VANCOUVER, British Columbia, July 16, 2010 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. (TSX:COA) (Stockholm:COA) (the "Company" or "Coastal") is pleased to announce today that Mr. Tushar Shah has been appointed to the Company's Board of Directors. Mr. Shah is a Managing Partner of Kinderhook Partners. Prior to Kinderhook Partners, Mr. Shah was a Principal at Geocapital Partners, a venture capital firm and a strategy consultant with the Monitor Group, where he led a range of projects in New York, London and Tel Aviv. Mr. Shah is a CFA charterholder and received a Bachelor of Arts degree in Economics from Williams College. Kinderhook Partners is a U.S. based investment partnership founded in 2003. Kinderhook focuses on making long-term investments primarily in small cap public companies. Kinderhook has a concentrated portfolio of investments in companies they believe have the potential to grow substantially over at least a three to five year period and in which the interests of management are closely aligned with the interests of shareholders. Mr. Roger Hardy, Coastal's President and Chief Executive Officer commented, "We are pleased to have Tushar join Coastal's Board at this important time in our development. His experience helping guide high growth companies to market leadership positions will be of great value to all shareholders. We have known Tushar for several years and he has an excellent understanding of our business." About Coastal Contacts: Coastal Contacts Inc. is the world's leading direct-to-consumer vision products company which designs, produces and distributes a diversified offering of contact lenses and eyeglasses. Coastal's unique combination of branded and private label products represent quality, value and above all, service. Coastal sells into more than 150 countries through proprietary web properties which reflect the culture and consumer preference of the target market. As markets for eyeglasses and contact lenses evolve, Coastal is positioned to become the vision product consumer's retailer of choice owing to its compelling value proposition combining value and service. A leader in many of its markets, Coastal is rapidly advancing toward its goal of becoming the "World's Optical Store". Forward Looking Statements All statements made in this news release, other than statements of historical fact, are forward-looking statements. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "goal", "target", "should," "likely," "potential," "continue," "project," "forecast," "prospects," and similar expressions typically are used to identify forward-looking statements. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about our business and the industry and markets in which we operate. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Persons reading this news release are cautioned that forward-looking statements or information are only predictions, and that our actual future results or performance may be materially different due to a number of factors. Reference should also be made to the section entitled "Risk Factors" contained in our most recently filed Annual Information Form dated January 29, 2010 and in the NASDAQ OMX Stockholm listing prospectus dated October 14, 2009, as filed on Sedar and with the Swedish Financial Supervisory Authority, for a detailed description of the risks and uncertainties relating to our business. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. These forward-looking statements are made as of the date of this news release and we expressly disclaim any intent or obligation to update these forward-looking statements, unless we specifically state otherwise and except as required by applicable law. CONTACT: Coastal Contacts Inc. Terry Vanderkruyk, Vice President, Corporate Development 604.676.4498 terryv@coastalcontacts.com
Coastal Contacts Announces Appointment of Tushar Shah to Board of Directors
| Quelle: Coastal Contacts Inc