StorageVault Completes Purchase of Two Storage Assets for $8.7 Million
23 August 2021 - 9:00PM
STORAGEVAULT CANADA INC.
(“
StorageVault”) (
SVI-TSX-V) is
pleased to announce that, further to its April 14, 2021 and July 8,
2021 news releases (all announced transactions are now closed), it
has completed the acquisition of two stores, one in the GTA and one
in Alberta, from two vendor groups (the
“
Acquisitions”), for an aggregate purchase price
of $8,672,000. The Acquisitions were arm’s length transactions.
The purchase price for the Acquisitions, subject
to customary adjustments, was paid by the issuance of 713,537
common shares of StorageVault (“Payment Shares”)
at an aggregate price of $3.6 million with the remainder being paid
with funds on hand. 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 the completion of these two purchases,
StorageVault has now closed $140.7 million of transactions to date
this year.
Continued Focus on Environmental
InitiativesWith the GTA store purchase, StorageVault
acquired a rooftop solar panel system adding to our ongoing
commitment to implement sustainable environmental practices.
About StorageVault Canada
Inc.StorageVault now owns and operates 226 storage
locations in the provinces of British Columbia, Alberta,
Saskatchewan, Manitoba, Ontario, Quebec, and Nova Scotia.
StorageVault owns 186 of these locations plus over 4,500 portable
storage units representing over 10.2 million rentable square feet
on over 600 acres of land. StorageVault also provides last mile
storage and logistics solutions and 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:
Tel: 1-877-622-0205ir@storagevaultcanada.com
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.
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