NEWS: B: Cal-Bay Opens Escrow for Acquisition of Premium Development Property in Oceanside, Southern California
CARLSBAD, Calif., Dec 26, 2006 (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.
SOURCE: Cal-Bay International, Inc. Cal-Bay International, Inc. Tim Garlin, 760-930-0100 Fax: 760-930-0200 IR@calbayinternational.com www.calbayinternational.com Copyright Business Wire 2006 *** end of story *** |