Henderson, NV (PRWEB) October 16, 2008
Cal-Bay International, Inc. (OTC: CBAY) today announced that Cal-Bay International has reached an amicable settlement with one of the company's largest creditors in an out of court settlement agreement, case # 07CC08736.
The settlement includes full relief of the debt to Cal-Bay and the removal of judgments against the company. The agreement also calls for satisfaction of the debt "With Prejudice."
Melinda Rice of Cal-Bay International, Inc. commented that the company's legal counsel reached an amicable settlement of the lawsuit "With Prejudice," ensuring the permanent resolution of the issue.
The settlement terms are to remain confidential but will not result in a new issuance of the company's stock to satisfy the agreement.
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.
Source: Cal-Bay International, Inc.
Dale Baeten for Cal-Bay International, Inc.
PH: (920) 418-0153
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