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TORONTO, July 19, 2021 (GLOBE NEWSWIRE) – STORAGEVAULT CANADA INC. (“StorageVault“) (SVI-TSX-VU) are pleased to announce that they have completed the delivery of the previously announced insecure premium hybrid contracts (“Debts”) With a group of underwriters led by Scotia Capital Inc. and CIBC World Markets Inc. co-leader (“General Bookrunners”) and includes National Bank Financial Inc., TD Securities Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Canaccord Genuity Corp., Cormark Securities Inc. and Stifel Nicolaus Canada Inc. (together with Joint Bookrunners, “Guardian) On the basis of the purchased transaction. The total principal amount of $50 million of Debts has been issued at a rate of $1,000 per Debt (“Hello!“). StorageVault has granted the Guarantor an option to purchase an additional principal amount totaling $7.5 million of the Debts, on the same terms and conditions, enforceable in whole or in part, in period of 30 days after the end of the Offer.
Debts bear an interest rate of 5.50% per annum, payable semi-annually on March 31 and September 30 of each year, commencing September 30, 2021 and maturing September 30 2026. Debts are expected to begin trading on the TSX Venture Exchange under the symbol “SVI.DB.B” on July 19, 2021.
The net proceeds from the Offering will be used to finance potential future acquisition opportunities and for general corporate purposes.
Loans have been provided under a short prospectus dated 12 July 2021 (“Prospectus”) filed in each province of Canada, which describes the terms of the Product. A copy of the short prospectus is available on StorageVault’s SEDAR filing at www.sedar.com.
Securities offered under the Service shall not be registered under the United States Securities Act of 1933, as amended, (“Act of 1933”) and may not be offered, sold, or delivered, directly or indirectly, in the United States, or for the account or benefit of “people of the United States” (as defined in Regulation S under the 1933 Act. ), except as exempt from the registration requirements of the 1933 Act. This release of news does not constitute an offer to sell or an offer to buy any securities in the United States or for the account or interests of the Americans.
About StorageVault Canada Inc.
StorageVault owns and operates 223 storage locations in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec and Nova Scotia. StorageVault owns 183 of these locations plus more than 4,400 removable storage units representing more than 10.2 million square feet of rentable land on more than 600 acres. StorageVault also offers professional records management services, such as document and media, image, and shredding services.
For more information, contact Mr. Steven Scott or Mr. Iqbal Khan:
Neither TSX Ventures nor its Regulated Service Providers (as that term is defined in TSX Ventures’ policies) are responsible for the completeness or accuracy of the content. this release.
Information towards the future: This newsletter contains “forward-looking information” within the meaning of applicable Canadian securities laws. All statements, except statements of historical fact, included herein are forward-looking information. In particular, this newsletter contains forward-looking information regarding the use of net proceeds from the Services and the date of listing of Debts on the TSX Venture Exchange. There is no guarantee that such forward-looking information will be proven to be accurate and actual results and future events may differ materially from those anticipated. in such future information. This forward-looking information reflects StorageVault’s current beliefs, estimates, forecasts, and projections and is based on information currently available for StorageVault and on assumptions that StorageVault believes to be reasonable. These assumptions include, but are not limited to, assumptions relating to: all conditions for listing Debts are satisfied or waived; StorageVault’s current and future business strategy; the environment in which StorageVault will operate in the future; StorageVault’s projected revenue, expansion plans, and ability to achieve goals; anticipated adjustments, if any, to StorageVault’s operations as a result of the COVID-19 pandemic; and StorageVault’s continued response and ability to navigate the COVID-19 pandemic match or better its ability and response to date. Forward-looking information is subject to known and unknown risks, uncertainties, and other factors that could cause StorageVault’s actual results, operations, performance, or achievements to differ significantly. tell what is expressed or implied by that forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and stock market prices; delay or failure to receive board or regulatory approval; actual results of StorageVault’s future operations; competition; changes in legislation, including environmental laws, affecting StorageVault; timing and availability of external financing on acceptable terms; economic assessment and assessment conclusions; shortage of qualified and skilled labor or loss of key individuals; and risks associated with the COVID-19 pandemic including various recommendations, orders and measures by government agencies to try to limit the pandemic, including travel restrictions, border closures , non-essential business closures, service disruptions, quarantines, self-isolation, shelter-in-place and social distancing, market disruptions, economic activity, finance, supply chains and sales channels, and a deterioration of general economic conditions, including a possible national or global recession; The possible impact of the COVID-19 pandemic on StorageVault may include: short-term delays in payments from customers, increased receivables, and increased losses to receivables; reduce demand for the services that StorageVault provides; and financial market downturns may limit StorageVault’s ability to obtain outside financing. A description of additional risk factors that may cause actual results to differ from forward-looking information can be found in the StorageVault disclosure documents on the SEDAR website at www.sedar.com. While StorageVault has attempted to identify significant factors that may cause actual results to differ significantly from those contained in forward-looking information, there may be other factors that may cause results to be inconsistent. be as predicted, estimated or intended. Readers are advised that the list of factors above is not exhaustive. Readers are further advised not to place undue reliance on forward-looking information as it is not possible to guarantee that the plans, intentions or expectations for which they are set will occur. The forward-looking information contained in this newsletter is expressly eligible under this warning statement. The forward-looking information contained in this newsletter represents StorageVault’s expectations as of the date of this news release and is therefore subject to change after that date. However, StorageVault expressly disclaims any intention or obligation to update or modify any forward-looking information, whether as a result of new information, future events or otherwise, except when expressly required by applicable securities laws.
https://financialpost.com/globe-newswire/storagevault-announces-successful-closing-of-50-million-bought-deal-offering-of-5-50-senior-unsecured-hybrid-debentures | StorageVault Announces Successfully Closing $50 Million Purchased Transaction Offers 5.50% Premium Unsecured Hybrid Debts