VIQ Solutions Inc.
TSX VENTURE : VQS

VIQ Solutions Inc.

November 12, 2009 08:00 ET

VIQ Solutions Refinances Bridge Loan

MARKHAM, ONTARIO--(Marketwire - Nov. 12, 2009) - VIQ Solutions Inc. ("VIQ Solutions" or the "Corporation") (TSX VENTURE:VQS) announced that it has refinanced its previously outstanding $500,000 secured bridge loan. The bridge loan, as refinanced, bears interest at a rate of 10%, payable annually, for a term of two years and includes the issuance to the lenders of 625,000 common share purchase warrants, which warrants have an exercise price of $0.40 for the first year and $0.50 for the second year.

The common share purchase warrants and the shares into which the warrants may be exercised are subject to a four month resale restriction that remains in effect until February 25, 2010.

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. Forward-looking statements in this press release include negotiation of the bridge loan facility, the success of which is based on a number of material factors and assumptions, including, credit market conditions and that contractual negotiations will be completely successful and progressed and/or completed in a timely manner. 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.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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