The purchase price for RV Storage of Saskatoon by StorageVault Canada Inc. has been amended. The aggregate purchase price has been reduced by $81,250 to $1.5 million. StorageVault Canada Inc. entered into an acquisition agreement to acquire the facility in Saskatoon, Saskatchewan, in January.
In addition, the due-diligence condition date has been extended to March 15. All other terms of the acquisition agreement remain the same.
RV Storage of Saskatoon comprises of 180,000 square feet of rentable storage area on 5.5 acres of land. The facility can store up to 700 vehicles. StorageVault intends to relocate and combine its PUPS portable-storage business presently operating out of a leased location in Saskatoon with RV Storage of Saskatoon.
StorageVault owns and operates Canadian PUPS portable storage in Saskatoon, Trans Can Mini-Stor in Regina, and Kenaston Self Storage in Winnipeg. The company intends to grow through the acquisition of self-storage properties and the development of portable-storage facilities in Canada. Its common shares are listed on the TSX Venture Exchange.