VIQ announced that it is accelerating the vesting of over 1.1 million warrants exercisable to acquire common shares of the company.
VIQ Solutions (TSXV:VQS,OTCQX:VQSLF) announced that it is accelerating the vesting of over 1.1 million warrants exercisable to acquire common shares of the company originally issued pursuant to private placements closing on November 28, 2018, December 20, 2018 and May 7, 2019.
As quoted in the press release.
Pursuant to the terms of the Warrants (the “Warrant Certificates“), the Company has the right to accelerate the expiry date of the Warrants in the event that the closing price of the Common Shares on the TSX Venture Exchange is equal to or greater than $2.68 for any ten (10) consecutive trading days (an “Acceleration Event“).
This press release constitutes notice that an Acceleration Event has occurred and that the Company has elected to accelerate the expiry date of the Warrants. Unless a Warrant Certificate provides otherwise, the Warrants will expire at 4:30 pm (Toronto time) on the 30th day after the date hereof, being April 3, 2020 (the “Accelerated Expiry Date“).