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.
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As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
