Cal-Bay International Acquires $4M Single Family Home Development Parcel in Charlotte County Florida.CARLSBAD, Calif. -- Cal-Bay International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBAY) announced the acquisition of a $4M residential property parcel comprised of 85 Single Family Residence home lots in Charlotte County, Fla. Cal-Bay's public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most department made the announcement today that the company had entered into a binding agreement for purchase of the fully entitled en·ti·tle tr.v. en·ti·tled, en·ti·tling, en·ti·tles 1. To give a name or title to. 2. To furnish with a right or claim to something: land parcel in Charlotte County, Fla., to develop 85 single family custom homes on the property. The property received an appraised land value of approximately $4M. The deal is expected to close this week. Cal-Bay's public relations department made the announcement today after the signing of a binding Letter of Intent between the parties. Cal-Bay's President commented: "The company plans to construct several Model Homes on the property and offer either completed custom homes or single lots with an inclusive COBS COBS Colorado Outward Bound School COBS Consistent Overhead Byte Stuffing (RS-232 protocol) COBS Command Operating Budget System COBS Change of Body State (psychological and chemical changes in the brain) Homes construction package to prospective buyers." This would potentially add 85 complete owner builder customers to COBS' existing portfolio immediately. The fully completed development is expected to add combined revenues in the region of $20M to both COBS and Cal-Bay over the next two years. Cal-Bay International, Inc.: www.calbayinternational.com Cobs Homes, LTD: www.cobshomes.com Cal-Bay International, Inc. 2111 Palomar Airport Road, Suite 100, Carlsbad, California 92011 Telephone: 760-930-0100 Fax: 760-930-0200 Website: www.calbayinternational.com www.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 a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , 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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