StorageVault Completes $17,175,000 Purchase of 2 Co-Owned Calgary Stores
February 01, 2018
STORAGEVAULT CANADA INC. (“StorageVault”) (SVI-TSX-V) is pleased to announce that, it has completed the acquisition from its partner (the “Vendor”) of the remaining 50% interest in two Calgary stores resulting in the acquisition of all of the storage assets, property and business used in the operation and business of these stores (the “Acquisition”). StorageVault had already acquired an initial 50% interest in these stores pursuant to the Sentinel Storage acquisition which closed on July 31, 2017. The aggregate amount funded for the 50% interest was $17,175,000 and included the purchase of the remaining common shares held by the Vendor, the redemption of limited partnership units held by the Vendor and the repayment to the Vendor of loans made by the ownership of the stores. The above amounts were funded by cash on hand. The Acquisition is an arm’s length transaction.
ABOUT STORAGEVAULT CANADA INC.
StorageVault owns and operates storage locations in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Nova Scotia.
For further information, contact Mr. Steven Scott or Mr. Iqbal Khan:
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