StorageVault Enters Into Agreements to Acquire Three Stores for $55 Million

World News: . []

TORONTO, May 14, 2019 (GLOBE NEWSWIRE) -- (“”) () is pleased to announce that it has entered into two separate agreements to acquire two stores in Ontario and one store in British Columbia from two vendor groups (collectively, the “”) for an aggregate purchase price of $55 million, subject to customary adjustments (the “”). The assets and business (the “”), but not the real property, of the British Columbia store will be purchased from Access Self Storage Inc. (“”) for a nominal cash payment to Access from StorageVault and the receipt by Access of the Access Payment Share Consideration as set forth below. Other than the acquisition of the BC Assets and Business from Access, the Acquisitions are from arm’s length Vendors. It is anticipated that the closing of each of the Acquisitions will occur on or before July 31, 2019.

For further information, contact Mr. Steven Scott or Mr. Iqbal Khan:

Tel: 1-877-622-0205

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; and the issuance of the Payment Shares to satisfy a portion of the purchase price for certain of the proposed Acquisitions. 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 completion of satisfactory due diligence by StorageVault in relation to the proposed Acquisitions; the satisfactory fulfilment of all of the conditions precedent to the proposed Acquisitions; the receipt of all required approvals for the proposed Acquisitions including TSXV acceptance; the issuance of the Payment Shares as disclosed above as part of the purchase price for certain of the proposed Acquisitions; market acceptance of the proposed Acquisitions; the value of the appraisals received for the proposed Acquisitions; and acceptable financing to complete the proposed Acquisitions. 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 or regulatory approvals; the actual results of 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 www.sedar.com. Although StorageVault has attempted to identify important 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.

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Globe Newswire: 00:39 GMT Wednesday 15th May 2019

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