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VisualVault Corporation (CNSX:VVT) Appoints John Shackleton, Former CEO of OpenText as Director and Chairman

SCOTTSDALE, ARIZONA -- (Marketwired) -- 04/17/13 -- VisualVault Corporation (the "Company") (CNSX:VVT) is pleased to announce the appointment of Mr. John Shackleton to the Board of Directors as a non-executive Director and Chairman of the Board effective immediately.

John Shackleton currently serves as President and Co-CEO of SilkRoad. Mr. Shackleton has been an innovative visionary in the software industry for more than 30 years. Prior to joining SilkRoad in 2012, Mr. Shackleton served as the CEO of Open Text Corporation (NASDAQ:OTEX)(TSX:OTC) for 8 years, leading a $1.0 billion (USD) software company that became the world's leading independent provider of enterprise content management (ECM) software. Mr. Shackleton's extensive background in software and services management includes consulting, product development, sales management, and strategic planning roles in the Information Technology Industry. He joined OpenText from PLATINUM Technology, Inc., where he was President of the PLATINUM Solutions Division, providing consulting services to Global 2000 customers. Previously, he served as Vice President of Professional Services at Sybase®, Incorporated for the Central U.S. and South America. In addition, Mr. Shackleton served as Vice President of Worldwide Consulting at ViewStar® Corporation, a document management imaging company based in the San Francisco Bay Area.

Jack Saltich, current Chairman of the Board, welcomes the appointment and said, "Mr. Shackleton brings significant industry experience and governance knowledge to our Board and will be a true asset to the Company at this stage of its development." Mr. Saltich will continue as Chairman of the Company's Compensation Committee and will oversee all operational matters. Mr. Saltich joined the Company's Board of Directors in 2012. With over 35 years of experience in high technology, Mr. Saltich brings exceptional breadth and depth to the Company. Mr. Saltich currently serves as a Director of Immersion Corp., (NASDAQ:IMMR) a company that develops, licenses, and markets haptic technology and products, and Atmel Corporation (NASDAQ:ATML) which designs and manufactures a variety of integrated circuit products. Mr. Saltich is also a member of the Manufacturing Advisory Board for Cypress Semiconductor (NASDAQ:CY). From January 2006 until its sale in February 2011 Mr. Saltich served as Chairman and CEO of Vitex Systems, a private company that was a technology licensing, materials supplier and engineering services company focusing in the emerging area of flexible displays and flexible electronic products. Prior roles include President, CEO and a Director of Three-Five Systems, Inc., Vice President and General Manager of Advanced Micro Devices (NASDAQ:AMD), and Executive Vice President of Applied Micro Circuits Corporation (NASDAQ:AMCC) in San Diego, California.

Van Potter, VisualVault President and CEO commented, "Our Company is thrilled to welcome Mr. Shackleton to the Board as we know his domain expertise will be of great value to us as we strategize for growth through business partnerships and accretive acquisitions."

ON BEHALF OF THE BOARD OF DIRECTORS OF VISUALVAULT CORPORATION

Van Potter, President, CEO, Director

About VisualVault Corporation

VisualVault Corporation (Scottsdale, Arizona) provides business process and secure document management cloud services used to automate critical business processes where security and integrity of unstructured data is needed and compliance requirements are high. The service is unique in its ability to meet the most compelling and underserved needs of a wide range of vertical markets including health care, securities regulation, manufacturing and government.

The forward-looking information contained in this press release is made as of the date of this press release and except as required by applicable law, the company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise. By its very nature, such forward-looking information requires the company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.

Neither the Canadian National Stock Exchange nor its regulation services provider (as that term is defined in the policies of the Canadian National Stock Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
VisualVault Corporation
Brian Cameron
Chief Financial Officer
602-865-9356
[email protected]

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