StorageVault Expands Footprint with Completion of $62.5 Million of Acquisitions of Five Storage Assets

Executive Summary

• StorageVault Canada Inc. completed the acquisition of five storage facilities for a total purchase price of $62.5 million.
• The consideration included $2 million of StorageVault common shares issued to Access Self Storage Inc., representing 0.09% of outstanding shares and maintaining Access’s ~37.8% ownership stake.
• The transaction relied on exemptions from the formal valuation and minority‑approval requirements under MI 61‑101 for the related‑party portion.

Key Details

• Acquisition Scope: Five stores acquired from four vendor groups; three arm’s‑length acquisitions and two related‑party acquisitions (totaling $42.4 million) with Access Self Storage Inc. (“Access”) and its affiliate.
• Purchase Price: Aggregate consideration of $62.5 million, subject to customary adjustments.
• Consideration Breakdown:
• $2 million in StorageVault common shares at $5.87 per share (340,716 Payment Shares).
• Cash on hand, promissory notes, and mortgage financing for the balance.
• Share Hold Period: The Payment Shares are subject to a hold period expiring on July 26 2026.
• Ownership Impact:
• Prior to closing, Access owned or controlled 138,013,107 shares (≈37.8% of outstanding).
• Post‑closing, Access owns or controls 138,353,823 shares (still ≈37.8%).
• The transaction does not materially change Access’s percentage ownership but may fluctuate with market activity.
• Regulatory Exemptions: Utilized MI 61‑101 exemptions under Section 5.5(a) and Section 5.7(1)(a) (fair‑market value ≤ 25% of market capitalization) to avoid formal valuation and minority‑approval requirements for the related‑party portion.
• Closing Timeline: Remaining transactions announced on December 18 2025 are expected to close in Q2 2026.

Notable Quotes

(No executive quotes were provided in the release.)