STORAGEVAULT CANADA INC. (“StorageVault” or the “Corporation”) (SVI-TSX-V) today reported the Corporation’s full year 2016 audited results. Steven Scott, Chief Executive Officer, commented:
“2016 proved to be another solid year of growth for StorageVault. The results reflect significant year over year growth in assets owned, equity, revenue, net operating income and funds from operations. Our focus continues to be growing cash flow through improved operations, acquisitions and expansion. We doubled our asset base from the end of 2015, with $178.4 million in acquisitions in 2016. We also increased our share capital by $118.9 million dollars by issuing shares to acquire assets and through a bought deal issuance of common shares. Looking ahead, we expect to do between $50 to $90 million of acquisitions in 2017, excluding any large portfolio acquisitions such as the $396.6 million acquisition recently announced. In addition, SVI internalized management of StorageVault’s stores and acquired the third party management contracts for over 55 stores from Access Results Management Services Inc. The third party management platform is an important acquisition funnel for StorageVault and it provides a separate and valuable revenue stream.”
STORAGEVAULT CANADA INC. (“StorageVault”) (SVI-TSX-V) is pleased to announce that is has completed the following three acquisitions: (1) the acquisition of five stores in the Prairies; (2) the acquisition of one store in Kamloops; and (3) internalizes management and acquires third party management business.
STORAGEVAULT CANADA INC. (“StorageVault”) (SVI-TSX-V) is pleased to announce the following: (1) it has entered into a share purchase agreement executed on March 21, 2017 to acquire all of the shares of a private Canadian corporation from an arm’s length shareholder for $396,600,000 resulting in StorageVault acquiring a Canadian portfolio of storage assets; and (2) it has reached an agreement in principle with Access Results Management Services Inc., a related party of StorageVault, to internalize management of StorageVault’s 50 stores and acquire the third party management contracts for over 55 stores from Access Results Management Services Inc. for $16,000,000.
STORAGEVAULT CANADA INC. (“StorageVault”) (SVI-TSX-V) is pleased to announce that, further to its September 6, 2016 and March 17, 2017 news releases, it has completed the $7,400,000 acquisition of all of the storage assets, property and business used in the operation of one Kitchener area storage asset (the “Acquisition”). The Acquisition is an arm’s length transaction.
STORAGEVAULT CANADA INC. (“StorageVault” or the “Corporation”) (SVI-TSX-V) is pleased to announce the following: (1) it intends to close the previously announced acquisitions for the Kitchener asset, the 5 store Prairie portfolio and the Kamloops asset on or before March 31, 2017, and (2) it has issued 3,000,000 options to directors, officers, employees and consultants of StorageVault.