SOURCE: Vault Technology, Inc.

October 14, 2008 08:00 ET

Vault Technology Announces Settlement of Finance Contracts and Transfer of 100% Interest in Its Mineral Property

Focusing Resources Toward Audiovisual Integration and Technology Solutions Units

FORT LAUDERDALE, FL--(Marketwire - October 14, 2008) - Vault Technology, Inc. (OTCBB: VULT) today announced that it has transferred its undivided interest in its mineral property; the Wollaston Lake Property. Along with the transfer of the property, the company has also satisfied the finance contracts related to the above-mentioned property. The company will now focus all of its efforts on the audiovisual integration and technology solutions market segments.

"Now that we have transferred ownership of the Wollaston Lake property, we can concentrate our efforts on the execution of our business plan and focus on audiovisual systems integrators and other technology solution providers," said Nick Arroyo, President and CEO of Vault. "We believe it is an opportune time to focus 100% of our efforts in the business that we have expertise in, and are confident in its growth potential," added Arroyo.

About Vault Technology, Inc.

Vault Technology, Inc. will focus on acquiring operating entities that deliver products and services related to audiovisual systems integration, home theater systems and digital media. Vault is actively engaged in the acquisition and development of breakthrough strategies for the next generation of enterprise system solutions. Always looking for new opportunities, Vault will carefully select businesses that meet our strategic goals and work to successfully integrate these ventures into a cohesive business unit. If you would like additional information on Vault Technology, please visit our website at www.vaulttechnology.com

Safe Harbor Statement

This release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are commonly identified by words such as "would," "may," "will," "expects," and other terms with similar meaning. Forward-looking statements are based on current beliefs, assumptions and expectations and speak only as of the date of this release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. We assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.

Contact Information

  • CONTACT:
    Vault Technology, Inc.
    4901 NW 17th Way, Suite 405
    Fort Lauderdale, Fl 33309
    Phone: 954-492-9200
    Fax: 954-492-9639
    Email contact: Email Contact
    Website: www.vaulttechnology.com