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[QUOTE]Originally posted by rickpic: [QB] CALI Cali Holdings Inc (OTC BB) 10/26/2005 1:29:46 PM ET Realtime Quote $0.00 UNCH UNCH Refresh Quote Press Release for Cali Holdings Inc CALI Holdings, Inc. Signs Definitive Agreement with Marine Exploration Company 10/20/2005 9:20:01 AM ORLANDO, Fla., Oct 20, 2005 (BUSINESS WIRE) -- CALI Holdings, Inc. ( CALI ) announced today that it executed and closed under a definitive agreement with Sovereign Exploration Associates International Inc. (SEAI), a marine exploration company headquartered in Pennsylvania. SEAI, a privately held company, was recently formed through the merger of Sea Research, Inc., and Artifact Recovery & Conservation, Inc. As previously announced, CALI Holdings decided to strategically focus its business efforts on financing the recovery of shipwrecks that have cargo of historic, archeological and intrinsic value. SEAI brings executive management, skilled recovery teams, equipment and agreements for twelve (12) sites containing over 15 ships of historic, archeological and intrinsic value. CALI Holdings has applied to change its name to Sovereign Exploration Associates International Inc. The agreement involved the exchange of SEAI stock for 90% of CALI stock and pursuant thereto SEAI became a wholly-owned subsidiary of CALI. The new management team will be comprised of key individuals from SEAI. Robert Baca and Curtis Sprouse of SEAI will assume the CEO and COO positions effective immediately. SEAI's web site is under development. Future announcements on the SEAI web site will address current site operations, artifacts recovered to date and future projects. About CALI Holdings dba Sovereign Exploration Associates International, Inc. CALI Holdings doing business as Sovereign Exploration Associates International, Inc. is a Business Development Company under the Investment Act of 1940 undertaking shipwreck exploration and recovery initiatives. [/QB][/QUOTE]
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