StorageVault Canada Inc.
TSX VENTURE : SVI

March 18, 2011 08:00 ET

StorageVault Canada Inc. Terminates the Acquisition of RV Storage Business in Saskatoon, Saskatchewan

REGINA, SASKATCHEWAN--(Marketwire - March 18, 2011) - StorageVault Canada Inc. ("StorageVault") (TSX VENTURE:SVI) announced today that it has terminated the Acquisition Agreement of Purchase and Sale to acquire from an arm's length vendor a recreational vehicle storage facility located in Saskatoon, Saskatchewan, as previously announced in a press release dated January 6, 2011. The acquisition was subject to customary due diligence and finance conditions that were not satisfactory to StorageVault in its sole discretion.

About StorageVault Canada Inc.

StorageVault currently owns and operates Trans Can Mini-Stor in Regina, Kenaston Self Storage in Winnipeg, B&B Mini 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 in connection with B&B Mini Storage and Parksville Mini Storage in the spring of 2011.

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 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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • StorageVault Canada Inc.
    Mr. Alan Simpson
    (306) 536-3771
    or
    StorageVault Canada Inc.
    3603 Selinger Crescent
    Regina, Saskatchewan
    S4V 2H7