StorageVault positioned to benefit from accelerated e-commerce, launching innovative last mile platform - FlexSpace Logistics
April 13, 2021
STORAGEVAULT CANADA INC. ("StorageVault") (SVI-TSX-V) is pleased to announce that it is expanding its e-commerce presence with the launch of FlexSpace Logistics - a last mile end to end technology platform connecting businesses across Canada to storage space, logistics and inventory management services.
Iqbal Khan of StorageVault commented: “As the number one lead generator in the Canadian storage industry, we have experienced high demand for a comprehensive business package that provides services for businesses of all sizes. By leveraging our 13 million square feet of space in 210 plus communities across Canada, FlexSpace Logistics is a perfectly suited last mile solution. Our platform provides solutions to businesses in an accelerated e-commerce environment where warehouse space is constrained and the efficiency of last mile space is a priority.”
Lucas Koren, StorageVault’s FlexSpace Logistics venture lead commented: “FlexSpace Logistics enhances the services that our self storage brands have been providing for over 20 years with a business-centric focus, in addition to incorporating a 3PL component to our offerings. Connecting businesses to the right solution through our FlexSpace Logistics network, whether through our own space or through our vetted 3PL partners, allowing us to serve businesses from small to large, that have been underserved in the space. As the lead for this venture, I am passionate to continuously innovate and am excited to develop FlexSpace Logistics into a dominant player in the last mile solution space.”
On the FlexSpace Logistics portal, businesses will find storage space, logistics and inventory management solutions to solve their needs.
Our advanced geolocation technology matches businesses to the services and space they require. Businesses are then provided with quotes, locations and timing of their choosing.
When on the FlexSpace Logistics platform, businesses can access a leading inventory management software system that tracks both inventory and orders while providing clarity and context in one place.
A key component of any supply chain is a convenient, reliable and flexible logistics solution. FlexSpace Logistics offers businesses comprehensive digital shipping services and a 3PL warehousing network that ensure goods are delivered where and when needed.
Learn more about the process and our offerings via:
the FlexSpace Video (https://www.youtube.com/watch?v=pKfZgcjD1hw)
or by visiting www.flexspacelogistics.com.
About StorageVault Canada Inc.
StorageVault now owns and operates 216 storage locations in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Nova Scotia. StorageVault owns 175 of these locations plus over 4,600 portable storage units representing over 9.5 million rentable square feet on over 570 acres of land. StorageVault also provides professional records management services, such as document and media storage, imaging and shredding services.
For further information, contact Mr. Steven Scott or Mr. Iqbal Khan:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information in relation to: FlexSpace Logistics, including, the potential applications for, benefits of, general operation of, and solutions created by FlexSpace Logistics; the ability to connect businesses and the types of businesses that FlexSpace Logistics may serve; the ability develop FlexSpace Logistics into a dominant player in the last mile solution space. This forward-looking information reflects StorageVault’s current beliefs and is based on information currently available to StorageVault and on assumptions StorageVault believes are reasonable. These assumptions include, but are not limited to: market acceptance of the FlexSpace Logistics platform; customers using the FlexSpace Logistics platform as anticipated, and the FlexSpace Logistics platform operating as management expects; and that FlexSpace Logistics will generate increased business leads. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of StorageVault to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; market and customer acceptance of the FlexSpace Logistics platform; general capital market conditions and market prices for securities; delay or failure to receive third party or regulatory approvals; the actual results of StorageVault’s future operations; competition; changes in legislation, including environmental legislation, affecting StorageVault; the timing and availability of external financing on acceptable terms; lack of qualified, skilled labour or loss of key individuals; risks related to the COVID-19 pandemic including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; and the impact that the COVID-19 pandemic may have on StorageVault which may include: a short-term delay in payments from customers, an increase in accounts receivable and an increase of losses on accounts receivable; decreased demand for the services that StorageVault offers; and a deterioration of financial markets that could limit StorageVault’s ability to obtain external financing. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in StorageVault’s disclosure documents on the SEDAR website at www.sedar.com. Although StorageVault has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of StorageVault as of the date of this news release and, accordingly, is subject to change after such date. However, StorageVault expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.