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StorageVault Canada Inc. (SVI.V)

TSXV - TSXV Real Time Price. Currency in CAD
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4.4800+0.0100 (+0.22%)
At close: 3:59PM EDT
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Previous Close4.4700
Open4.5000
Bid4.5000 x 0
Ask4.5300 x 0
Day's Range4.4800 - 4.5900
52 Week Range2.9100 - 4.7400
Volume354,591
Avg. Volume125,544
Market Cap1.653B
Beta (5Y Monthly)0.86
PE Ratio (TTM)N/A
EPS (TTM)-0.0920
Earnings DateFeb. 25, 2021
Forward Dividend & Yield0.01 (0.24%)
Ex-Dividend DateMar. 30, 2021
1y Target Est4.82
  • StorageVault to Acquire 2 Storage Locations for $29.45 Million
    GlobeNewswire

    StorageVault to Acquire 2 Storage Locations for $29.45 Million

    TORONTO, April 14, 2021 (GLOBE NEWSWIRE) -- STORAGEVAULT CANADA INC. (“StorageVault”) (SVI-TSX-V) has agreed to acquire 2 stores from 2 vendor groups (collectively, the “Vendors”) for an aggregate purchase price of $29,450,000, subject to customary adjustments (the “Acquisitions”). One of the Acquisitions is arm’s length and one for $27,750,000 is a related party acquisition (the “Related Party Acquisition”) with Access Self Storage Inc. or its affiliates or associates (collectively, “Access”) as the Vendor. It is anticipated that the Acquisitions will close in Q2 2021. One asset is located in Ontario and the other in Alberta. These Acquisitions are incremental to the previously announced transactions as disclosed on March 3, 2021 and April 1, 2021. Purchase Price and PaymentThe aggregate purchase price is $29,450,000, subject to adjustments, and is payable by the issuance of an aggregate of up to approximately $4,000,000 of StorageVault common shares to certain of the Vendors based on an agreed upon VWAP ending two days prior to closing, with the remainder of the aggregate purchase price being paid with funds on hand and mortgage financing. Conditions Precedent to the AcquisitionsThe obligations of StorageVault to complete the Acquisitions are subject to conditions including, but not limited to: satisfactory due diligence, obtaining mortgage assumption approvals and first mortgage commitments, and satisfactory environmental site assessment reports. The obligations of both StorageVault and the Vendors to complete the closing of the Acquisitions are subject to the satisfaction of other customary closing conditions and include acceptance of the TSX Venture Exchange (“TSXV”). None of the two Vendor group Acquisitions are conditional or contingent on the completion of the other Acquisition. Exemption from MI 61-101 and TSXV Policy 5.9As Access is a non-arm’s length party to StorageVault, ‎the Related Party Acquisition is considered a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”) and TSXV Policy 5.9. StorageVault is relying on exemptions from the formal valuation and minority approval requirements of MI 61-101 and TSXV Policy 5.9, in respect of the Related Party Acquisition, pursuant to Section 5.5(b) (Issuer Not Listed on Specified Markets) and Section 5.7(a) (Fair Market Value Not More Than 25% of Market Capitalization) of MI 61-101, respectively. Other InformationThere can be no assurance that the Acquisitions will be completed as proposed or at all. The TSXV has in no way passed upon the merits of the Acquisitions and has neither approved nor disapproved the contents of this news release. No new insiders will be created, nor will any change of control occur, as a result of the ‎Acquisitions. ‎ About StorageVault Canada Inc.StorageVault now owns and operates 216 storage locations in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Nova Scotia. StorageVault owns 175 of these locations plus over 4,600 portable storage units representing over 9.5 million rentable square