TORONTO, June 24, 2024 (GLOBE NEWSWIRE) -- STORAGEVAULT CANADA INC. ("StorageVault") (SVI-TSX) is pleased to announce that it has agreed to acquire two locations from two arm's length vendor groups (collectively, the "Vendors") for an aggregate purchase price of $59,500,000, subject to customary adjustments (the "Acquisitions"). One of the locations is being purchased under a 50/50 joint venture ("Joint Venture"). StorageVault owns a self storage property that is nearby to the joint venture property and provides StorageVault the opportunity to expand its self storage business in that location.
The aggregate purchase price is expected to be paid with funds on hand, issuance of 640,000 StorageVault common shares valued at $4,000,000 to one of the Vendors and a vendor takeback mortgage from one of the Vendors. The Acquisitions are expected to close by the end of June.
Under the terms of the Joint Venture, the joint venture partner and StorageVault will each fund 50% of the purchase price of the Joint Venture location, which includes related expenditures.
The Acquisitions are subject to customary closing conditions for both StorageVault and the Vendors.
One of the assets are located in the GTA and one in Surrey, BC. The Acquisitions will result in StorageVault owning 218 stores and owning and managing 249 stores across Canada.
Updates Previously Announced Transactions
Completes Previously Announced Purchase of Asset
Further to its November 6, 2023, December 8, 2023 and December 28, 2023 news releases, StorageVault has completed the acquisition of a Barrie, ON located asset for $15,500,000, subject to customary adjustments. The purchase price was paid with funds on hand. This transaction completes all of the transactions announced on November 6, 2023 news release.
Terminates Previously Announced Purchase of Assets
Further to its December 28, 2023 news release, due to not being able to satisfy itself with due diligence conditions, StorageVault has terminated the acquisition of the two storage locations in Ontario for $20,000,000.
With the above two updates, the $35,500,000 of transactions outstanding from 2023 have been accounted for.
About StorageVault Canada Inc.
StorageVault owns and operates 247 storage locations across Canada. StorageVault owns 216 of these locations plus over 5,000 portable storage units representing over 12 million rentable square feet on over 700 acres of land. StorageVault also provides last mile storage and logistics' solutions and professional records management services, such as document and media storage, imaging and shredding services.
For further information, contact Mr. Steven Scott or Mr. Iqbal Khan:
Tel: 1-877-622-0205
ir@storagevaultcanada.com
Forward-Looking Information: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward-looking information. In particular, this news release contains forward-looking information in relation to: the proposed Acquisitions; the timing for completion of the proposed Acquisitions; the satisfaction of the conditions for completion of the proposed Acquisitions; the consideration to be paid for the purchase price for the proposed Acquisitions and the opportunity to expand the Corporation's self storage business. This forward-looking information reflects StorageVault's current beliefs and is based on information currently available to StorageVault and on assumptions StorageVault believes are reasonable. These assumptions include, but are not limited to: the satisfactory fulfilment of all of the conditions precedent to the proposed Acquisitions; the receipt of all required approvals for the proposed Acquisitions; market acceptance of the proposed Acquisitions; the receipt of, and accuracy of the value of, appraisals received for the proposed Acquisitions; acceptable financing to complete the proposed Acquisitions; the level of activity in the storage business and the economy generally; consumer interest in StorageVault's services and products; and competition and StorageVault's competitive advantages. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of StorageVault to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: general business, economic, competitive, political and social uncertainties; general capital market conditions and market prices for securities; delay or failure to receive board of directors, third party or regulatory approvals; the actual results of StorageVault's future operations; competition; changes in legislation, including environmental legislation, affecting StorageVault; the timing and availability of external financing on acceptable terms; conclusions of economic evaluations and appraisals; and lack of qualified, skilled labour or loss of key individuals. A description of additional risk factors that may cause actual results to differ materially from forward-looking information can be found in StorageVault's disclosure documents on the SEDAR+ website at . Although StorageVault has attempted to identify important risks and factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Readers are cautioned that the foregoing list of factors is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking information as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Forward-looking information contained in this news release is expressly qualified by this cautionary statement. The forward-looking information contained in this news release represents the expectations of StorageVault as of the date of this news release and, accordingly, is subject to change after such date. However, StorageVault expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities law.
