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MARKHAM, ONTARIO--(Marketwired - July 23, 2013) - VIQ Solutions Inc. ("VIQ Solutions" or the "Corporation") (TSX VENTURE:VQS) announces that it has entered into a secured loan agreement (the "Bridge Loan") with an arm's length lender (the "Lender") whereby the Corporation will borrow $200,000 from the Lender for a period of one (1) year (the "Term"). The Bridge Loan bears interest at a rate of 10% per annum, payable annually, and includes the issuance to the Lender of 200,000 non-transferrable common share purchase warrants (the "Warrants"), which Warrants have an exercise price of $0.18 per common share of the Corporation. The Warrants are exercisable at any time prior to 5:00 p.m. (Toronto time) on July 23, 2014. Proceeds of the Bridge Loan will be used for general working capital purposes. |
