STORAGEVAULT CANADA INC. ("StorageVault") (SVI-TSX-V) announced today that it understands that Access Self Storage Inc. ("Access") has acquired 15,000,000 common shares in the capital of StorageVault ("Common Shares") at a price of $1.50 per share, representing an aggregate purchase price of $22,500,000, from three vendors pursuant to a share purchase agreement, representing 5.17% of the issued and outstanding Common Shares of StorageVault.
STORAGEVAULT CANADA INC. (" StorageVault " or the " Corporation ") ( TSX VENTURE:SVI ) is pleased to announce the following: (1) that it has entered into a purchase agreement to acquire five stores in the Prairies for $22,000,000, (2) it has closed the previously announced acquisition of 5 stores in Ontario and Quebec for $66,850,000, and (3) it has issued 3,000,000 options to purchase common shares (“ Common Shares ”) of StorageVault.
STORAGEVAULT CANADA INC. (" StorageVault " or the " Corporation ") ( TSX VENTURE:SVI ) reported the Corporation's 2016 third quarter and nine months year to date results. Iqbal Khan, Chief Financial Officer, commented:
"We continue to achieve and exceed our acquisition plan, having closed or announced $114.5 million in acquisitions so far this year, combined with success on improving our operational results. With Q3 traditionally being the strongest quarter of the year, and with the performance of the stores acquired in 2015 being solid, we are on pace to achieve our expected annual results. To the end of quarter, we closed $78.7 million in acquisitions, closed a bought deal raise for gross proceeds of $57.5 million, issued an additional $7.1 in common shares to vendors in asset acquisitions, declared our third quarter dividend and increased net operating income from the prior quarter by 19.1%."
STORAGEVAULT CANADA INC. (" StorageVault ") (TSX VENTURE:SVI) is pleased to announce that, further to its August 8, 2016 news release, it has completed the $4,100,000 acquisition of all of the self storage assets, property and business used in the operation of one Ottawa area self storage store (the " Acquisition "). The Acquisition is an arm's length transaction.
STORAGEVAULT CANADA INC. (" StorageVault ") (TSX VENTURE:SVI) has entered into an asset purchase agreement executed on October 18, 2016 with a vendor (" Vendor" ) to purchase for an aggregate purchase price of $2,300,000, subject to customary adjustments, all of the self storage assets, property and business used in the operation of one self storage store in Ontario owned by the Vendor (the " Acquisition "). The Acquisition is an arm's length transaction. It is anticipated that the closing of the Acquisition will occur on or around December 15, 2016. The Acquisition will result in StorageVault having 16 stores in the Ontario market.