StorageVault Canada Inc. has entered into letters of intent to acquire a self-storage facility in Winnipeg, Manitoba, for approximately $7.3 million and a portable-storage business in Regina, Saskatchewan, for approximately $1.35 million. The company aims to become the exclusive master franchisee for the future development and operation of portable-storage facilities throughout Canada. If outlined conditions are satisfied and the company received approval by the TSX Venture Exchange, both acquisitions are scheduled to close on or before July 31.
StorageVault currently owns and operates one self-storage property in Regina. It intends to grow through the acquisition of additional self-storage facilities and the development of portable-storage facilities. Its common shares are listed on the TSX Venture under the symbol SVI. For more information, call 306.536.3771.