Cal-Bay International Signs Letter of Intent to Acquire $400M Louisiana Residential & Retail Shopping Center Development on Planned Golf Course Community.CARLSBAD, Calif. -- Cal-Bay International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBAY) announced the Company recently signed a Letter of Intent to acquire a $400M residential & Retail Shopping Center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into development property on a planned Golf course community in southern Louisiana. Cal-Bay's Board of Directors today announced the company's attorneys were completing the final stages of the due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. process for the multiple phase residential and Retail Shopping Center development. The project comprises of 600-1000 single family homes and a 10 acre Retail Shopping Center development along with a six acre recreational area, adjacent to a newly planned Golf course structured community. Cal-Bay CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Roger Pawson commented that the development property is fully entitled, the engineering process is complete and the building permits have been approved. The early phases are already under construction. Cal-Bay anticipates the closing of the acquisition within the next 30 days subject to satisfactory due diligence results from the company's legal team. Roger Pawson stated, "This is Cal-Bay's largest single acquisition and will be developed by Cal-Bay subsidiary COBS Homes LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability . The entire development time to completion is projected to be 3 years, and based on current market valuations for the area the property is expected to generate $400M in sales and net in excess of $100M to the company. This project will also create a significant number of new jobs in the Louisiana area." Roger Pawson further stated, "The Company is currently in negotiations with one the nation's largest retail construction product suppliers for this project and funding for the project has been secured." The terms and location of the acquisition are not available for disclosure at this time under the terms of the NDA (Non Disclosure Agreement) An agreement signed between two parties that have to disclose confidential information to each other in order to do business. In general, the NDA states why the information is being divulged and stipulates that it cannot be used for any ; Cal-Bay's Letter of Intent secures this project by way of the acquisition of an existing Louisiana based development company. 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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