Coastal Holdings, Inc. Announces Forward Split of Company Stock and Status of OTC Bulletin Board Listing
Posted on: Friday, 5 May 2006, 09:00 CDT
Coastal Holdings, Inc. (OTC: CSJJ) today announced that during a Special Meeting of the Board of Directors the Company approved a 150 for 1 forward split of the Company's common stock.
The Company is filing the necessary information with NASDAQ Market Integrity. Further details with respect to the effective date and shareholder date of record of the forward split will be released following the regulatory approval of the application. Stockholders of record on a specific date, to be determined shortly, will be entitled to one hundred and fifty (150) shares of common stock for each share of common stock held as of the record date.
This forward stock split will enable Coastal Holdings to raise the required capital to close on the acquisition of an OTC-BB listed company. President of the Company's future Audit Committee Jacques Vallee stated: "This acquisition will allow Coastal Holdings to attain OTC Bulletin Board Status immediately, pending legal and regulatory approval of the listing."
For more information please contact CEO Andrea Cortellazzi at (514) 288-9699.
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
Contact: Coastal Holdings, Inc. CEO Andrea Cortellazzi Ph# (514) 288-9699 E-mail: aandre005@sympatico.ca
SOURCE: Coastal Holdings, Inc.
Source: MARKET WIRE
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