HOUSTON, Nov. 15, 2004 (PRIMEZONE) -- Coastal Holdings, Inc. (Pink Sheets:CSJJ), a leading edge global technology holding company, announced today that its legal department has initiated a thorough review of the Investment Agreement signed on November 3, 2004, to acquire an equity interest in Efoora, Inc. CSJJ has decided that before proceeding with the initial investment tranche as per the Investment Agreement, further due diligence with respect to Efoora, Inc.'s share structure and return to CSJJ is warranted. Upon completion of this review a final decision on this investment will be released.
CEO Andrea Cortellazzi stated, "This review is being done to ensure that this investment is in the best interests of the Company and will enhance shareholder value."
For more information please contact CEO Andrea Cortellazzi at (514) 288-9699 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.