TGL WHAAAAAAAT! Alerts, thoughts, discussion. Message Board

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Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion.

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To: SSP who wrote (58543)	8/9/2000 9:18:12 AM
From: Due Diligence	Read Replies (1) of 150070

CCAA news of closing date on acquisition. (COMTEX) B: Cala Corporation Close to Finalizing Costanzo Industries B: Cala Corporation Close to Finalizing Costanzo Industries Purchase OKLAHOMA CITY, Aug 9, 2000 /PRNewswire via COMTEX/ -- Joseph Cala, Chairman and CEO of Cala Corporation (OTC Bulletin Board: CCAA) today announced that it has agreed to set October 1, 2000 as the closing date for the purchase of Costanzo Industries of Italy. It is expected that once the sale is finalized, Costanzo will relocate to new offices and change its name to Cala Construction. Cala Corporation is in the process of providing financial assurances that it will fund $2.6 million at closing. These assurances will be provided in the form of bank letter or investment banking letter. The $2.6 million cost continues to be negotiated and is subject to adjustment at closing. Financing for the purchase of Costanzo is expected to come from U.S. sources. Costanzo Industries has $250 million in government contracts scheduled to begin during the next three years. Mr. Cala also reported that Company efforts to gain recognition in Italy for its stock and to facilitate trading there are being supported by banks throughout Italy. Dr. Scarlata of the Borsa Milan Bank is heading up this campaign. The Borsa Milan Bank has offices in every major city in Italy. 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 CONTACT: Cala Corporation, 405-235-4960, or info@calacorporation.com (CCAA) prnewswire.com (C) 2000 PR Newswire. All rights reserved. -0- KEYWORD: Oklahoma Italy INDUSTRY KEYWORD: LEI SUBJECT CODE: TNM OTC * end of story *

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