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CALGARY, ALBERTA--(Marketwired - March 18, 2016) - STORAGEVAULT CANADA INC. ("StorageVault") (TSX VENTURE:SVI) is pleased to announce that, further to its news release dated February 26, 2016, it has closed the non-brokered private placement (the "Offering") of common shares ("Common Shares"), subject to final acceptance from the TSX Venture Exchange ("TSXV"). Pursuant to the Offering, StorageVault issued 8,333,331 Common Shares at a price of $0.66 per Common Share for gross proceeds of $5.5 million. The Common Shares issued in connection with the Offering are subject to a hold period that expires on July 17, 2016. With the offering of Common Shares of StorageVault that closed in the last quarter of 2015, the total funds recently raised by StorageVault is approximately $22,600,000 (for further information in relation to StorageVault's previous offering, please see StorageVault's press release filed on SEDAR on January 5, 2016). |
