Cal-Bay International Retires 11.25 Million Shares of Common Stock in the First Round of the Company\'s Stock Cancellation Program
Tuesday November 7, 9:01 am ET
CARLSBAD, Calif.--(BUSINESS WIRE)--Cal-Bay International, Inc. (OTCBB:CBAY - News) Announced Cal-Bay\'s Board of Directors announced the company had submitted 11.25 Million shares of Cal-Bay common stock to the company\'s transfer agent for cancellation.
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Cal-Bay\'s Board of Directors commented, "This is the first batch of shares to be cancelled within the program and other cancellations are due in the very near future."
Cal-Bay implemented the program in an effort to reduce the "short position" in the company\'s tradable stock.
Cal-Bay has implemented a mandatory certificate exchange of the common and Preferred "B" shares as an additional measure to help combat the "short position."
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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.
Contact:
Cal-Bay International, Inc.
Tim Garlin, Public Relations, 760-930-0100
Fax: 760-930-0200
IR@calbayinternational.com
www.calbayinternational.com