STORAGEVAULT CANADA INC. ("StorageVault") (TSX VENTURE:SVI) is pleased to
announce that it has entered into an Acquisition Agreement of Purchase and Sale
(the "Acquisition Agreement") to acquire from an arm's length vendor a
self-storage facility located in Cambridge, Ontario. The aggregate purchase
price is $2.3675 million (subject to customary adjustments). The Acquisition
Agreement is subject to a number of conditions, including but not limited to:
(i) the completion of due diligence and environmental investigations with
respect to the property that must be satisfactory to StorageVault in its sole
discretion, (ii) financing, (iii) approval by the board of directors of
StorageVault to be given or withheld in its sole discretion, and (iv) if
applicable, the approval of the TSX Venture Exchange and the shareholders of
StorageVault.


There can be no assurance that the conditions under the Acquisition Agreement
will be satisfied or that the acquisition will be successfully completed. If all
conditions under the Acquisition Agreement are satisfied, the acquisition is
scheduled to close on April 23, 2010.


The purchase price payment terms for the acquisition will be a combination of
cash, bank debt financing, and the payment of a refundable deposit made to the
vendor upon execution of the Acquisition Agreement. StorageVault intends to
finance the acquisition with secured bank debt and the proceeds from a private
placement.


About StorageVault Canada Inc.

StorageVault currently owns and operates Trans Can Mini-Stor in Regina, Kenaston
Self Storage in Winnipeg and Canadian PUPS in Saskatoon. Both Trans Can
Mini-Stor and Kenaston Self 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 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 StorageVault are
listed on the TSX Venture Exchange.


Forward-Looking Information: This news release may contain certain
forward-looking information. All statements included herein, other than
statements of historical fact, is 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.
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