Cal-Bay Acquires New Luxury Homes Portfolio for $4M in Las Vegas, Nevada.CARLSBAD, Calif. -- Cal-Bay International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBAY) announces the purchase of 7 newly built luxury homes in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. , Nevada. Cal-Bay's Board of Directors today announced the company purchased the 7 newly completed luxury homes in South Las Vegas, adjacent to the luxurious Henderson suburbs. The portfolio comprises of 7 new luxury single family homes ranging from 2500-2800 square feet in size and valued at $550-$600,000 each. This acquisition will add $4M package to Cal-Bay's rapidly growing Las Vegas property portfolio, and will additionally generate in the region of $240,000 per year in rental revenues. The close of escrow escrow Instrument, such as a deed, money, or property, that constitutes evidence of obligations between two or more parties and is held by a third party. It is delivered by the third party only upon fulfillment of some condition. is scheduled for Friday, October 13, 2006 in Las Vegas, Nevada. Cal-Bay is currently in negotiations for several other Residential and Commercial development properties in the Las Vegas area. FORWARD LOOKING SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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 forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof here·of adv. Of this. hereof Adverb Formal or law of or concerning this Adv. 1. hereof - of or concerning this; "the twigs hereof are physic" 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. |
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