StorageVault Completes Purchase of Kamloops Stores for $5.8 MillionNovember 17, 2017
TORONTO, Nov. 17, 2017 (GLOBE NEWSWIRE) — STORAGEVAULT CANADA INC. (“StorageVault”) (TSX-V:SVI) is pleased to announce that, further to its June 6, 2017 news release, it has completed the acquisition of all of the storage assets, property, leaseholds and business used in the operation and business of three stores in Kamloops (the “Acquisition”) for an aggregate purchase price of $5.8 million. The Acquisition is an arm’s length transaction.
The purchase price for the Acquisition in the amount of $5.8 million, subject to customary adjustments, was paid by the issuance of 394,191 common shares of StorageVault (“Payment Shares”) at a deemed aggregate price of $950,000 or $2.41 per Payment Share, with the remainder being paid with funds on hand. The Payment Shares are subject to a hold period that expires on March 17, 2018.
ABOUT STORAGEVAULT CANADA INC.
StorageVault owns and operates storage locations in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Nova Scotia.
For further information, contact Mr. Steven Scott or Mr. Iqbal Khan: