StorageVault Completes Purchase of Two Storage Assets for $20 Million and Surpasses 10 Million Square Feet of Rentable Space Milestone
June 22, 2021
STORAGEVAULT CANADA INC. (“StorageVault”) (SVI-TSX-V) is pleased to announce that, further to its March 3, 2021, April 1, 2021 and May 31, 2021 news releases, it has completed the acquisition of two stores, both in Southwestern Ontario (the “Acquisition”), for an aggregate purchase price of $20,000,000. The Acquisition was an arm’s length transaction.
The purchase price for the Acquisition, subject to customary adjustments, was paid by the issuance of 634,430 common shares of StorageVault (“Payment Shares”) at an aggregate price of $3.0 million with the remainder being paid with funds on hand and mortgage financing. The Payment Shares are subject to a hold period that expires four months and a day from the date of issuance of such shares.
With this transaction, StorageVault has now closed $123.8 million of transactions to date this year and now owns over 10 million square feet of rentable storage space.
About StorageVault Canada Inc.
StorageVault now owns and operates 222 storage locations in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Nova Scotia. StorageVault owns 182 of these locations plus over 4,400 portable storage units representing over 10.8 million rentable square feet on over 600 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.