feet on over 570 acres of land. StorageVault also provides 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: 1-877-622-0205 ir@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. Forward-Looking Information: This news release contains “forward-looking information” within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information in relation to: the proposed Acquisitions‎; the timing for completion of the proposed Acquisitions; the satisfaction of the conditions for completion of the proposed Acquisitions‎; and the issuance of StorageVault common shares to satisfy a portion of the purchase price for certain of the proposed Acquisitions‎‎. This forward-looking information reflects StorageVault’s current beliefs and is based on information currently available to StorageVault and on assumptions StorageVault believes are reasonable. These assumptions include, but are not limited to: the completion of satisfactory due diligence by StorageVault in relation to the proposed Acquisitions‎; execution of purchase agreements for certain of the proposed Acquisitions; the satisfactory fulfilment of all of the conditions precedent to the proposed Acquisitions including satisfactory due diligence‎, mortgage assumption approvals, obtaining first mortgage commitments, and satisfactory ‎environmental site assessment reports‎; the receipt of all required approvals for the proposed Acquisitions‎, including TSXV acceptance and any third party consents (including for mortgage commitments and assumptions); the issuance of StorageVault common shares as disclosed above as part of the purchase price for certain of the proposed Acquisitions‎; market acceptance of the proposed Acquisitions‎; the receipt of, and accuracy of the value of, appraisals received for the proposed Acquisitions‎; acceptable financing to complete the proposed Acquisitions‎; the level of activity in the storage business and the economy generally; consumer interest in StorageVault’s services and products; competition and StorageVault’s competitive advantages; and StorageVault’s continued response and ability to navigate the COVID-19 pandemic being ‎consistent with, or better than, its ability and response to date‎. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of StorageVault to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive third party or regulatory approvals; the actual results of StorageVault’s future operations; competition; changes in legislation, including environmental legislation, affecting StorageVault; the timing and availability of external financing on acceptable terms; conclusions of economic evaluations and appraisals; lack of qualified, skilled labour or loss of key individuals; risks related to the COVID-19 pandemic including various recommendations, orders and measures of governmental authorities to try to limit the pandemic, including travel restrictions, border closures, non-essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a deterioration of general economic conditions including a possible national or global recession; and the impact that the COVID-19 pandemic may have on StorageVault which may include: a short-term delay in payments from customers, an increase in accounts receivable and an increase of losses on accounts receivable; decreased demand for the services that StorageVault offers; and a deterioration of financial markets that could limit StorageVault’s ability to obtain external financing. A description of additional 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. Although StorageVault has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of StorageVault as of the date of this news release and, accordingly, is subject to change after such date. However, StorageVault expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.

