Cal-Bay International Opens Escrow for $1.5M Acquisition of 50 Room Hospital Property in British Columbia.SAN DIEGO San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. -- Cal-Bay International, Inc (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBYI) today announced 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. has been opened for the purchase of a $1.5M former Hospital property in British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography , adjacent to the USA/Canadian Border. The Board of Directors of San Diego based Cal-Bay International, Inc today announced the opening of escrow for the purchase of a former 50 room Hospital property in British Columbia, adjacent to the USA and Canadian Borders. Cal-Bay President Roger Pawson commented "The property is in excellent condition and a valuable asset to the Cal-Bay Property Portfolio." Mr. Pawson further added that the Company is in negotiations with an experienced Senior Healthcare Group, that have expressed an interest in an operational partnership venture for the property to be converted to a Senior Healthcare Facility. 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. |
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