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

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To: Jim Bishop who started this subject5/3/2001 10:02:47 PM
From: SSP  Read Replies (2) of 150070
 
CCAA, from today's 8K,



Changes in Control of Registrant

As a result of the transaction reported herein, the principal owners of
Mancini Olive Oil Company, I.M.O.I.L., srl. will acquire controlling interest in
Cala Corporation through the issuance of additional shares as prescribed by the
merger agreement.

Item 2. Acquisition or Disposition of Assets

Cala Corporation and Mancini I.M.O.I.L., Srl Italy, have entered into a
merger acquition agreement where Mancini I.M.O.I.L. will receive $5,000,000.00
worth of restricted shares upon the approval of the shareholders. An inital
payment of 10,000,000 shares have been issued to the Mancini's in January 2001
from shares that were returned to the treasury by Giuseppe Cala in order to
facilitate the merger. The merger also calls for Mancini I.M.O.I.L. to merge
their privately held business, not including the company real estate, with
annual revenues of approximately $20,000,000.00 for the year 2001 under Cala
Corporation. In addition, Mancini will have full control of the Board of
Directors when the merger is finalized. Giuseppe Cala will remain as Chairman
and CEO of the company indefinitely.
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