Bear Lake Recreation to acquire Vault Tech

0 Comments | Deseret News (Salt Lake City), Oct 18, 2006

Salt Lake-based Bear Lake Recreation Inc. said Tuesday it will acquire Vault Technologies Inc. for an undisclosed amount.

Vault is an Alberta-based technology company that designs, manufactures, markets, implements and services information parking products.

Bear Lake said the closing is subject to the execution and delivery of a definitive agreement and various other conditions, including the raising of minimum gross proceeds of $2 million by Vault before the closing and the effectiveness of a 1-for-3.5-share reverse split by Bear Lake Recreation.