  • StorageVault positioned to benefit from accelerated e-commerce, launching innovative last mile platform - FlexSpace Logistics
    GlobeNewswire

    StorageVault positioned to benefit from accelerated e-commerce, launching innovative last mile platform - FlexSpace Logistics

    TORONTO, April 13, 2021 (GLOBE NEWSWIRE) -- STORAGEVAULT CANADA INC. ("StorageVault") (SVI-TSX-V) is pleased to announce that it is expanding its e-commerce presence with the launch of FlexSpace Logistics - a last mile end to end technology platform connecting businesses across Canada to storage space, logistics and inventory management services. Iqbal Khan of StorageVault commented: “As the number one lead generator in the Canadian storage industry, we have experienced high demand for a comprehensive business package that provides services for businesses of all sizes. By leveraging our 13 million square feet of space in 210 plus communities across Canada, FlexSpace Logistics is a perfectly suited last mile solution. Our platform provides solutions to businesses in an accelerated e-commerce environment where warehouse space is constrained and the efficiency of last mile space is a priority.” Lucas Koren, StorageVault’s FlexSpace Logistics venture lead commented: “FlexSpace Logistics enhances the services that our self storage brands have been providing for over 20 years with a business-centric focus, in addition to incorporating a 3PL component to our offerings. Connecting businesses to the right solution through our FlexSpace Logistics network, whether through our own space or through our vetted 3PL partners, allowing us to serve businesses from small to large, that have been underserved in the space. As the lead for this venture, I am passionate to continuously innovate and am excited to develop FlexSpace Logistics into a dominant player in the last mile solution space.” FlexSpace LogisticsOn the FlexSpace Logistics portal, businesses will find storage space, logistics and inventory management solutions to solve their needs. Our advanced geolocation technology matches businesses to the services and space they require. Businesses are then provided with quotes, locations and timing of their choosing. When on the FlexSpace Logistics platform, businesses can access a leading inventory management software system that tracks both inventory and orders while providing clarity and context in one place. A key component of any supply chain is a convenient, reliable and flexible logistics solution. FlexSpace Logistics offers businesses comprehensive digital shipping services and a 3PL warehousing network that ensure goods are delivered where and when needed. Learn more about the process and our offerings via: the FlexSpace Video (https://www.youtube.com/watch?v=pKfZgcjD1hw) or by visiting www.flexspacelogistics.com. About StorageVault Canada Inc.StorageVault now owns and operates 216 storage locations in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Nova Scotia. StorageVault owns 175 of these locations plus over 4,600 portable storage units representing over 9.5 million rentable square feet on over 570 acres of land. StorageVault also provides 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: 1-877-622-0205 ir@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. Forward-Looking Information: This news release contains “forward-looking information” within the meaning ‎of applicable Canadian securities legislation. All statements, other than statements of historical fact, included ‎herein are forward-looking information. In particular, this news release contains forward-looking information ‎in relation to: FlexSpace Logistics, including, the potential applications for, benefits of, general operation of, and solutions created by FlexSpace Logistics; the ability to connect businesses and the types of businesses that FlexSpace Logistics may serve; the ability develop FlexSpace Logistics into a dominant player in the last mile solution space. This forward-looking ‎information reflects StorageVault’s current beliefs and is based on information currently available to ‎StorageVault and on assumptions StorageVault believes are reasonable. These assumptions include, but are not ‎limited to: market acceptance of the FlexSpace Logistics platform; customers using the FlexSpace Logistics platform as anticipated, and the FlexSpace Logistics platform operating as management expects; and that FlexSpace Logistics will generate increased business leads. Forward-‎looking information is subject to known and unknown risks, uncertainties and other factors that may cause the ‎actual results, level of activity, performance or achievements of StorageVault to be materially different from ‎those expressed or implied by such forward-looking information. Such risks and other factors may include, ‎but are not limited to: general business, economic, competitive, political and social uncertainties; market and customer acceptance of the FlexSpace Logistics platform; general ‎capital market conditions and market prices for securities; delay or failure to receive third party or regulatory ‎approvals; the actual results of StorageVault’s future operations; competition; changes in legislation, including ‎environmental legislation, affecting StorageVault; the timing and availability of external financing on ‎acceptable terms; lack of qualified, skilled labour or loss ‎of key individuals; risks related to the COVID-19 pandemic including various recommendations, orders and ‎measures of governmental authorities to try to limit the pandemic, including travel restrictions, border ‎closures, non-essential business closures, service disruptions, quarantines, self-isolations, shelters-in-place and ‎social distancing, disruptions to markets, economic activity, financing, supply chains and sales channels, and a ‎deterioration of general economic conditions including a possible national or global recession; and the impact ‎that the COVID-19 pandemic may have on StorageVault which may include: a short-term delay in ‎payments from customers, an increase in accounts receivable and an increase of losses on accounts ‎receivable; decreased demand for the services that StorageVault offers; and a deterioration of ‎financial markets that could limit StorageVault’s ability to obtain external financing. A description of ‎additional 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. Although ‎StorageVault has attempted to identify important factors that could cause actual results to differ materially ‎from those contained in forward-looking information, there may be other factors that cause results not to be as ‎anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. ‎Readers are further cautioned not to place undue reliance on forward-looking information as there can be no ‎assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking ‎information contained in this news release is expressly qualified by this cautionary statement. The forward-‎looking information contained in this news release represents the expectations of StorageVault as of the date ‎of this news release and, accordingly, is subject to change after such date. However, StorageVault expressly ‎disclaims any intention or obligation to update or revise any forward-looking information, whether as a result ‎of new information, future events or otherwise, except as expressly required by applicable securities law.‎

  • 2 Top Canadian Stocks Under $5 to Buy Today
    The Motley Fool

    2 Top Canadian Stocks Under $5 to Buy Today

    StorageVault Canada Inc. (TSXV:SVI) and a growthy small-cap Canadian stock that investors can buy for under $5 this April 2021. The post 2 Top Canadian Stocks Under $5 to Buy Today appeared first on The Motley Fool Canada.