Less Mess Storage Inc. ("Less Mess" or the "Company"; formerly "DGM Minerals
Corp.") (TSX VENTURE:LMS) today announced that it has successfully completed its
previously announced acquisition of five self-storage facilities in Poland and
the Czech Republic. Please see the Company's press releases dated January 10,
2014, and April 7, 2014, for a description of the transaction and the assets.
The transaction has made Less Mess the largest self-storage chain in Central and
Eastern Europe, a region which management believes is poised for substantial
growth in the self-storage sector. The common shares of Less Mess are listed on
the TSX Venture Exchange under the symbol "LMS" and resume trading today.


Guy Pinsent, President and CEO of Less Mess, commented:

"This acquisition represents an important first step in building a substantial
self-storage business in a high growth region with almost zero market
penetration: a huge opportunity. The five stores acquired, four of which are
freehold properties in excellent locations in Warsaw and Prague, are generating
growing cash flow with further upside potential. Poland and the Czech Republic,
which have just celebrated 10 years' membership of the European Union, have
robust macroeconomic outlooks which will further underpin the self-storage
story. We now have a lot of work to do in rebranding, restructuring and rolling
out the business. The board would like to thank our staff and advisors for their
efforts in closing this complex transaction, and express our enthusiasm for
working together as we grow the Company."


Pursuant to a final share sale and purchase agreement dated April 24, 2014, the
Company purchased all of the issued and outstanding shares of five companies
which, collectively, own and operate the facilities. Three of the acquired
companies are incorporated in Poland (Krakowska House Sp. z o.o., Torunska House
Sp. z o.o. and City Self-Storage Sp. z o.o.) and two companies are incorporated
in the Czech Republic (Selvaag Evropska Building A.S. and City Self-Storage
S.R.O.). Collectively, the five acquired companies operate five self-storage
facilities, two of which are in Warsaw, Poland, and three of which are in
Prague, Czech Republic. The vendors under the share purchase agreement were
Selvaag Eiendom A.S. and Selvaag Self-Storage A.S. (the "Vendors"). The Vendors
are owned by Selvaag Gruppen A.S., a Norwegian company, and were advised by Oslo
headquartered investment bank, ABG Sundal Collier.


Less Mess acquired the companies for an aggregate purchase price of 14,000,000
Euros, 7,000,000 Euros of which was paid on closing, and 7,000,000 Euros of
which was Vendor-financed through the assumption by Less Mess of existing debt
owed by the acquired companies to the Vendors. In connection with the
acquisition, the Company completed a $7,000,000 equity offering and a $5,250,000
bond offering. 


The transaction was a "change of business" transaction under the policies of the
TSX Venture Exchange, and accordingly required the approval of the Company's
shareholders. In conjunction with the transaction, the Company's common shares
were consolidated on a 12:1 basis and the Company changed its name to "Less Mess
Storage Inc." The Company's shareholders approved the transaction, the
consolidation and the name change at the Company's annual general and special
meeting of shareholders held on March 27, 2014.


On closing of the transaction, Peter Smith resigned as the Company's President
and CEO in order for Guy Pinsent to adopt these roles. Pinsent is an
entrepreneur with a background in investment and corporate banking (Citibank
London, branded consumer team with clients including Bacardi, Diageo and British
American Tobacco), the British Foreign Service and real estate investment and
development. Pinsent was formerly a partner at Personal Storage, a private
British self-storage business, at the time the sixth largest in the UK, before
focussing on the self-storage opportunity in Poland and neighboring markets.
Pinsent's real estate experience includes head of business development at
Colliers International Poland, and consulting to a wide range or investors and
developers. He assisted on the financing, development and sale of Helical
Poland's 'Europa Centralna' retail park, an investment of EUR 115 million
delivering 720,000 square feet of retail space (Phase 1), one of the largest
retail developments in Europe. 


Peter Smith will remain Chairman of the Company's board and will act as Vice
President, Corporate Development.


The Company also announced that it has issued an aggregate of 815,000 stock
options to officers, directors and consultants of the Company. The stock options
have an exercise price of $1.00, vest immediately, expire five years from the
date of grant and are subject to a four month hold period. The grant of options
is subject to the provisions of the Company's Stock Option Plan, the policies of
the TSX Venture Exchange and applicable securities laws.


About the Company

Less Mess Storage Inc. owns and operates the largest self-storage chain in
Central and Eastern Europe. The Company's registered and records office is
located in Vancouver, British Columbia, its head office is located in Warsaw,
Poland, and it also has offices in Prague, Czech Republic. The Company's common
shares are listed on the TSX Venture Exchange under the stock symbol "LMS". For
further information, please refer to the Company's website at
www.lessmess-storage.com  and filings on SEDAR (www.sedar.com), or contact the
Company by telephone at 778.999.7030.


ON BEHALF OF THE BOARD

Guy Pinsent, President and CEO

This press release contains "forward-looking information" that is based on the
Company's current expectations, estimates, forecasts and projections. This
forward-looking information includes, among other things, the Company's
business, plans, outlook and business strategy. The words "may", "would",
"could", "should", "will", "likely", "expect," "anticipate," "intend",
"estimate", "plan", "forecast", "project" and "believe" or other similar words
and phrases are intended to identify forward-looking information.


Forward-looking information is subject to known and unknown risks, uncertainties
and other factors that may cause the Company's actual results, level of
activity, performance or achievements to be materially different from those
expressed or implied by such forward-looking information. Such factors include,
but are not limited to: changes in economic conditions or financial markets;
changes in prices for the Company's products and services; increases in costs;
litigation; legislative, environmental and other judicial, regulatory, political
and competitive developments; technological or operational difficulties; and
labour relations matters.


This list is not exhaustive of the factors that may affect our forward-looking
information. These and other factors should be considered carefully and readers
should not place undue reliance on such forward-looking information. Except as
required by law, the Company disclaims any intention or obligation to update or
revise forward-looking information, whether as a result of new information,
future events or otherwise.


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Less Mess Storage Inc.
778.999.7030
www.lessmess-storage.com

Latin Metals (TSXV:LMS)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Latin Metals Charts.
Latin Metals (TSXV:LMS)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Latin Metals Charts.