Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : TGL WHAAAAAAAT! Alerts, thoughts, discussion. -- Ignore unavailable to you. Want to Upgrade?

To: SSP who wrote (90843)	8/28/2001 3:23:14 AM
From: Jim Bishop	Respond to of 150070

Gee I'm only 13,158 posts behind, on my second most favorite soap: ragingbull.lycos.com But then again, LOL... nothing really changes anyways. Maybe another week or two, and I'll get back into this stuff.

To: SSP who wrote (90843)	8/28/2001 9:05:50 AM
From: Due Diligence	Read Replies (1) \| Respond to of 150070

New Joint Venture finalized for CCAA: (COMTEX) B: Cala Corporation Completes Joint Venture Agreement With EXTR B: Cala Corporation Completes Joint Venture Agreement With EXTRA Srl of Italy a Top Quality Olive Oil Company SAN FRANCISCO, Aug 28, 2001 (BUSINESS WIRE) -- The Cala Corporation (OTCBB:CCAA) today announced a joint venture agreement that has been finalized with EXTRA Srl of Italy, a top quality extra virgin olive oil company with the finest partners in the industry APOL and Bonolio. The APOL joint venture is a continuation of the corporations merger and acquisition program. The Cala Corporation will control a 51% interest in EXTRA Srl of Italy which will result an additional US$8 million in revenues for this current fiscal year. The Cala Corporation will be in charge to develop and market the olive oil through the brokers and distributors in the United States, Canada, and Japan. APOL will enforce the European quality standards, buy the product direct from the farmers, and finance the public relation costs. Bonolio will be the turnkey product. APOL olive oil is sold as a high quality wholesale product that will be labeled for the retail industry under different labeling, while Mancini I.M.O.I.L. is a retail brand name product in Europe and currently sold institutionally in the United States. Revenues for EXTRA Srl under GAAP rules were $4.5M for the year 1999, $7.2M for the year 2000, and for the first two quarters of 2001 $4M. The Cala Corporation will be required to pay EXTRA Srl 10,000,000 shares of CCAA restricted stocks. Joseph Cala, Chairman, and CEO of Cala Corporation stated, "EXTRA Srl of Italy has the capacity to produce for our targeted market over 1M bottles of oil with a 25% profit margin because our production price will be on a cost basis." "APOL was founded in 1974 under both the Italian and European Governments to study, develop, create, and market the world's best extra virgin olive oil. APOL with its associates has received hundreds of millions of Euro to succeed in its quest and future grants will be available to the Cala Corporation," stated Dr. Di Benedetti, President of APOL. apol.pa@libero.it The Bono family founded Bonolio in 1934 in the city of Sciacca. Michael Bono with his family are the third generation in producing one of the finest extra virgin olive oil in the world. Bonolio has always passed the stringent highest quality standards that were set by the European Government. At present Bonolio can produce 50,000 bottles per day. www.bonolio.it About Cala Corporation Headquartered in San Jose, Calif., Cala Corporation is a developer of international businesses with a corporate emphasis on Undersea Resort hospitality. Cala Corporation provides over 20 years of experience on doing business globally. The corporation's international infrastructure extends from the United States to Europe and Asia. Under the corporate umbrella is Mancini I.M.O.I.L., which has been producing, and selling olive oil products for over 40 years. Annualized revenues are approximately $16M. $6M of which are realized in the United States. Currently, Mancini olive oil is distributed in the United States by Manzo Foods, Miami, Fla., under the labeling of Genesio that is sold to Romano's Macaroni Grill Restaurants, a division of Brinker International. brinker.com (NYSE:EAT) More information about Mancini I.M.O.I.L. is available at imoil.com. 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 content. CONTACT: Cala Corporation/Mancini Joseph Cala, 408/984-3663 URL: businesswire.com Today's News On The Net - Business Wire's full file on the Internet with Hyperlinks to your home page. Copyright (C) 2001 Business Wire. All rights reserved. -0- KEYWORD: CALIFORNIA INDUSTRY KEYWORD: FOODS/BEVERAGES MERGERS/ACQ SOURCE: Cala Corporation * end of story *