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Show Hew Corporation Taking Over 80 Per Cent of Ski Park West San Bernardino, California-Life California-Life Resources Incorporated (LRI), formerly Fidelity Capital Cap-ital Corporation, has entered into an agreement to acquire approximately 80 of the issued and outstanding shares of stock of Ski Park City West, Inc. (Ski Park), a Utah corporation, from a few Ski Park stockholders stock-holders in exchange for shares of LRI, it was announced by Gary Williamson, Chief Executive Officer of LRI. Mr. Williamson also said that a previously announced merger agreement between LRI snd Ski Park has been mutually rescinded res-cinded for the benefit of both companies. The long time delays de-lays and mounting expenses of completing a merger in light of required stockholder approval and proceedings before various regulatory authorities were given as reasons for abandoning the merger. LRI is a basic resource company com-pany with particular emphasis on food, shelter, and recreational recrea-tional a ctivities. The company's com-pany's land development program pro-gram includes residential, commercial, and recreational projects. United Commodities International, a wholly-owned subsidiary, packages and mar kets environmentally controlled control-led food products. LRI provides basic shelter through it's land development program, including includ-ing residential and commercial building. Ski Park operates a well known ski resort with adjoining land 25 miles east of Salt Lake City, Utah. Ski Park's facilities consist of four double chair lifts and a variety of 18 runs on approximately 3,000 acres of accessible ski terrain.. In addition ad-dition to the actual ski facilities, facil-ities, the company owns and maintains a day lodge with a restaurant and related skiing concessions located on 28 acres of land, as well as a summit lodge with restaurant facilities located at the top of the ski area. Aspen Grove, Inc., a wholly-owned land subsidiary, has approximately 100 acres of commercially zoned land adjacent ad-jacent to the ski resort. Also, Ski Park acquired East Park on the Jordanelle, which owns approximately 1,000 acres of land in the Ski Park vicinity next to the proposed site of the Jordanelle Reservoir, a U.S. Government water resource and recreational project for the Central Utah Bonneville Water Project. |
