StorageVault Completes Purchase of Two GTA Storage Assets for $8.2 Million

STORAGEVAULT CANADA INC. is pleased to announce that, further to its March 3, 2021 (all transactions from this news release are now closed) and July 8, 2021 news releases, it has completed the acquisition of two stores in the GTA from two vendor groups (the “Acquisitions”), for an aggregate purchase price of $8,150,000. The Acquisitions were arm’s length transactions.

The purchase price for the Acquisitions, subject to customary adjustments, was paid by the issuance of 447,385 common shares of StorageVault (“Payment Shares”) at an aggregate price of $2.15 million with the remainder being paid with funds on hand. The Payment Shares are subject to a hold period that expires four months and a day from the date of issuance of such shares.

With the completion of these two purchases, StorageVault has now closed $132.0 million of transactions to date this year.