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.
多倫多,2024 年 6 月 24 日 (GLOBE NEWSWIRE) -- STORAGEVAULT CANADA INC.(以下簡稱 "StorageVault")(SVI-TSX)欣然宣佈,公司已同意以 59,500,000 美元的總收購價從兩個公平交易的供應商集團(統稱 "供應商")手中收購兩家分店,但會根據慣例進行調整(以下簡稱 "收購")。其中一個地點是以 50/50 合資企業("合資企業")的形式購買的。StorageVault 在合資企業附近擁有一處自助倉儲物業,爲 StorageVault 在該地點擴展自助倉儲業務提供了機會。
預計總收購價格將使用手頭資金支付,向其中一家供應商發行價值400萬美元的640,000股StorageVault普通股,以及供應商從其中一家供應商處收回的抵押貸款。收購預計將於6月底完成。
根據合資企業的條款,合資夥伴和StorageVault將分別爲合資企業所在地收購價格的50%提供資金,其中包括相關支出。
這些收購受StorageVault和供應商的慣例成交條件的約束。
其中一項資產位於大多倫多地區,另一項位於不列顛哥倫比亞省薩里。這些收購將使StorageVault擁有218家門店,並在加拿大擁有和管理249家門店。
更新先前宣佈的交易
完成先前宣佈的資產收購
繼2023年11月6日、2023年12月8日和2023年12月28日發佈的新聞稿之後,StorageVault已完成對位於安大略省巴里市的資產的收購,價格爲1550萬美元,但須視慣例調整而定。購買價格是用手頭資金支付的。該交易完成了2023年11月6日新聞稿中宣佈的所有交易。
終止先前宣佈的資產收購
繼2023年12月28日發佈的新聞稿之後,由於無法滿足盡職調查條件,StorageVault已終止以2,000萬美元的價格收購安大略省兩個存儲地點。
通過上述兩次更新,自2023年以來未清的3550萬美元交易已經計算在內。
關於 StorageVault 加拿大公司
StorageVault 在加拿大擁有並運營 247 個存儲地點。StorageVault擁有其中的216個場地以及超過5,000個便攜式存儲單元,在超過700英畝的土地上佔地超過1200萬平方英尺。StorageVault還提供最後一英里存儲和物流解決方案以及專業記錄管理服務,such 即文檔和媒體存儲、成像和切碎服務。
欲了解更多信息,請聯繫史蒂芬·斯科特先生或伊克巴爾·汗先生:
電話:1-877-622-0205
ir@storagevaultcanada.com
前瞻性信息:本新聞稿包含適用的加拿大證券立法所指的 “前瞻性信息”。除歷史事實陳述外,此處包含的所有陳述均爲前瞻性信息。特別是,本新聞稿包含與以下方面的前瞻性信息:擬議收購;擬議收購的完成時機;擬議收購完成條件的滿足;爲擬議收購價格支付的對價以及擴大公司自助存儲業務的機會。這些前瞻性信息反映了StorageVault當前的信念,基於StorageVault目前獲得的信息以及StorageVault認爲合理的假設。這些假設包括但不限於:擬議收購的所有先決條件是否得到令人滿意的滿足;擬議收購的所有必要批准;市場對擬議收購的接受程度;擬議收購所收到評估的收到及其價值的準確性;可接受的融資待完成擬議的收購;存儲業務和總體經濟的活動水平;消費者對StorageVault服務和產品的興趣;以及競爭和StorageVault的競爭優勢.前瞻性信息受已知和未知風險、不確定性和其他因素的影響,這些因素可能導致StorageVault的實際結果、活動水平、業績或成就與此類前瞻性信息所表達或暗示的結果存在重大差異。此類風險和其他因素可能包括但不限於:一般業務、經濟、競爭、政治和社會不確定性;總體資本市場狀況和證券市場價格;延遲或未獲得董事會、第三方或監管機構的批准;StorageVault未來運營的實際結果;競爭;影響StorageVault的立法變化,包括環境立法;按可接受條件提供外部融資的時機和可用性;經濟結論評估和評估;缺乏合格的熟練勞動力或關鍵人物的流失。有關可能導致實際業績與前瞻性信息存在重大差異的其他風險因素的描述,可在SEDAR+網站上StorageVault的披露文件中找到,網址爲。儘管StorageVault已嘗試確定可能導致實際結果與前瞻性信息中包含的結果存在重大差異的重要風險和因素,但可能還有其他因素導致結果不如預期、估計或預期。請讀者注意,上述因素清單並不詳盡。還提醒讀者不要過分依賴前瞻性信息,因爲無法保證他們所依據的計劃、意圖或期望會實現。本警示聲明明確限制了本新聞稿中包含的前瞻性信息。本新聞稿中包含的前瞻性信息代表了StorageVault截至本新聞發佈之日的預期,因此在此日期之後可能會發生變化。但是,除非適用的證券法明確要求,否則StorageVault明確表示不打算或承擔任何更新或修改任何前瞻性信息的意圖或義務,無論這些信息是由於新信息、未來事件還是其他原因造成的。