StorageVault Closes Acquisition of $15 Million Calgary Self Storage Asset

CALGARY, ALBERTA--(Marketwired - Sept. 1, 2016) - STORAGEVAULT CANADA INC. ("StorageVault") (TSX VENTURE:SVI) is pleased to announce that, further to its August 2, 2016 news release, it has completed the $14,950,000 acquisition of all of the self storage assets, property and business used in the operation of one Calgary area self storage store (the "Acquisition"). The Acquisition is an arm's length transaction.

The purchase price for the Acquisition in the amount of $14,950,000, subject to adjustments, was paid with cash on hand, first mortgage financing and the assumption of certain debt in relation to the Acquisition. With this Acquisition, StorageVault now has five stores in the Alberta market.

About StorageVault Canada Inc.

StorageVault owns and operates storage locations in the provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, and Nova Scotia.

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.