HOUSTON, Aug. 3, 2005 (PRIMEZONE) -- Coastal Holdings, Inc. (Pink Sheets:CSJJ) today announced that it has entered negotiations to acquire an interest in two biotechnology firms based in Tel Aviv, Israel. These biotechnology firms offer investors high-growth and profit potential due to their innovative and scientifically proven products, which are supported by strong management teams and leading specialists in this field. This investment by Coastal Holdings will be utilized to fund the current product development process of these firms and enable them to expand their operations into the U.S., particularly into the San Diego and Los Angeles area, for Research and Testing of their products. CEO Andrea Cortellazzi has spoken with the principals of the two firms and anticipates signing a memorandum of understanding with one of them by the end of this week.
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.