STORAGEVAULT CANADA INC. ("StorageVault") (TSX VENTURE:SVI) - further to a press
release dated October 14, 2008, StorageVault is pleased to announce that it has
completed the acquisition of all of the assets and business (collectively the
"Acquisition") of Kenaston Self Storage ULC ("Kenaston"). The Acquisition is an
arm's length transaction.


About the Acquisition

Kenaston is a self-storage business operating in Winnipeg Manitoba. The total
site size of the property is approximately 4.75 acres comprised of 495 fixed
unit self-storage rental units and 277 outside parking stalls for vehicle
storage. StorageVault intends to grow the Kenaston storage business through the
development of a PUPS portable storage franchise on the Kenaston site.
StorageVault expects that the PUPS portable storage franchise will be
operational June 2009.


The purchase price for the Acquisition was $7,150,000. The purchase price was
comprised of a cash payment totalling $2,900,000, bank debt financing of
approximately $3,750,000 and the issuance of $500,000 of common shares of
StorageVault (2,173,913 common shares), at a price of $0.23 per common share.
The Acquisition is subject to Final Acceptance of the TSX Venture Exchange.


StorageVault Canada Inc.

StorageVault currently operates and owns Trans Can Mini-Stor a fixed unit
self-storage property and a Canadian PUPS portable storage franchise, both of
which are located at 6050 Diefenbaker Avenue, Regina, Saskatchewan. StorageVault
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. The common
shares of the Corporation are listed on the TSX Venture Exchange.
Storagevault Canada (TSXV:SVI)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Storagevault Canada Charts.
Storagevault Canada (TSXV:SVI)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Storagevault Canada Charts.