Cal-Bay International Accelerates Foreign Delisting Program.CARLSBAD, Calif. -- The Board of Directors of Cal-Bay International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBAY) today announced the company's intent to accelerate the delisting Delisting When the stock of a company is removed from a stock exchange. Notes: Reasons for delisting include violating regulations and/or failure to meet financial specifications set out by the stock exchange. of Cal-Bay Securities offerings on Foreign Exchanges. Cal-Bay International today announced its intention to accelerate file applications for revocation The recall of some power or authority that has been granted. Revocation by the act of a party is intentional and voluntary, such as when a person cancels a Power of Attorney that he has given or a will that he has written. of its securities listings and admissions to all foreign exchanges. The removal is expected to be finalized as soon as possible, upon completion of the process for each exchange. Cal-Bay has made this decision on the basis that for some time there has not been a significant institutional shareholder base in the European marketplace. Roger Pawson further commented, "We feel there is a virtually unlimited opportunity for expansion in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , and we intend to increase market share and awareness on a regular basis. As a Company we have grown substantially in the last year and a half and have significantly increased our assets, equity and corporate awareness." After the effective date of the delisting it will no longer be possible to trade Cal-Bay stock on International Stock Exchanges. However, ordinary shares will continue to be listed on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. (OTCBB:CBAY). CALBAYINTERNATIONAL.com COBSHOMES.com 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 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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