Cal-Bay International, Inc. Announces Changes to Board of Directors
March 30 2011 - 9:15AM
Marketwired
Cal-Bay International, Inc. (PINKSHEETS: CBYI)
today confirmed the
appointment of Kevin Denniston as Company President and CEO
simultaneous with the resignation of Shaun Bailey.
The company today announced the following changes to the Board
of Directors.
Kevin Denniston is now Company President and CEO. Shaun Bailey
has resigned from the board of Directors and is now contracted as a
Real Estate consultant to the company for the next 12 months.
Mr. Denniston commented the Company requires some additional
changes in Management to smoothly effect the additional changes
required from a Real Estate holdings company to the "Green"
Alternative Fuels and Energy sector. This transition will require
the acquisition of Commercial Real Estate and Industrial land to
develop the commercial facilities for the "Green" development
overseen by Mr. Bailey.
Mr. Denniston further commented the company has retained the Las
Vegas office and all corporate contact information remains the
same. The current Website will remain operational during
reconstruction and is anticipated to be fully revamped and launched
by Mid April. www.calbayinternational.com
Outgoing President Shaun Bailey made the
following statement:
"Dear Shareholders: It is with both regret and anticipation that
I submit this letter of resignation, effective immediately. I have
decided to take this time to evaluate my current goals and
investigate new opportunities. During my time with Cal-Bay, I have
gained invaluable experience in public markets and private
investments. We have seen a period of chaos in real estate become a
much more manageable environment of risk and reward. While my own
priorities lead me elsewhere, this is an exciting time for Cal-Bay
International. The team that will replace me has the resources,
experience, and capital to engender great success for this company.
It has been a genuine pleasure working for the shareholders of
Cal-Bay during these past three years. I wish all of you and those
at Cal-Bay International, Inc. every success in all your
endeavors."
Sincerely:
Shaun Bailey
Safe Harbor Statement: This release
includes forward-looking statements intended to qualify for the
safe harbor from liability established by the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
generally can be identified by phrases such as CBYI or its
management "believes," "expects," "anticipates," "foresees,"
"forecasts," "estimates" or other words or phrases of similar
import. Similarly, statements herein that describe the Company's
business strategy, outlook, objectives, plans, intentions or goals
also are forward-looking statements. All such forward-looking
statements are subject to certain risks and uncertainties that
could cause actual results to differ materially from those in
forward-looking statements.
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