HOUSTON, July 13, 2004 (PRIMEZONE) -- Coastal Holdings, Inc. (Pink Sheets:CSJJ) is pleased to announce that the negotiations to acquire a 35-45% equity interest in Biomedicom Inc. (www.biomedicom.com) are proceeding as scheduled. Both parties expect a formal contract to be signed that outlines the terms of the investment in short order.
CSJJ would like to confirm that CEO Andrea Cortellazzi will be attending the next Jerusalem Investment Forum (JIF) invitation-only luncheon for accredited investors and start up companies, to be held at the Tel Aviv Hilton in a couple of weeks. This conference will expose CSJJ to potential acquisition targets, in effect innovative Israeli-based nanotechnology and biotechnology firms. The Company is optimistic that this conference will be as successful as the last one, which resulted in the signing of an investment contract with Vetdermal Systems Limited.
CSJJ is also pleased to announce that it is presently in negotiations with another Israeli-based biotechnology company. The draft proposal for an equity investment in this company has already been accepted by both parties. The formal signing of the contract should be completed at the JIF Tel Aviv conference.
For more information on CSJJ, please contact CEO Andrea Cortellazzi at (647) 886-2703 or visit the Company website at www.coastalholdings.com.
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.