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StorageVault Completes a Share Purchase Agreement for 1.38 Acres of Land in Southeast Calgary, Alberta
REGINA, SASKATCHEWAN--(Marketwire - Dec. 4, 2012) - STORAGEVAULT CANADA INC. ("StorageVault") (TSX VENTURE:SVI) further to a press release dated November 6, 2012 StorageVault is pleased to announce that it has completed a share purchase agreement whereby StorageVault purchased all of the issued and outstanding shares (the "Shares") of a private Alberta corporation ("TargetCo") from three arm's length shareholders of TargetCo. The aggregate purchase price for the Shares was $845,000 (subject to customary adjustments). TargetCo.'s sole asset is a 1.38-acre parcel of land located at 6969 44th Street, in Southeast Calgary.
About the Land
The 1.38 acres of land will be developed as a Canadian PUPS portable storage facility and will be operated in conjunction with Space Place Self Storage. Space Place Self Storage is owned and operated by StorageVault and has over 400 rental units with approximately 35,000 square feet of rentable self- storage space.
About StorageVault Canada Inc.
StorageVault currently owns and operates Trans Can Mini-Stor in Regina, Kenaston Self Storage in Winnipeg, B&B Self Storage in Cambridge, Parksville Mini Storage in the Regional District of Nanaimo, Space Place Self Storage in Calgary, and Canadian PUPS in Saskatoon. Trans Can Mini-Stor, Kenaston Self Storage, B&B Mini Storage and Parksville Mini Storage are fixed unit storage facilities operating in conjunction with high margin Canadian PUPS portable storage franchises at each location. StorageVault operates Canadian PUPS in Saskatoon as a stand-alone portable storage franchise. StorageVault also manages five self-storage facilities in southern Ontario and intends to continue to grow its business through the acquisition of additional self-storage properties, and organically as master franchisee through the development of Canadian PUPS portable storage facilities in Canada.
Forward-Looking Information: This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward- looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in StorageVault's disclosure documents on the SEDAR website at www.sedar.com.
