StorageVault Announces Maximum $1,750,000 Private Placement Financing

    0
    3

    STORAGEVAULT CANADA INC. (“StorageVault“) (TSX VENTURE:SVI) is pleased to announce that StorageVault intends to complete a non-brokered private placement of a combination of half warrant units (each, a “Half Warrant Unit“) and full warrant units (each, a “Full Warrant Unit“) at a price of $0.30 per either a Half Warrant Unit or a Full Warrant Unit for aggregate gross proceeds of a minimum of $1,000,000 (3,333,334 units) and a maximum of $1,750,000 (5,833,334 units) (collectively, the “Offering“). Each Half Warrant Unit will be comprised of one common share (“Common Share“) in the share capital of StorageVault and one-half (1/2) of one Common Share purchase warrant (a “$0.35 Warrant“) with each whole $0.35 Warrant being exercisable for four years from the closing of the Offering into one Common Share at an exercise price of $0.35 per share. Each Full Warrant Unit will be comprised of one common share (“Common Share“) in the share capital of StorageVault and one full Common Share purchase warrant (a “$0.37 Warrant“) with each whole $0.37 Warrant being exercisable for four years from the closing of the Offering into one Common Share at an exercise price of $0.37 per share. StorageVault will only be issuing a maximum of $750,000 of Full Warrant Units pursuant to the Offering (a maximum of 2,500,000 Full Warrant Units). Closing of the Offering is anticipated to occur on or around mid-January, 2014.

    Proceeds of the Offering will be used for the continued expansion of PUPS Portable Storage in 2014, including the launch of new locations in Edmonton AB, and London, ON.

    Anyone interested in participating in the Offering should contact StorageVault at: simpson@storagevaultcanada.com

    It is not anticipated that any new insiders will be created, nor that any change of control will occur, as a result of the Offering. Completion of the Offering is subject to regulatory approval, including approval of the TSX Venture Exchange.

    About StorageVault Canada Inc.

    StorageVault currently owns and operates Trans Can Mini-Stor in Regina, Kenaston Self Storage in Winnipeg, B&B Self Storage in Cambridge, Parksville Mini Storage in the Regional District of Nanaimo, Space Place Self Storage in Calgary, Airport Road Self Storage in London and Canadian PUPS in Saskatoon. Trans Can Mini-Stor, Kenaston Self Storage, B&B Mini Storage, Parksville Mini Storage and Space Place Self Storage are fixed unit storage facilities operating in conjunction with Canadian PUPS portable storage franchises at each location. StorageVault operates Canadian PUPS Potable Storage in Saskatoon as a stand-alone portable storage franchise. StorageVault also manages five self-storage facilities in southern Ontario and intends to continue to grow its business through the acquisition of additional self-storage properties, and organically as master franchisee through the development of Canadian PUPS portable storage facilities in Canada.

    (via MarketWired)

    ]]>

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here