ProActive Computer Finalizes Acquisition of Coastal Holdings, Inc. Will Open Offices in Houston, TX and Montreal, PQ
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23 March 2004, 3:04pm ET
HOUSTON--(BUSINESS WIRE)--March 23, 2004--ProActive Computer Services Inc. (PAVP: Pink Sheets) today is pleased to announce that it has finalized the acquisition of Coastal Holdings, Inc. (CSJJ: Pink Sheets). CSJJ is a debt-free public shell that is in good standing with no past or present legal problems with the SEC. In addition, all transfer and minute book records are up-to-date. Due to these qualities, CSJJ is a prime candidate to attain OTC Bulletin Board status in the near term. In a special meeting of the board of directors, Mr. Andrea Cortellazzi has been appointed the new chairman and CEO of the company. Andrea's goal is to transform CSJJ into a viable holding company that will invest in leading-edge and innovative technologies. CSJJ is in merger and acquisition negotiations with various private and public technology companies. Further details will be released once a binding letter of intent is signed with any of these companies.
Mentioned Last Change
PAVP 0.005 0.0002dollars or (3.84%)
PAVP shareholders will benefit from this acquisition of CSJJ. Shares of CSJJ will be distributed to PAVP shareholders of record as of the close of business on April 9, 2004. PAVP shareholders will receive 1 share of CSJJ common stock for every 100 shares of PAVP common stock owned. There will be no change to PAVP shareholders' positions.
PAVP is in the process of securing leases for company offices in downtown Houston, TX and Montreal, PQ. The addresses of these locations will be released shortly once the contracts have been signed. In addition, PAVP is in negotiations to hire a new Investor Relations firm to strengthen its IR initiative and solidify investor confidence in the company. The firm is a well-respected one with a wealth of experience providing investor relations services to successful OTC companies. The firm will be announced in the next day or so once a legal contract is signed by both parties.
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. More information about potential factors that could affect the company's business and financial results may be obtained by contacting the company at by phone at 514-830-3348. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.
CONTACT: ProActive Computer Services Inc.
Andrea Cortellazzi, 514-830-3348
cortdev@sympatico.ca
SOURCE: ProActive Computer Services Inc.
