NEW YORK, Dec. 23, 2013 (GLOBE NEWSWIRE) -- Bay Acquisition Corp. (OTCBB:SLGI) filed a lawsuit in Supreme Court of the State of New York against Meyers Associates, L.P. for Breach of Contract, Tortuous Interference with Contractual Relationships, Breach of Implied Covenant of Good Faith and Fair Dealing, Fraud, Constructive Fraud, Negligent Misrepresentation, Breach of Fiduciary Duty, Specific Performance, in the amount exceeding Ten Million ($10,000,000) Dollars.

Over $250,000 of capital raised for Bay Acquisition's business operations is being held in escrow by the refusal of Mr. Raana Kahn, Executive Vice President of Meyers Associates, to release the funds to the Company or to release them back to the investors. These funds are critical to Bay Acquisition's continued operations of its website Goozex.com and VGFive.com.

For more information please contact Paul Goodman of Cyruli Shanks Hart & Zizmor, LLP at (212) 661-6800.

Forward-Looking Statements

This release contains certain "forward-looking statements" relating to the business of the Company. These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Further the forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Such forward-looking statements include, among other things, regulatory incentives, the development of new business opportunities, and projected costs, revenue, profits and results of operations. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with new projects and development stage companies. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that any such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our annual report on Form 10-K for the most recent fiscal year, our quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the Securities and Exchange Commission and available on its website (www.sec.gov).