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Other

StorageVault Announces Normal Course Issuer Bids for Common Shares and Debentures

By The Northwire Desk — AI Analysis Mar 19, 2026 · 07:00 SVI · 4.5 STORAGEVAULT CANADA INC.
SVI · Price

Executive Summary

  • StorageVault Canada Inc. received conditional acceptance from the TSX to commence a new NCIB, allowing the purchase and cancellation of up to 5% of its outstanding common shares and each class of senior unsecured hybrid/debentures.
  • The program runs for 12 months starting March 23 2026 and will terminate on March 22 2027, unless the maximum amounts are reached earlier.
  • Purchases will be funded from available cash, with National Bank Financial Inc. acting as the NCIB agent; daily purchase limits are tied to 25% of average daily trading volume for each security class.

Key Details

  • Maximum Repurchase Amounts
  • Common Shares: up to 18,265,484 shares (≈ 5 % of 365,309,695 outstanding).
  • 2021 Debentures (5.50 % hybrid): up to $2,873,750 principal (≈ 5 % of $57,475,000 outstanding).
  • 2023 Debentures (5.00 % convertible): up to $7,491,850 principal (≈ 5 % of $149,837,000 outstanding).

  • 2025 Debentures (5.60 % hybrid): up to $2,875,000 principal (≈ 5 % of $57,500,000 outstanding).

  • Program Duration & Termination

  • Starts: March 23 2026

  • Ends: March 22 2027 (or earlier if caps are reached or StorageVault gives notice).

  • Daily Purchase Limits (25 % of average daily trading volume, Sep 1 2025 – Feb 28 2026)

  • Common Shares: ≤ 65,861 shares per day (average volume 263,447).
  • 2021 Debentures: ≤ $12,848 per day (average volume $51,395).
  • 2023 Debentures: ≤ $38,173 per day (average volume $152,693).

  • 2025 Debentures: ≤ $56,629 per day (average volume $226,516).

  • Pricing & Funding

  • Purchase price will be the prevailing market price on the TSX at the time of each transaction, subject to securities‑law pricing rules.

  • All purchases will be funded from StorageVault’s available cash balances.

  • NCIB Agent – National Bank Financial Inc.

  • Board Rationale – The Board believes current market prices do not fully reflect intrinsic value and views the repurchase as an appropriate use of funds to create shareholder value.

  • Insider Participation – No director, senior officer or insider currently intends to sell shares/debentures under the NCIB, though future sales remain possible if personal circumstances change.

  • Historical Context

  • Prior NCIB (ended Mar 20 2026) allowed repurchase of up to 18,314,775 common shares and certain debentures; only 1,288,375 shares were bought at a VWAP of $3.91 per share. No debentures were purchased in that prior program.

  • Security Symbols – Common Shares: SVI, 2021 Debentures: SVI.DB.B, 2023 Debentures: SVI.DB.C, 2025 Debentures: SVI.DB.D.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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