08:59 AM EST, 02/03/2025 (MT Newswires) -- VIQ Solutions ( VQSSF ) , a provider of AI-driven digital voice and video capture technology and transcription services, on Monday said it is reviewing strategic alternatives.

It noted that by integrating proprietary technology, vertical-specific AI, and "human-in-the-loop" expertise, VIQ has boosted operational efficiency, improved gross margins, and scaled its global technology platform. These strategic initiatives have already strengthened VIQ's financial performance.

VIQ Solutions' ( VQSSF ) current strategy focuses on the digital transformation of transcription services for key sectors, including courts and legal, insurance, law enforcement, government, and media.

In connection with the strategic review, VIQ Solutions ( VQSSF ) has entered into a fifth amendment agreement with Beedie Investments regarding the company's US$15 million senior secured loan and a US$1.5 million term loan with the lender, of which US$1 million has been drawn.

The two parties have agreed to amend certain financial covenants under the credit agreement until Feb. 28, in exchange for an amendment fee equal to US$250,000 payable at the maturity, along with certain accelerated repayment conditions and expense reimbursements.