StorageVault Canada Inc.

May 04, 2009 19:27 ET

StorageVault Announces Purchase

REGINA, SASKATCHEWAN--(Marketwire - May 4, 2009) - StorageVault Canada Inc. ("StorageVault") (TSX VENTURE:SVI) Further to disclosure requirements of applicable securities laws, StorageVault reports that on May 4, 2009 Alan Simpson, President, CEO and a director of StorageVault, purchased 999,143 common shares ("Shares") of StorageVault Canada Inc. ("StorageVault") at a price of $0.23 per Share for total consideration of $229,865 pursuant to a private share sale agreement (the "Transaction") and received 688,397 Shares in the form of a dividend payment (the "Dividend") from a third party corporation, with each Share issued pursuant to the Dividend having a deemed value of $0.23 per Share. Upon completion of the Transaction and the Dividend, Mr. Simpson will own or control 3,287,810 Shares or approximately 9.8% of the total issued and outstanding Shares of StorageVault and options to acquire 400,000 Shares ("Options") at a price of $0.20 per Share. Assuming exercise of such Options, Mr. Simpson would own or control 3,687,810 Shares or approximately 10.8% of the total issued and outstanding Shares of StorageVault. The Transaction was made for investment purposes. Mr. Simpson may increase or decrease his investment in StorageVault depending on market conditions or any other relevant factors.

StorageVault Canada Inc.

StorageVault currently owns and operates Trans Can Mini-Stor in Regina and Kenaston Self Storage in Winnipeg. Both facilities are fixed unit storage facilities operating in conjunction with high margin Canadian PUPS portable storage franchises at each location. The common shares of StorageVault are listed on the TSX Venture Exchange.

Forward-Looking Information: This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in StorageVault's disclosure documents on the SEDAR website at StorageVault does not undertake to update any forward-looking information except in accordance with applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • StorageVault Canada Inc.
    Mr. Alan Simpson
    (306) 536-3771
    StorageVault Canada Inc.
    3603 Selinger Crescent
    Regina, Saskatchewan S4V 2H7