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StorageVault Enters Into Agreements to Acquire Three Stores for $55 Million

May 14, 2019 By Globenewswire Tagged With: CA86212H1055, TSX-V:SVI

TORONTO, May 14, 2019 (GLOBE NEWSWIRE) — STORAGEVAULT CANADA INC. (“StorageVault”) (SVI-TSX-V) is pleased to announce that it has entered into two separate agreements to acquire two stores in Ontario and one store in British Columbia from two vendor groups (collectively, the “Vendors”) for an aggregate purchase price of $55 million, subject to customary adjustments (the “Acquisitions”). The assets and business (the “BC Assets and Business”), but not the real property, of the British Columbia store will be purchased from Access Self Storage Inc. (“Access”) for a nominal cash payment to Access from StorageVault and the receipt by Access of the Access Payment Share Consideration as set forth below. Other than the acquisition of the BC Assets and Business from Access, the Acquisitions are from arm’s length Vendors. It is anticipated that the closing of each of the Acquisitions will occur on or before July 31, 2019.

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