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StorageVault (TSXV:SVI) to acquire two additional storage locations
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  • StorageVault (SVI) has agreed to acquire two storage locations in Alberta and Ontario for C$29.45 million
  • One acquisition is arm’s length and one for $27.75 million is a related party acquisition with Access Self Storage
  • The company expects the acquisitions to close in Q2 2021
  • StorageVault will use cash, mortgage financing and up to $4 million in common shares to pay for the locations
  • StorageVault Canada owns and operates 216 storage locations across the country
  • StorageVault (SVI) is down 0.66 per cent and is currently trading at $4.49 per share

StorageVault (SVI) has agreed to acquire two storage locations in Alberta and Ontario for C$29.45 million.

One acquisition is arm’s length and one for $27.75 million is a related party acquisition with Access Self Storage.

The company expects the acquisitions to close in Q2 2021.

StorageVault will issue up to $4 million in common shares to certain vendors based on an agreed-upon VWAP ending two days prior to closing. The company will fulfill the remainder of the purchase price with mortgage financing and funds on hand.

StorageVault Canada owns and operates 216 storage locations in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec and Nova Scotia.

StorageVault (SVI) is down 0.66 per cent and is currently trading at $4.49 per share as of 10:17 am ET.

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