TORONTO, Jan. 31, 2019 (GLOBE NEWSWIRE) -- VIQ Solutions Inc. (“VIQ” or the “Company”) (TSX Venture Exchange: VQS), a global expert providing cyber-secure AI technology and transcription services announced today the appointment of Gilles-André Morin as Chief Information Officer and Laura Serrano-Haggard as Chief Marketing Officer.
Morin and Serrano-Haggard join VIQ Solutions’ executive leadership team to accelerate the integration of recent accretive acquisitions, ramp sales and adoption of new cloud-based technology, designed to change the way legal, law enforcement, and insurance organizations capture, analyze, transcribe and communicate audio and visual information.
“Morin and Serrano-Haggard have a wealth of experience leading innovative teams though the healthcare documentation evolution using technology to enable voice capture and AI assisted transcription workflow to decrease the cost to document while increasing data collection, distribution and analytics. We are thrilled to have them on board to drive that same evolution for the markets we serve,” said Susan Sumner, VIQ Solutions’ Chief Operating Officer.
Morin is an established leader with more than 25 years’ experience leading technology related initiatives for both start up and global corporations. As the Chief Information Officer, Morin is responsible for all corporate information systems, network security, and business operations support. He will also oversee the expansion and integration of our newly acquired transcription services organization creating efficiency and scale utilizing innovative artificial intelligence to augment transcriptionist workflow, supporting speed and accuracy, while reducing overall cost to create documentation.
With more than 20 years of product and marketing experience, Serrano-Haggard will use her past involvement with emerging and established healthcare technology companies to create marketing strategies and initiatives to improve revenue, recognition and reach. She will lead all aspects of brand strategy, driving sales enablement and the company’s go-to-market strategy to elevate its overall market awareness.
"Their collective best-in-class experience greatly enhances our leadership team and aligns with our vision to combine the best technology with world class services to create an end to end workflow that improves the capture and creation of content that can be repurposed into meaningful data to drive additional value,” said Susan Sumner.
The company has also granted 800,000 stock options to employees of the Company. The options were granted in accordance with the Company’s stock option plan and have an exercise price of $0.155 per share, with a five-year term, vesting one third on the grant date, one third on the first anniversary of the grant date and one third on the second anniversary of the grant date.
VIQ also announces that is has entered into an agreement to settle certain outstanding fees currently owed to an arm’s length service provider. Pursuant to such agreement, VIQ will issue 13,192,000 units (each a “Unit”) in satisfaction of US$1,000,000 ($1,319,200 based on the Bank of Canada Exchange Rate on January 30, 2019) of fees currently owed to such service provider. Each Unit is comprised of one common share (each a “Share”) and one common share purchase warrant (each a “Warrant”). The Warrants will be exercisable for a period of two years from the date of issuance at an exercise price of $0.13 per Share. The Company determined to satisfy the fees with securities in order to preserve its cash for its existing operations. The Units will be issued upon acceptance by the TSX Venture Exchange. The Shares and Warrants issued in satisfaction of the fees will be subject to a four month hold period from the date of issuance.
For further information: Please contact Malcolm Macallum, Chief Innovation Officer, VIQ Solutions, (905) 948-8266, email: mmacallum@viqsolutions.com
For more information about VIQ, please visit viqsolutions.com.
About VIQ Solutions Inc.
VIQ Solutions is a global expert in video capture software and audio recording with voice-to-text capabilities. VIQ provides a cyber-secure AI technology and service platform to law enforcement, immigration, medical, legal, insurance, courts, and transcription service providers, enabling them to unlock the value of their enterprise digital media and streamline their document-creation workflow, using artificial intelligence tools for measurable business gains.
Forward-looking Statements
Certain statements included in this news release constitute forward-looking statements or forward-looking information under applicable securities legislation. Such forward-looking statements or information are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that reliance on such information may not be appropriate for other purposes. Forward-looking statements or information typically contain statements with words such as "anticipate", "believe", "expect", "plan", "intend", "estimate", "propose", "project" or similar words suggesting future outcomes or statements regarding an outlook. Forward-looking statements or information in this news release include, but are not limited to, management’s targets for the Company’s growth in 2019, as well as the approval of the TSX Venture Exchange for the issuance of the Shares and Warrants.
Forward-looking statements or information is based on several factors and assumptions which have been used to develop such statements and information, but which may prove to be incorrect. Although VIQ believes that the expectations reflected in such forward-looking statements or information are reasonable, undue reliance should not be placed on forward-looking statements because VIQ can give no assurance that such expectations will prove to be correct. In addition to other factors and assumptions which may be identified in this news release, assumptions have been made regarding, among other things, the TSX Venture Exchange’s approval of the issuance of the Shares and Warrants. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions that have been used.
Forward-looking statements or information are based on current expectations, estimates and projections that involve several risks and uncertainties which could cause actual results to differ materially from those anticipated by VIQ and described in the forward-looking statements or information. These risks and uncertainties may cause actual results to differ materially from the forward-looking statements or information. Readers are cautioned that the foregoing list is not exhaustive of all possible risks and uncertainties.
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.