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CBAY -- Cal-Bay International, Inc. Com ($0.001)(New)
COMPANY NEWS AND PRESS RELEASES FROM OTHER SOURCES:
Cal-Bay International to Acquire Texas Retail Shopping Center
CARLSBAD, Calif., Jun 28, 2006 (BUSINESS WIRE) -- Cal-Bay International, Inc. (OTCBB:CBAY) announces the company has signed an agreement for the acquisition of a 24,000 square feet shopping center in Dallas, Texas. Cal-Bay's Board of Directors announced the agreement today and commented the facility is in need of restoration but has a significant upside in value. The Center is currently leased at approximately 35% and has a positive cash flow even on such small percentage occupancy. Cal-Bay will own the property outright at closing which will further increase the company's equity in its property portfolio.
Cal-Bay is currently in negotiations for an additional commercial property in the Dallas area, which if successful would increase the company's holdings in Dallas to three commercial properties totaling approximately $3.7M.
FORWARD LOOKING SAFE HARBOR 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. 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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