CPE News (2.28.2024) – VIQ Solutions Inc. (TSX: VQS) on February 27, 20924 closed a non-brokered private placement of 10,239,000 common shares priced at CDN $0.158 for gross proceeds of CDN $1,617,762.00.
Beedie Investments Ltd. acquired beneficial ownership over 3,000,000 common shares for investment of $474,000.
Immediately prior to the closing of the private placement, Beedie beneficially owned 8,589,538 common share purchase warrants which was acquired as part of US $14.25 million term loan (out of US $15 million granted to VIQ). If the warrants were converted in full into common shares, Beedie, directly or indirectly, would beneficially own or control a total of 8,589,538 common shares, representing approximately 17.42% of the issued and outstanding common shares.
Following completion of the private placement and assuming the exercise in full of the Warrants, Beedie, directly or indirectly, would beneficially own or control a total of 11,589,538 common shares, representing approximately 19.39% of the issued and outstanding common shares following the completion of the private placement on a partially diluted basis.
On non-diluted basis, Beedie controls approximately 6% of VIQ’s outstanding (51,051,152) common shares.
Mississauga, Ontario and Phoenix, Arizona based VIQ Solutions is a global provider of secure, AI-driven, digital voice and video capture technology and transcription services. VIQ offers a seamless, comprehensive solution suite that delivers intelligent automation, enhanced with human review, to drive transformation in the way
content is captured, secured, and repurposed into actionable information
photo credit: VIQ Solutions
News Release
BEEDIE INVESTMENTS LTD. ACQUIRES COMMON SHARES IN VIQ SOLUTIONS INC.
Vancouver, British Columbia – February 27, 2024 – Beedie Investments Ltd. (“Beedie”) has acquired beneficial ownership over an aggregate of 3,000,000 common shares (the “Common Shares”) of VIQ Solutions Inc. (the “Company”) (the “Common Shares”) at a price of $0.158 per Common Share. The Common Shares were acquired by Beedie pursuant to a private placement offering of common shares of the Company announced on February 27, 2024 (the “Private Placement”).
Immediately prior to the Private Placement, Beedie beneficially owned 8,589,538 common share purchase warrants of the Company (“Warrants”). If the Warrants were converted in full into Common Shares, Beedie, directly or indirectly, would beneficially own or control a total of 8,589,538 Common Shares, representing approximately 17.42% of the issued and outstanding Common Shares immediately prior to the Private Placement on a partially diluted basis. Following completion of the Private Placement and assuming the exercise in full of the Warrants, Beedie, directly or indirectly, would beneficially own or control a total of 11,589,538 Common Shares, representing approximately 19.39% of the issued and outstanding Common Shares following the completion of the Private Placement on a partially diluted basis.
All of the securities held by Beedie in VIQ, including the Common Shares and the Warrants, are being held for investment purposes. Beedie may in the future take such actions in respect of its Company securityholdings as it deems appropriate in light of the market circumstances then existing, including the potential purchase of additional shares of the Company through open market purchases or privately negotiated transactions, a corporate transaction, such as a merger, reorganization or liquidation, involving the Company, or the sale of all or a portion of such holdings in the open market or in privately negotiated transactions to one or more purchasers, or Beedie may continue to hold its current positions.
A copy of the early warning report relating to the aforementioned Common Shares will be available under the Company’s profile on SEDAR+ at www.sedarplus.ca, and may also be obtained by contacting Beedie Investments Limited at 604-435-3321. Beedie’s head office is located at Suite 900 – 1111 West Georgia St., Vancouver, BC, V6E 4M3.