQ Solutions Inc. ("VIQ Solutions" or the "Corporation") (TSX VENTURE:VQS) is pleased to announce that subject to regulatory approval, it intends to proceed with a non-brokered private placement financing of up to 5,333,333 units (the "Units") of the Corporation at a price of $0.30 per Unit for aggregate gross proceeds of up to $1,600,000. Each Unit will be comprised of one common share in the capital of the Corporation and one half of one common share purchase warrant, each whole warrant exercisable into one common share in the capital of the Corporation at a price of $0.45 per common share, subject to adjustment in certain events, at any time on or before 4:30 p.m. (Toronto time) on the 24 month anniversary of the closing of the offering, subject to adjustment in certain events.

Proceeds of the private placement will be used to pay down existing debt and for general working capital purposes.

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.

Forward-looking Statements

This press release contains forward-looking statements that involve risks and uncertainties, which may cause actual results to differ materially from the statements made. When used in this press release, the words "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "will," and "would" and similar expressions are intended to identify forward-looking statements. Such statements reflect VIQ Solutions Inc.'s current views with respect to future events and are subject to such risks and uncertainties. Many factors could cause our actual results to differ materially from the statements made including those factors detailed from time to time in filings made by VIQ Solutions Inc. with Canadian securities regulatory authorities. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. VIQ Solutions Inc. does not intend and does not assume any obligation to update these forward-looking statements.

The securities offered have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The TSX Venture Exchange has neither approved nor disapproved of the contents of this press release.

Contact Information