StorageVault To Acquire Two GTA Locations, Provides No Details

StorageVault Canada (TSXV: SVI) this morning announced that it will be acquiring two additional locations within the Greater Toronto Area. The locations have been acquired for an aggregate figure of $11.1 million.

Little detail was provided by the company on the locations, with it being unclear what specifically the company has actually acquired. The locations come from two separate vendor groups and are simply referred to as “stores.”

The acquisitions are slated to close in the third quarter however, with the combined figure to be paid with funds on hand and mortgage financing. A portion is also to be paid in the form of common shares of the company, to the tune of $4.25 million.

The closing of the transactions are reportedly subject to due diligence and environmental site assessments.

StorageVault last traded at $4.90 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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