VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 24, 2012) -
THIS NEWS RELEASE IS NOT FOR DISSEMINATION TO U.S. NEWSWIRE SERVICES FOR DISCLOSURE IN THE UNITED STATES
The Board of Directors of VisualVault Corporation (CNSX:VVT) (the "Company") is pleased to announce that during the past several months pursuant to the Company's non-exclusive worldwide platform as a service (PaaS) license granted by Auersoft LLC, several significant use-cases have been identified within key vertical markets that will impact upon the growth of the enterprise during the transition period, concluding in late November 2012, when the Company intends to close on the previously announced acquisition of the assets of Auersoft LLC.
Management has worked diligently with several large organizations to establish strategic alliances that will form the basis for quantifiable predictability of users within such key vertical markets as healthcare, dentistry, electronic data storage, securities regulation, and other markets where compliance is critical and where there is a strong need to manage vast quantities of unstructured data.
During the following weeks, the Company intends to execute key partnering agreements with several large enterprises who will become financial partners in the design, development, and sale of application specific use-cases for their customers. The go-to-market strategy will focus on the direct sale of use-case applications to customers of these strategic alliances. Revenues will be user based and delivered through the cloud.
Shareholders wishing additional information are invited to contact the Company at 602-865-9356.
About VisualVault Corporation
VisualVault Corporation, (Vancouver, BC and Scottsdale, Arizona) provides secure document management software as a service (SaaS) and compliance cloud services used where security and integrity of unstructured data is needed and compliance requirements are high. VisualVault Corporation markets the VisualVault™ platform under its Advantive Information Management (AIM) brand. The product is unique in its ability to meet the needs of a wide range of vertical markets including healthcare, securities regulation, manufacturing and government.
The Company intends to build upon current tier-one customers both within North America and internationally.
VisualVault Corporation obtained shareholder approval in December 2011 to acquire 100% of VisualVault Technologies Inc. and with it, the assets of Auersoft LLC of Mesa, Arizona.
The forward-looking information contained in this press release is made as of the date of this press release and except as required by applicable law, the company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires the company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
Neither the Canadian National Stock Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian National Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.