StorageVault Canada Inc. Announces the Acquisition of an Rv Storage Business in Saskatoon, SaskatchewanJanuary 6, 2011
STORAGEVAULT CANADA INC. (“StorageVault”) (SVI-TSX-V) is pleased to announce that it has entered into an Acquisition Agreement of Purchase and Sale (the “Acquisition Agreement”) to acquire from an arm’s length vendor a recreational vehicle storage facility located in Saskatoon, Saskatchewan known as RV Storage of Saskatoon. The aggregate purchase price is $1.625 million (subject to customary adjustments). The Acquisition Agreement is subject to a number of conditions, including but not limited to: (i) the completion of due diligence and environmental investigations with respect to the property that must be satisfactory to StorageVault in its sole discretion, (ii) financing, (iii) approval by the board of directors of StorageVault to be given or withheld in its sole discretion; (iv) if applicable, approval of the shareholders of StorageVault; and (v) subdivision of the lands pertaining to the facility.