Wednesday, November 09, 2005 11:04 ET
HOUSTON, TX, Nov 09, 2005 (MARKET WIRE via COMTEX) -- Coastal Holdings, Inc. (OTC: CSJJ) is pleased to announce that it has reopened negotiations to acquire an interest in an India-based pharmaceutical firm. Negotiations were at an impasse for the past couple of months due to lack of adequate communication between the firm and Coastal Holdings. However, in the past week, the firm has approached Coastal Holdings with the intent of re-opening negotiations. Coastal Holdings has decided to re-open acquisition negotiations due to the high growth potential of the firm and the fact that it would likely be a profitable addition to the Company's portfolio. The firm is publicly traded and is currently listed on The Stock Exchange, Mumbai (BSE). The firm has experienced strong annual growth in its revenue and profit over the past couple of years, which is due in part to its focus on the rapidly expanding therapeutic segments of the industry such as diabetes. The firm is in the process of expanding its product portfolio and operations overseas in order to consolidate its position as one of the major India-based players in the global pharmaceutical industry.
Coastal Holdings today also announced that it will be releasing news tomorrow on its oil and gas division, specifically with respect to current developments on the Purchase Agreement with BDT Energy Producers Inc. (BDT) to acquire a working interest in a development oil well.
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.
Contact:
Coastal Holdings, Inc.
Andrea Cortellazzi
CEO
Ph# (514) 288-9699
E-mail: aandre005@sympatico.ca
SOURCE: Coastal Holdings, Inc.
mailto:aandre005@sympatico.ca
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