CFNI - CineMaya Media Group to Complete Merger With Caltas Fitness
Caltas Fitness, Inc. (PINKSHEETS: CFNI) today announced it has formally executed its agreement to merge with its new subsidiary CineMaya Media Group (CMG). The transaction will leave CMG as the surviving entity and is expected to become effective during the week of February 5, 2007 when the company officially begins trading as CineMaya Media Group under a new ticker symbol.
CMG's primary business concentration will continue in the areas of media, entertainment, and advertising, where it is considered to be the leading firm with integrated businesses serving the South Asian market in North America.
CineMaya Media Group also announced the appointment of Sunil K. Hali, as Chairman and CEO, and Nayan Padrai as the President. Additional appointments for officers and board members will be announced in the coming weeks.
Interested parties should visit the corporate website, www.cinemayamedia.com, to obtain more information on the company.
Safe Harbor Statement:
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain of the statements contained herein, which are not of historical facts, are forward-looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward-looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the Company is detailed from time to time in the Company's reports filed with Pink Sheets.
Source: Market Wire (January 30, 2007 - 9:25 AM EST)
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