StorageVault Canada Inc. Announces the Acquisition of Land in SaskatoonApril 11, 2012
STORAGEVAULT CANADA INC. (StorageVault) (SVI-TSX-V) is pleased to announce the acquisition of 2.16 acres of undeveloped land in Saskatoon, Saskatchewan. The acquisition was conducted through a Court approved sales process with the transfer of title being conveyed to StorageVault on April 9, 2012. The aggregate purchase price was $480,000 (subject to customary adjustments) and was paid for by $360,000 of bank mortgage financing and the remainder in cash. The Corporation’s intention is to use the acquired land in Saskatoon for an expanded PUPS portable storage operation and as location to developa self-storage operation using PUPS storage units as fixed on-site storage lockers.