CALGARY, ALBERTA--(Marketwired - June 20, 2016) - STORAGEVAULT CANADA INC. ("StorageVault") (TSX VENTURE:SVI) is pleased to announce that, further to its April 13, 2016 news release, it has completed the $8,240,000 acquisition of all of the self storage assets, property and business used in the operation of one Vernon, British Columbia area self storage store (the "Acquisition"). The Acquisition is an arm's length transaction.
The purchase price for the Acquisition in the amount of $8,240,000, subject to adjustments, was paid in cash and was financed with funds on hand and first mortgage financing. Following the Acquisition, StorageVault has 9 stores in the strong British Columbia market.
About StorageVault Canada Inc.
StorageVault owns and operates storage locations in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Nova Scotia.