VIQ Solutions Inc. ("VIQ Solutions" or the "Corporation") (TSX VENTURE:VQS)
announced today that Spark & Cannon Australasia Pty Limited ("Spark & Cannon"),
the Corporation's wholly-owned Australian subsidiary, has been awarded a
contract by the Australian Capital Territory for the provision of recording and
transcription services covering the Australian Capital Territory Civil and
Administrative Tribunal, the Australian Capital Territory Magistrates Courts and
the Australian Capital Territory Supreme Courts.


The contract has a term of three years with two options to extend for an
additional year each. The contract's estimated revenue to Spark & Cannon,
assuming the options are extended, is AUS $4.6 million over the five year term,
based on the historical workflow supplied by the Australian Capital Territory.


The contract provides for the installation and maintenance of VIQ Solutions
software and associated hardware, and the provision of recording and
transcription services covering 19 courtrooms and five hearing rooms across
three geographic locations.


"Spark & Cannon is pleased to provide the Australian Capital Territory with
recording and transcription services," said Gregory Farmer, General Manager of
Spark & Cannon. "The awarding of this contract demonstrates Spark & Cannon's
position as market leader in the provision of transcription solutions across
Australia. We are delighted the Australian Capital Territory has selected Spark
& Cannon and the most digitally-advanced recording solution available in the
marketplace."


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

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, the expected revenues of Spark & Cannon attributable to
the secure transcription services contract with the Australian Capital
Territory.


Forward looking statements or information are based on a number of factors and
assumptions which have been used to develop such statements and information but
which may prove to be incorrect. Although VIQ Solutions 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 Solutions 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 workflow provided by the Australian Capital Territory during the term of the
contract to Spark & Cannon will be consistent (and not less) with past workflows
and the contract with Australian Capital Territory will continue through its
initial term and be extended (without material amendment) for the two
consecutive renewal periods. Readers are cautioned that the foregoing list is
not exhaustive of all factors and assumptions which have been used.


Forward looking statements or information are based on current expectations,
estimates and projections that involve a number of risks and uncertainties which
could cause actual results to differ materially from those anticipated by VIQ
Solutions and described in the forward looking statements or information. These
risks and uncertainties which may cause actual results to differ materially from
the forward looking statements or information include, among other things: the
contract will be terminated prior to its initial term; the contract will not be
renewed as described herein, the workflows provided by the Australian Capital
Territory will be materially lower than previously experienced; and the revenues
attributable to Spark & Cannon will differ from those described herein. Readers
are cautioned that the foregoing list is not exhaustive of all possible risks
and uncertainties.


The forward looking statements or information contained in this news release are
made as of the date hereof and VIQ Solutions undertakes no obligation to update
publicly or revise any forward looking statements or information, whether as a
result of new information, future events or otherwise unless required by
applicable securities laws. The forward looking statements or information
contained in this news release are expressly qualified by this cautionary
statement.


This press release, in particular the information in respect of anticipated
revenues of Spark & Cannon, may contain Future Oriented Financial Information
("FOFI") within the meaning of applicable securities laws. The FOFI has been
prepared by management of the Corporation to provide an outlook of the
Corporation's activities and results. The FOFI has been prepared based on a
number of assumptions including the assumptions discussed under the heading
"Forward-Looking Statements". The actual results of operations of the
Corporation and the resulting financial results may vary from the amounts set
forth herein, and such variation may be material. The Corporation and its
management believe that the FOFI has been prepared on a reasonable basis,
reflecting the best estimates and judgments, and represent, to the best of
management's knowledge and opinion.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
VIQ Solutions Inc.
David Outhwaite
President & CEO
(905) 948-8266 ext. 250
douthwaite@viqsolutions.com


VIQ Solutions Inc.
Karen Hersh
Chief Financial Officer
(905) 948-8266 ext. 240
khersh@viqsolutions.com

VIQ Solutions (TSXV:VQS)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024 Plus de graphiques de la Bourse VIQ Solutions
VIQ Solutions (TSXV:VQS)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024 Plus de graphiques de la Bourse VIQ Solutions