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StorageVault is pleased to announce that it has completed the acquisition of all of the assets and business (collectively the “Acquisition”) operating as Space Place Self Storage in southeast Calgary (“Space Place Self Storage Southeast”) from Ellmar Developments Ltd.  The Acquisition is an arm’s length transaction.

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StorageVault pleased to announce that under the terms of a credit agreement with the Bank of Montreal (‘BMO”), BMO has undertaken to provide $24 million in credit facilities to StorageVault. The credit facilities are comprised of: a $20 million revolving reducing term loan for re-financing of existing term debt and for future acquisition of self storage facilities; a $2 million revolving reducing capital expenditure line of credit for expansion of PUPS portable storage facilities; a $1 million revolving reducing line for the purchase of equipment associated with the operation of PUPS; and a treasury risk management facility subject to a limit of $1 million.

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