Cal-Bay International in Negotiation for Purchase of 40 Residential Rental Properties in Midwest.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. -- The Board of Directors of San Diego-based Cal-Bay International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CBAY) today announced the Company was in the final stages of negotiations for the purchase of 40 Residential Rental properties in the Midwest Midwest or Middle West, region of the United States centered on the western Great Lakes and the upper-middle Mississippi valley. It is a somewhat imprecise term that has been applied to the northern section of the land between the Appalachians USA. Cal-Bay's International's Chief Operations Officer announced the news after the Board of Directors confirmed the company was in the final stages of negotiations to acquire the 40 residential single family homes. The terms of the contract require non disclosure at this time, but the company expects the deal to be completed during the first quarter of 2006. The properties are all single family homes and are all currently rented. Upon successful closing of the deal, this would add an additional $450,000+ per year to the company's revenue stream, and also increase the company's property portfolio by over $4,000,000. The company is currently in negotiations for several additional properties. 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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