Message #30 From:
NewsBot Date: November 29, 2006 10:11:00 AM
CBAY News Cal-Bay International to Close Escrow on 20.6 Acre Land Acquisition in Bonita, Southern California
CARLSBAD, Calif.--(BUSINESS WIRE)--Cal-Bay International, Inc. (OTCBB:CBAY) today announced the company
is in the final stages of closing escrow on the 20.6 acre land parcel in
Bonita, Southern California.
Cal-Bay’s Board of Directors today announced
the escrow agreements were in the final stages of completion and filing
of the documents is expected to take place within the next week.
The Bonita property located in South San Diego County is a premium
development property for 15-18 Ranch Style Luxury homes, which should
range from $1.3 - $1.8M each in value when completed. Construction is
planned to commence in early 2007 and will be developed by Cal-Bay
Subsidiary, COBS Homes, LTD.
Cal-Bay is currently in the process of updating the company’s
website.
CALBAYINTERNATIONAL.com
TLCOSOFTWARE.com
COBSHOMES.com
FORWARD-LOOKING SAFE HARBOR STATEMENT: To the extent that this
release discusses any expectations concerning future plans, financial
results or performance, such statements are forward-looking within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities and Exchange Act of 1934, as amended, and
are subject to substantial risks and uncertainties. Actual results could
differ materially from those anticipated in the forward-looking
statements. Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof and
reflect only management's belief and expectations based upon presently
available information. These statements, and other forward-looking
statements, are not guarantees of future performance and involve risks
and uncertainties.
The Company assumes no obligation to update any of the
forward-looking statements in this release.
