SaskWorks invests in StorageVault's $5.5 mln private placement

StorageVault Canada Inc, a Regina-based operator of storage facilities across Canada, has closed its previously announced private placement. The company raised $5.5 million in gross proceeds, bringing total recent fundraising to about $22.6 million. SaskWorks Venture Fund, which is managed by Canadian private equity firm PFM Capital, invested in the offering and will as a result hold up to 21.32 percent of StorageVault's issued and outstanding common shares. The deal's proceeds will be used to fund StorageVault's proposed buy of Winnipeg Mini Storage and future acquisitions.

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