VIQ Solutions Signs USD$1.2M Contract with Australia’s Queensland Courts to Create Courtroom of Future and Expand Global Leadership
PHOENIX, ARIZONA, January 21, 2020 – VIQ Solutions Inc. (“VIQ” or the “Company”) (TSX Venture Exchange: VQS and OTC Markets: VQSLF) a global provider of secure, AI-driven, digital voice and video capture technology and transcription services, today announced the award of a USD$1.2M technology contract with the Queensland Department of Justice and Attorney-General (DJAG) to provide digital capture and management of official court records.
Upon completion of an extensive review of the current services for recording and transcription of court and tribunal proceedings, DJAG decided to explore innovative ideas and new developments in technology for Queensland’s recording and transcription system. The need to create a new service delivery model to ensure the quality and timeliness of court transcripts in Queensland while providing the best overall value for money was identified.
VIQ Solutions Announces Proposed Amendments to Convertible Notes
PHOENIX, Ariz.–(BUSINESS WIRE)–VIQ Solutions Inc. (the “VIQ” or “Company”) (TSX Venture Exchange: VQS and OTC Markets: VQSLF) announces that it intends to amend (the “Amendment”) the unsecured convertible notes (each, a “Note”) in the aggregate principal amount of approximately USD$6,792,934 issued to certain subscribers as previously announced in its News Releases of November 9, 2018, December 24, 2018 and May 8, 2019. The Debentures mature five (5) years from the date of issuance (the “Maturity Date”) and bear interest (the “Interest”) at a rate of 10% per annum. The Notes are also convertible into Shares at a conversion price (the “Conversion Price”) of CAD$2.70, CAD$2.72 and CAD$2.82 per Share (adjusted to reflect the Company’s recent 1 for 20 share consolidation), respectively, at any time until the Maturity Date.
OTC Markets Group Welcomes VIQ Solutions Inc. to OTCQX
NEW YORK – December 5, 2019 – OTC Markets Group Inc. (OTCQX: OTCM), operator of financial markets for 10,000 U.S. and global securities, today announced VIQ Solutions Inc. (TSX-V: VQS; OTCQX: VQSLF), a global technology platform for ultra-secure digital evidence capture and content management, has qualified to trade on the OTCQX® Best Market. VIQ Solutions Inc. upgraded to OTCQX from the OTCQB® Venture Market.
Following the reverse split, and for 20 trading days, VIQ Solutions Inc. will trade under the symbol on OTCQX under the symbol “VQSLD”. Beginning January 2, 2020, VIQ Solutions will begin trading under the symbol “VQSLF.” U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
“Congratulations to VIQ Solutions on graduating to the OTCQX Best Market from the OTCQB Venture Market,” said Jason Paltrowitz, EVP of Corporate Services at OTC Markets Group. “The company’s graduation to the OTCQX Best Market marks an important milestone, as OTCQX provides companies with a transparent, cost-effective public market to enhance visibility. We look forward to continuing to support VIQ Solutions and the company’s shareholders.”
VIQ to present live at VirtualInvestorConferences.com on December 5th at 12:00 noon ET
Sebastien Paré, President & CEO will present live at the VirtualInvestorConferences.com on December 5th at 12:00 noon ET. Investors and analysts are invited to ask the company questions in real-time at this live, interactive online event.
Shareholders Approve VIQ Solutions Inc. 1-for-20 Reverse Split
VIQ Solutions Inc. (“VIQ” or the “Company”) (TSX Venture Exchange: VQS and OTC Markets: VQSLF) a global provider of secure, AI-driven, digital voice and video capture technology and services for law enforcement, legal, insurance, courts, and transcription service provider markets, today announced the Company’s share consolidation was approved by 99.953% of the Shareholders who voted.
The share consolidation, followed by a two-trading day period, enables uplisting of VIQ’s DTC eligible foreign depository for Common Shares in the United States from the OTCQB to the QTCQX, the Best Market on OTC Markets.
“We deeply appreciate our shareholders’ confidence in the Board’s capital management decision as evidenced by the overwhelming majority of shareholders voting to approve the proposed share consolidation, said Sebastien Pare, VIQ President and Chief Executive Officer.
VIQ Solutions Reports Q3 Earnings
In the current ultra-secure digital evidence capture and transcription markets, VIQ delivered strong revenue, margins, EBITDA, and income for the last quarter. We are pleased with the early returns from the deployment of our new AI-powered transcription workflow platform, the increase in sales pipeline from our new sales and marketing organization, and the collaboration with our clients and partners on advancements in technology innovation, all which set the foundation for long-term profitable growth for the company. For the third consecutive quarter, VIQ has posted consistent, steady growth, with all financial indicators trending upward.
VIQ Solutions to Report 3Q 2019 Earnings Results November 6th With Call on November 7th, 2019
VIQ will release its financial results for the quarter ended September 30, 2019 after U.S. markets close on Wednesday, November 6, 2019. VIQ Solutions will also host an earnings conference call at 4:00 PM ET on the following day, November 7th.
Investors may listen to the call via telephone by dialing 1-844-678-4797 (U.S. toll-free) or 1-270-855-8581 (international) to be connected to the call by an operator using conference ID number 8596297. Participants should dial in at least 10 minutes prior to the start of the call.
VIQ Announces Proposed Share Consolidation
With company fundamentals improving every quarter, VIQ’s equity profile and shareholder base has evolved considerably, particularly after the first half of this fiscal year. Today, the company’s clients, revenue, operations, human expertise and technology infrastructure are predominantly in the United States, which has helped drive growth in the percentage of shareholders being based in the U.S. and abroad. As the company continues to execute on its core growth strategy of driving operational excellence and financial performance, new investors are entering the stock. The proposed stock consolidation is an important step toward contributing to the overall strategy to drive long term shareholder value as the structure of the company evolves and the company’s equity profile, and shareholder make-up, continues to improve.
VIQ’s Announces Market Leading End-to-End Cloud-Based Workflow Solution for Insurance Industry
Using proprietary technologies, like NetScribe, powered by aiAssist, VIQ streamlines documentation processing, decreases labor costs and turnaround times, while boosting accuracy and margins for VIQ‘s global client base.
The NetScribe platform enables VIQ’s insurance clients – who command over 20 percent of the market share in the industry – to implement a revolutionary end-to-end workflow transition to a highly secured cloud computing infrastructure. VIQ is agnostic to outside technologies, enabling clients to utilize whichever audio, visual and cloud technologies that best meet their business and/or operational needs. With over 6000 insurance agencies in the U.S. alone, the transcription market for the industry is estimated to be approximately USD$2 billion. This includes 26 million recordable audio events, resulting in over 646 million transcribed pages per year.