StorageVault Plans To Buy Two Locations For $46 Million

StorageVault Canada (TSXV: SVI) this morning announced that it will be acquiring two additional locations. The acquisitions have an aggregate purchase price of $46.05 million.

The firm said one of the acquisitions is worth $45.0 million with Access Self Storage as one of the vendors. The other acquisition is said to be an arm’s length.

The transactions are to be settled partly with cash on hand or assuming the acquired location’s debt and approximately $22.0 million in common shares. The two locations are located in Toronto, Ontario, and Winnipeg, Manitoba.

The acquisitions are expected to be closed in Q1 2022, subject to regulatory approvals and customary closing conditions.

StorageVault last traded at $6.83 on the TSX Venture.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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