REGINA, SASKATCHEWAN--(Marketwire - Jan. 26, 2011) - STORAGEVAULT CANADA INC. ("StorageVault") (TSX VENTURE:SVI) – StorageVault, as the master franchisee for Canadian PUPS portable storage in the territory of Canada is pleased to announce the signing of two PUPS portable storage franchise agreements (the "Franchise Agreements") with CSSL Sub LP ("CSSLP"), a limited partnership managed by Conundrum Capital Corporation. Each of the franchises ("Franchises") will operate in conjunction with CSSLP's Kanata and Peterborough fixed unit self storage facilities.
About the Franchise Agreements
Pursuant to both Franchise Agreements, CSSLP is granted the exclusive right to operate portable storage franchises in Ottawa and Peterborough under the trade names Canadian PUPS and PUPS. The initial terms of both Franchise Agreements are for ten years and each of the Franchise Agreements have two separate renewal options with each renewal term set at ten years. As consideration for CSSLP being granted the Franchises, and subject to the terms of the Franchise Agreements, CSSLP will pay StorageVault an initial non-recurring, non-refundable administration fee of $10,000 per location and an ongoing royalty fee of seven (7%) percent of gross sales from the Franchises for each monthly period during the term of the Franchise Agreements.
About StorageVault Canada Inc.
StorageVault currently owns and operates Trans Can Mini-Stor in Regina, Kenaston Self Storage in Winnipeg, B&B Self Storage in Cambridge, Parksville Mini Storage in the Regional District of Nanaimo and Canadian PUPS in Saskatoon. Both Trans Can Mini-Stor and Kenaston Self Storage are fixed unit storage facilities operating in conjunction with high margin Canadian PUPS portable storage franchises at each location. StorageVault currently operates Canadian PUPS in Saskatoon as a stand-alone portable storage franchise. StorageVault also manages six self-storage facilities in southern Ontario and intends to continue to grow its business through the acquisition of additional self-storage properties, and organically as master franchisee through the development of Canadian PUPS portable storage facilities in Canada. StorageVault intends to launch its PUPS portable storage business at both B&B Self Storage and Parksville Mini Storage in the spring of 2011.
About Conundrum Capital Corporation
Conundrum is a private equity management firm focused on delivering innovative real estate investments for major pension plans, financial institutions and high net worth investors.
Forward-Looking Information: This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such forward- looking information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward- looking information and a description of 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 www.sedar.com.
Contact Information: StorageVault Canada Inc.
Alan Simpson
President, CEO and a director
(306) 536-3771 or (306) 546-5999