Message #33 From:
NewsBot Date: December 26, 2006 09:25:00 AM
CBAY News Cal-Bay Opens Escrow for Acquisition of Premium Development Property in Oceanside, Southern California
CARLSBAD, Calif.--(BUSINESS WIRE)--Cal-Bay International, Inc. (OTCBB: CBAY) announces the opening of
escrow for the acquisition of a premium property parcel in Oceanside,
Southern California.
Cal-Bay’s Board of Directors today announced
the company entered in to the contract for the purchase of the property
in Oceanside, California for $1.3M, in all cash and financing
transaction.
The property is in the final stages of planning and permitting for the
construction of a Three Unit Luxury Condominium complex in a rapidly
appreciating area of Oceanside, Southern California, which on completion
is expected to be valued in excess of $3M.
Cal-Bay is currently in negotiations for several other Residential and
Commercial development properties.
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.
