StorageVault Canada Inc. Announces The Acquisition Of A Cambridge, Ontario Self-Storage Business

PR-CANADA:

StorageVault Canada Inc. (”StorageVault”) is pleased to announce that it has entered into an Acquisition Agreement of Purchase and Sale (the “Acquisition Agreement “) to acquire from an arm’s length vendor a self-storage facility located in Cambridge, Ontario. The aggregate purchase price is $2.45 million (subject to customary adjustments). The Acquisition Agreement is subject to a number of conditions, including but not limited to: (i) the completion of due diligence and environmental investigations with respect to the property that must be satisfactory to StorageVault in its sole discretion, (ii) financing, (iii) approval by the board of directors of StorageVault to be given or withheld in its sole discretion; and (iv) if applicable, approval of the shareholders of StorageVault. The Acquisition is also subject to approval by the TSX Venture Exchange (the “TSX Venture”) in accordance with the applicable policies of the TSX Venture.

There can be no assurance that the conditions under the Acquisition Agreement will be satisfied, that TSX Venture approval will be granted, or that the acquisition will be successfully completed. If all conditions under the Acquisition Agreement are satisfied, the acquisition is scheduled to close on or before October 31, 2008 (however, under the terms of the Acquisition Agreement, the closing date may be extended by StorageVault for up to 4 months if necessary). More.