多伦多,2024 年 6 月 24 日 (GLOBE NEWSWIRE) -- STORAGEVAULT CANADA INC.(以下简称 "StorageVault")(SVI-TSX)欣然宣布,公司已同意以 59,500,000 美元的总收购价从两个公平交易的供应商集团(统称 "供应商")手中收购两家分店,但会根据惯例进行调整(以下简称 "收购")。其中一个地点是以 50/50 合资企业("合资企业")的形式购买的。StorageVault 在合资企业附近拥有一处自助仓储物业,为 StorageVault 在该地点扩展自助仓储业务提供了机会。
预计总收购价格将使用手头资金支付,向其中一家供应商发行价值400万美元的640,000股StorageVault普通股,以及供应商从其中一家供应商处收回的抵押贷款。收购预计将于6月底完成。
根据合资企业的条款,合资伙伴和StorageVault将分别为合资企业所在地收购价格的50%提供资金,其中包括相关支出。
这些收购受StorageVault和供应商的惯例成交条件的约束。
其中一项资产位于大多伦多地区,另一项位于不列颠哥伦比亚省萨里。这些收购将使StorageVault拥有218家门店,并在加拿大拥有和管理249家门店。
更新先前宣布的交易
完成先前宣布的资产收购
继2023年11月6日、2023年12月8日和2023年12月28日发布的新闻稿之后,StorageVault已完成对位于安大略省巴里市的资产的收购,价格为1550万美元,但须视惯例调整而定。购买价格是用手头资金支付的。该交易完成了2023年11月6日新闻稿中宣布的所有交易。
终止先前宣布的资产收购
继2023年12月28日发布的新闻稿之后,由于无法满足尽职调查条件,StorageVault已终止以2,000万美元的价格收购安大略省两个存储地点。
通过上述两次更新,自2023年以来未清的3550万美元交易已经计算在内。
关于 StorageVault 加拿大公司
StorageVault 在加拿大拥有并运营 247 个存储地点。StorageVault拥有其中的216个场地以及超过5,000个便携式存储单元,在超过700英亩的土地上占地超过1200万平方英尺。StorageVault还提供最后一英里存储和物流解决方案以及专业记录管理服务,such 即文档和媒体存储、成像和切碎服务。
欲了解更多信息,请联系史蒂芬·斯科特先生或伊克巴尔·汗先生:
电话:1-877-622-0205
ir@storagevaultcanada.com
前瞻性信息:本新闻稿包含适用的加拿大证券立法所指的 “前瞻性信息”。除历史事实陈述外,此处包含的所有陈述均为前瞻性信息。特别是,本新闻稿包含与以下方面的前瞻性信息:拟议收购;拟议收购的完成时机;拟议收购完成条件的满足;为拟议收购价格支付的对价以及扩大公司自助存储业务的机会。这些前瞻性信息反映了StorageVault当前的信念,基于StorageVault目前获得的信息以及StorageVault认为合理的假设。这些假设包括但不限于:拟议收购的所有先决条件是否得到令人满意的满足;拟议收购的所有必要批准;市场对拟议收购的接受程度;拟议收购所收到评估的收到及其价值的准确性;可接受的融资待完成拟议的收购;存储业务和总体经济的活动水平;消费者对StorageVault服务和产品的兴趣;以及竞争和StorageVault的竞争优势.前瞻性信息受已知和未知风险、不确定性和其他因素的影响,这些因素可能导致StorageVault的实际结果、活动水平、业绩或成就与此类前瞻性信息所表达或暗示的结果存在重大差异。此类风险和其他因素可能包括但不限于:一般业务、经济、竞争、政治和社会不确定性;总体资本市场状况和证券市场价格;延迟或未获得董事会、第三方或监管机构的批准;StorageVault未来运营的实际结果;竞争;影响StorageVault的立法变化,包括环境立法;按可接受条件提供外部融资的时机和可用性;经济结论评估和评估;缺乏合格的熟练劳动力或关键人物的流失。有关可能导致实际业绩与前瞻性信息存在重大差异的其他风险因素的描述,可在SEDAR+网站上StorageVault的披露文件中找到,网址为。尽管StorageVault已尝试确定可能导致实际结果与前瞻性信息中包含的结果存在重大差异的重要风险和因素,但可能还有其他因素导致结果不如预期、估计或预期。请读者注意,上述因素清单并不详尽。还提醒读者不要过分依赖前瞻性信息,因为无法保证他们所依据的计划、意图或期望会实现。本警示声明明确限制了本新闻稿中包含的前瞻性信息。本新闻稿中包含的前瞻性信息代表了StorageVault截至本新闻发布之日的预期,因此在此日期之后可能会发生变化。但是,除非适用的证券法明确要求,否则StorageVault明确表示不打算或承担任何更新或修改任何前瞻性信息的意图或义务,无论这些信息是由于新信息、未来事件还是其他原因造成的。