Business
StorageVault Announces Normal Course Issuer Bids for Common Shares and Debentures
TORONTO, March 19, 2025 (GLOBE NEWSWIRE) -- STORAGEVAULT CANADA INC. (“ StorageVault...
About this update from Storagevault Canada Inc.
[{"type":"text","content":"StorageVault Announces Normal Course Issuer Bids for Common Shares and Debentures\n\n\n\n TORONTO, March 19, 2025 (GLOBE NEWSWIRE) --\n \n STORAGEVAULT CANADA INC.\n \n (“\n \n StorageVault\n \n ” or the “\n \n Corporation\n \n ”) (\n \n SVI-TSX\n \n ) is pleased to announce that it has received conditional acceptance from the Toronto Stock Exchange (the “\n \n TSX\n \n ”) to conduct a Normal Course Issuer Bid (“\n \n NCIB\n \n ”) to purchase for cancellation, during the 12-month period starting March 21, 2025:\n \n\n (i) up to ‎18,314,775 of the outstanding common shares of the Corporation (the “\n \n Common\n \n\n Shares\n \n ”), representing 5% of the ‎‎366,295,510‎‎ Common Shares outstanding (as of March 12, 2025);\n \n\n (ii) outstanding 5.75% senior unsecured hybrid debentures of the Corporation issued in July 2020 and due on January 31, 2026 (“\n \n 2020\n \n\n Debentures\n \n ”) in the aggregate principal amount of $3,750,000, representing 5% of the currently outstanding $75,000,000 aggregate principal amount of 2020 Debentures (as of March 12, 2025);\n \n\n (iii) outstanding 5.50% senior unsecured hybrid debentures of the Corporation issued in July 2021 and due on September 30, 2026 (“\n \n 2021\n \n\n Debentures\n \n ”) in the aggregate principal amount of $‎2,873,750‎, representing 5% of the currently outstanding $57,475,000 aggregate principal amount of 2021 Debentures (as of March 12, 2025); and\n \n\n (iv) outstanding 5.00% convertible senior unsecured debentures of the Corporation issued in January 2023 and due on March 31, 2028 (“\n \n 2023\n \n\n Debentures\n \n ” and collectively, with the 2020 Debentures and 2021 Debentures, the “\n \n Debentures\n \n ”) in the aggregate principal amount of $7,491,850, representing 5% of the currently outstanding $149,837,000‎ aggregate principal amount of 2023 Debentures (as of March 12, 2025).\n \n\n Each NCIB will end on March 20, 2026, unless the maximum amount of Common Shares or Debentures, as applicable, is purchased before then or StorageVault provides earlier notice of termination. StorageVault will not acquire through the facilities of the TSX more than 97,844 Common Shares, $9,689 aggreg...