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Coastal Holdings, Inc. Announces Sale of Control Position to Norwa Water and Appointment of Mr. Allain Barriere as Chief Financial Officer
Tuesday May 22, 12:28 pm ET
Company Intends to File Name Change Documents this Week
HOUSTON, TX, May 22 /PRNewswire-FirstCall/ - Coastal Holdings, Inc. (PINKSHEETS: COHG - News) today announced the sale of the control block owned by Andrea Cortellazzi et al. to Norwa Water, a Canadian Corporation specialized in water distribution and bottling; and the appointment of Mr. Allain Barriere as Chief Financial Officer.
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Mr. Horace A. Sirois, Coastal Holdings' recently appointed CEO and acting President and CEO of the "World Business Development Bureau" (WBDB - www.wbdb.biz), stated the following: "Mr. Barriere and I have been working diligently for the past week, with the involved parties and partners, to reorganize the Company and unify the group under one main banner, in order to achieve our goal to become one of the best-selling brands of bottled water in the Asia-Pacific region."
Mr. Allain Barriere, President of Norwa Water, indicated the following: "I consider my group privileged to have the opportunity to become a partner in Mr. Sirois' projects in China. Our immediate goal is to structure the Company to allow WBDB, The Chinese Partners and the Water manufacturer to all become partners in the new Venture and to sign partnership agreements to this effect."
The Company is also pleased to announce that it will file the necessary documents this week in order to file for name change, new CUSIP number and trading symbol.
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.
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Source: Coastal Holdings, Inc
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