Bear Lake Recreation Inc. (OTCBB:BLKE) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
to a Common Stock Purchase Agreement dated as of April 5, 2017, by and among Manchester Explorer, LP, a Delaware limited partnership (the “Purchaser”), Bear Lake Recreation Inc. (“we,” “us,” “our” and words of similar meaning) and certain person named therein (the “SPA”), we have agreed to sell, subject to the terms and conditions set forth in the SPA, to the Purchaser 2,900,000 shares of our restricted common stock (the “Share Acquisition”), for a purchase price of $375,000 (the “Purchase Price”). to the SPA (i) immediately prior to and as a condition to the closing of the Share Acquisition (the “Closing”), we will have no more than 600,000 shares of our common stock issued and outstanding, and (ii) simultaneously with the Closing, our current officers and directors shall resign immediately following the appointment by our current Board of Directors of certain nominees of the Purchaser as our new officers and directors and we will have no indebtedness and/or other financial obligations outstanding. It is currently anticipated that the Closing shall occur on or following April 20, 2017. There are numerous conditions to the Closing of the Share Acquisition, and no assurance can be given that a Closing will be completed. Additional information about the SPA, the Share Acquisition and related matters and agreements can be found in our Schedule 14f-1 Information Statement filed with the Securities and Exchange Commission (the “SEC”) on April 5, 2017, to Section 14 of the Securities Exchange Act of 1934, as amended, and Rule 14f-1 promulgated thereunder. A copy of the SPA is attached hereto as Exhibit 10 and incorporated herein by reference in Item 9.01.
Item 9.01 Financial Statements and Exhibits.
Title of Document
Stock Purchase Agreement dated April 5, 2017
About Bear Lake Recreation Inc. (OTCBB:BLKE)
Bear Lake Recreation, Inc. is a shell company. The Company is seeking and investigating potential assets, property or businesses to acquire. As of June 30, 2016, the Company had not generated any revenues. The Company’s initial operations consist of renting snowmobiles and all-terrain vehicles (ATVs). Bear Lake Recreation Inc. (OTCBB:BLKE) Recent Trading Information
Bear Lake Recreation Inc. (OTCBB:BLKE) closed its last trading session 00.000 at 0.270 with shares trading hands.