NOT FOR DISTRIBUTION TO US NEWS SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES
TORONTO, November 12, 2025 (GLOBE NEWSWIRE) — STORAGEVAULT CANADA INC. (“Vault“) (ALL-TSX) is pleased to announce the conclusion of an agreement with a syndicate of underwriters (“Underwriters“) led by CIBC Capital Markets and Scotiabank as joint bookrunners, pursuant to which the underwriters have agreed to purchase $50 million aggregate principal amount of quoted senior unsecured hybrid notes due December 31, 2030 (“Bonds“) at a price of US$1,000 per bond (“OfferStorageVault has also granted the underwriters the option to purchase up to an additional $7.5 million aggregate principal amount of notes on the same terms, subject to full or partial exercise, for a period of 30 days following the closing of the Offering. The Offering is expected to close on or about November 28, 2025.
StorageVault intends to use the net proceeds from the Offering to initially repay bank debt, which may subsequently be reused to fund the redemption of the listed 5.75% notes due January 31, 2026, to fund potential future acquisitions and for general corporate purposes.
The Notes will be direct senior unsecured obligations of StorageVault and will be: (i) subordinated to all existing and future senior secured indebtedness of StorageVault, (ii) subordinated to all existing and future secured indebtedness that is not senior secured indebtedness, but only to the extent of the value of the assets securing such other secured indebtedness, (iii) step by step with each bond issued pursuant to the indenture under which the bonds will be issued (“Agreement“) and all other present and future unsubordinated indebtedness of StorageVault that is not senior secured indebtedness or that is not indebtedness described in clause (ii) above, including trade creditors, (iv) senior in right of payment of the indebtedness of StorageVault which by its terms is subordinated in right of payment under the Notes, and (v) structurally subordinated to all existing and future obligations, including indebtedness and trade indebtedness. Accounts payable from StorageVault subsidiaries. Payment of principal, premium, if any, and interest on the Notes will be subordinated to the right of payment of all senior secured indebtedness of StorageVault as specified in the Indenture. The agreement will not restrict StorageVault or its subsidiaries from incurring additional indebtedness or from pledging, pledging or enforcing indebtedness as security for any indebtedness. or obligations. None of StorageVault's subsidiaries will guarantee the indebtedness.
The notes will bear interest at the rate of 5.60% per annum, payable semi-annually on June 30 and December 31 of each year, with the first interest payment due on June 30, 2026. The first payment will include accrued and unpaid interest for the period from closing through but excluding June 30, 2026. The bonds mature on December 31, 2026. 2030 (“Maturity date“).
StorageVault will not be able to pay off its debt obligations until December 31, 2028 (“First call date“). On the First Call Date and on and before December 31, 2029, the Notes will be redeemable in whole or in part from time to time at StorageVault's option at a redemption price equal to 102.8% of the principal amount of the Notes redeemed plus accrued and unpaid interest, if any, up to but excluding the date fixed for redemption. On and after December 31, 2029 and until the Redemption Date, The Notes may be redeemed in whole or in part from time to time at StorageVault's option at face value plus accrued and unpaid interest, if any, prior to, but not limited to, the due date for redemption, StorageVault shall provide at least 60 and at least 30 days' prior notice of redemption of the Notes.
The offering is subject to customary regulatory approvals, including the approval of the Toronto Stock Exchange (“TLC“). The preliminary short form prospectus will be filed with the securities regulatory authorities in all provinces of Canada. Delivery of the preliminary short form prospectus and any amendments thereto will be subject to the “access equals delivery” provisions of applicable Canadian securities laws. A copy of the preliminary short form prospectus, after filing, may be obtained on SEDAR+ at www.sedarplus.ca and from CIBC Capital Markets at 161 Bay Street, 5th Floor, Toronto, ON M5J 2S8 or by phone at 416-956-6378 or by email [email protected] or at: Scotiabank at 40 Temperance Street, 6th Floor, Toronto, Ontario M5H 0B4, Attention: Equity Capital Markets, or by telephone at 416-863-7704, or by email at: [email protected]. The preliminary summary prospectus will contain important detailed information about StorageVault and the proposed offering. Prospective investors should review the preliminary short form prospectus, the final short form prospectus and any amendments thereto since their filing, and other documents that StorageVault has filed on SEDAR+ at: www.sedarplus.ca before making an investment decision.
The securities offered in the Offering have not been and will not be registered under the United States Securities Act of 1933, as amended (“1933 Law” and may not be offered, sold or delivered, directly or indirectly, in the United States or to or for the account or account of “U.S. persons” (as defined in Regulation S of the 1933 Act), except pursuant to an exemption from the registration requirements of the 1933 Act. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities in the United States or for the account or benefit of persons USA.
About StorageVault Canada Inc.
StorageVault owns and operates 265 storage facilities across Canada. StorageVault owns 232 of these storage units, as well as more than 5,000 portable storage units, representing more than 13.2 million leasable square feet on 768 acres of land. StorageVault also provides storage and last-mile logistics solutions, as well as professional records management services such as document and media storage, imaging and shredding services.
For further information please contact Mr Stephen Scott or Mr Iqbal Khan:
Tel: 1-877-622-0205
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Forward-looking information: This press release contains “forward-looking information” within the meaning of applicable Canadian securities laws. All statements other than statements of historical fact included herein constitute forward-looking information. In particular, this press release contains forward-looking information with respect to: the Offering, including statements regarding the filing of the preliminary summary prospectus, the timing and expected completion of the Offering, the receipt of all regulatory and TSX approvals and the use of the net proceeds from the Offering. There can be no assurance that such forward-looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such forward-looking information. This forward-looking information reflects StorageVault's current beliefs, estimates, projections and projections and is based on information currently available to StorageVault as well as assumptions that StorageVault believes to be reasonable. These assumptions include, but are not limited to, assumptions regarding: the satisfaction or waiver of all conditions to completion of the Offering, including TSX receipt of the Offering and listing of the Notes; StorageVault's current and future business strategies; the environment in which StorageVault will operate in the future; expected revenues, expansion plans and StorageVault's ability to achieve its goals. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause StorageVault's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such 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 market prices for securities; delay or failure to obtain third party or regulatory approvals; the actual results of StorageVault's future operations; competition; changes in legislation, including environmental regulations, affecting StorageVault; timing and availability of external financing on acceptable terms; findings from economic assessments and evaluations; shortages of qualified, skilled labor or loss of key individuals; and the impact that the imposition of trade tariffs, particularly by the United States, could have on the global economy and the Canadian economy in particular. A description of additional risk factors that could cause actual results to differ materially from forward-looking information can be found in StorageVault's disclosure documents on SEDAR+ at: www.sedarplus.ca. Although StorageVault has attempted to identify important risks and factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that could cause results not to be as expected, estimated or intended. Readers are cautioned that the above list of factors is not exhaustive. Readers are also cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations on which they are based will occur. The forward-looking information contained in this press release is expressly qualified by this cautionary statement. The forward-looking information contained in this press release reflects StorageVault's expectations as of the date of this press release and, accordingly, are subject to change after such date. However, StorageVault expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities laws.
