Mining & Metals
Margaux REIT Signs LOI to Acquire Quebec Self-Storage Property for C$12.5 Million
Margaux Real Estate Investment Trust (ALFA-UN.V) signed a letter of intent (LOI) for the acquisition of a self-storage property located in Saint-Basile-le-Grand, Quebec, in an arm's-length deal, it said on Friday.The total purchase price payable to the vendor at closing is C$12.5 million, with closing anticipated to occur by the end of July, it said. The vendor agreed that C$500,000 of the purchase price will be satisfied through the issuance of trust units of Margaux.The company expects the balance of the purchase price to be funded through a combination of debt financing and available cash.Shares of the company were last seen unchanged at C$1.1 on the TSX Venture Exchange.
$ALFA-UN.V
