REGINA, July 20, 2017 /CNW/ - This press release is issued by SaskWorks Venture Fund Inc. ("SaskWorks") pursuant to the early warning requirements of National Instrument 62-103 with respect to the common shares of StorageVault Canada Inc. (the "Issuer").
In concert with the closing the Issuer's bought deal financing (the "Offering") on July 19, 2017, SaskWorks disposed of 12,063,650 common shares ("Common Shares") of StorageVault Canada Inc. (the "Issuer"), representing 4.02% of the issued and outstanding Common Shares of the Issuer immediately prior to the Offering. Concurrently, SaskWorks' joint actor, Apex II Investment Fund Limited Partnership ("Apex II") disposed of 6,804,350 Common Shares of the Issuer, representing 2.27% of the issued and outstanding Common Shares of the Issuer immediately prior to the Offering.
SaskWorks now owns and controls 25,980,717 Common Shares of the Issuer (including share purchase warrants convertible into Common Shares), representing 7.44% of the issued and outstanding Common Shares (on a fully diluted basis) of the Issuer after the Offering. SaskWorks' joint actor Apex II no longer owns or controls any Common Shares of the Issuer.
The dispositions by SaskWorks and Apex II were made pursuant to a bought deal financing previously announced by the Issuer, SaskWorks and Apex II, as more particularly described in the short form prospectus of the Issuer dated July 12, 2017.
A copy of the early warning report filed under National Instrument 62-103 in connection with this acquisition is available under the Issuer's profile on the SEDAR website at www.sedar.com. A copy of the early warning report may be obtained upon request by contacting Rob Duguid at (306) 791-0165.
SOURCE SaskWorks Venture Fund Inc.
For further information: Rob Duguid, (306) 791-0165