Message #34 From:
NewsBot Date: December 27, 2006 06:01:00 AM
CBAY News Cal-Bay in Negotiations for Additional 30 Home Portfolio in Las Vegas, Nevada
CARLSBAD, Calif.--(BUSINESS WIRE)--Cal-Bay International, Inc. (OTCBB:CBAY) announces the company today
opened negotiations for the acquisition of an additional 30 home
portfolio in Las Vegas, Nevada.
Cal-Bay’s Board of Directors today announced
the company entered negotiations for the acquisition of an additional 30
single family home portfolio in Las Vegas, Nevada.
Upon successful completion, the acquisition will add approximately $13M
to Cal-Bay’s rapidly growing Las Vegas
property portfolio, and will additionally generate in the region of
$500,000 per year in rental revenues.
The pending acquisition would increase Cal-Bay's Las Vegas residential
property portfolio to over 85 Homes, and would generate approximately
$1.53M per year in revenues.
Cal-Bay is currently in negotiations for several other Residential and
Commercial development properties in the Las Vegas area.
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.
