CCAA news
OKLAHOMA CITY, June 29 /PRNewswire/ -- Joseph Cala, Chairman and CEO of
Cala Corporation (OTC Bulletin Board: CCAA), today announced that through a
combination of its previously announced stock buy-back program, the voluntary
return of previously issued shares, and the cancellation of certain shares, a
total of 9,700,000 shares have been recovered and returned to the Cala
Corporation treasury.
Included in the total of recovered shares, were those voluntarily returned
after the Cascina project ended. Cala Corporation terminated the Cascina
project after deciding that a single restaurant in San Francisco did not fit
the newly defined Cala Corporation expansion profile. Also, a number of
shares were returned as a result of the Company's recently announced buy-back
program, while others, were cancelled.
Mr. Cala, speaking about the recent trading activity of Cala Corporation
stock, emphasized that the volume of shares traded per day, is up 700%, over
1999 levels. He also added that eighteen market makers were currently trading
Cala Corporation stock.
About Cala Corporation. Cala Corporation is a developer of international
hospitality businesses with a corporate emphasis on the ownership, operation
and management of hotels, resorts and casinos. Cala Corporation is currently
developing the Undersea Resort and Hotel project with proposed locations
throughout the world.
The information in this news release includes certain forward-looking
statements as defined in the "Safe Harbor" provision of the Private Securities
Litigation Reform Act of 1995. These statements are based upon assumptions
that are subject to significant risks and uncertainties. Although the Company
believes that the expectations reflected in forward-looking statements are
reasonable, it can give no assurance that the expectations of any of its
forward-looking statements will prove to be correct. This press release was
prepared on behalf of the Board of Directors, which accepts full
responsibility for its contents.
For further information on Cala Corporation, please contact 405-235-4960
or e-mail info@calacorporation.com .
SOURCE Cala Corporation
-0- 06/29/2000
/CONTACT: Cala Corporation, 405-235-4960, or info@calacorporation.com/
/Web site: calacorporation.com
(CCAA)
CO: Cala Corporation
ST: Oklahoma
IN: LEI
SU:
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