StorageVault Completes Purchase of Kamloops Stores for $5.8 Million
November 17 2017 - 8:40AM
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:
Tel: 1-877-622-0205ir@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.
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