Coastal to Begin Trading on NASDAQ as "COA"
25 October 2012 - 8:36AM
The common stock of Coastal Contacts Inc. ("Coastal") (TSX:COA)
(Nasdaq:COA) (Stockholm:COA.ST), one of the world's largest online
retailers of vision care products, was approved for listing on the
NASDAQ Capital Market under the symbol "COA." Coastal expects that
its shares will begin trading on Thursday, October 25, 2012. The
stock will continue to trade on the Toronto Stock Exchange and the
Nasdaq OMX Stockholm exchange.
"Our listing on the NASDAQ represents another important
milestone for our company," said Roger Hardy, Coastal's Founder and
CEO. "The decision to obtain a NASDAQ listing was taken to address
the demand expressed by U.S. based investors and fund managers that
want to participate in the growth of Coastal but are only able to
own U.S. listed stocks."
About Coastal Contacts
Coastal Contacts, Inc. is one of the largest online retailers of
vision care products in the world. Coastal empowers customers to
easily browse, try on and buy eyewear—saving time, money and
sanity. With every pair of qualifying frames purchased, Coastal
donates a pair to someone in need through its Change the View
project. Founded in 2000, Coastal designs, produces and distributes
the largest selection of glasses and contact lenses on the
Internet, including a unique combination of designer glasses,
contact lenses, sunglasses, and vision care accessories. Coastal
serves customers in more than 150 countries through the Coastal
Contacts family of websites including: Coastal.com,
ClearlyContacts.ca, Lensway.com, Lensway.co.uk, Lensway.se,
Lensway.com.br, ClearlyContacts.com.au, ClearlyContacts.co.nz,
Contactsan.com, and Coastallens.com.
Cautionary Note Regarding Forward-Looking Statements
This News Release may contain "forward-looking statements" as
defined in the U.S. Securities Act of 1933, the U.S. Securities
Exchange Act of 1934, the Private Securities Litigation Reform Act
of 1995 and applicable Canadian securities legislation concerning
the business, operations and financial performance and condition of
Coastal. Statements that are not 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. Examples of such forward-looking statements include
statements relating to: Coastal's perception of the contact lens
and eyeglasses industry or market and anticipated trends in that
market in any of the countries in which Coastal does business; its
anticipated ability to procure products and supplies, or the terms
under which it procures products and supplies; Coastal's
anticipated business operations, inventory levels, ability to
handle specific order and call volumes, ability to fill and ship
orders in a timely manner, ability to achieve greater marketing
efficiency or similar statements; ability to increase its
production; plans for capital expenditure plans; relationships with
suppliers, anticipated results of operations, including but not
limited to anticipated sales, revenues, earnings, tax benefits or
similar matters; the effects of seasonality; sufficiency of cash
flows; and Coastal's perceptions regarding volatility in and impact
of foreign currency exchange rates.
Forward-looking statements are based on the then current
expectations, beliefs, assumptions, estimates and forecasts about
Coastal's business and the industry and markets in which it
operates. Forward-looking statements are not guarantees of future
performance and involve risks, uncertainties and assumptions which
are difficult to predict. Assumptions underlying Coastal's
expectations regarding forward-looking statements or information
contained herein include, among others: that Coastal will maintain
its position in the markets it operates in and will expand into
other markets in a favorable manner; that it will have sufficient
capital to continue making investments in advertising, inventory,
property, equipment and leasehold improvements as well as personnel
to support its business and new product lines, including its
eyeglasses business; that Coastal will be able to generate and
maintain sufficient cash flows to support its operations; that it
will be successful in complying with industry regulatory
requirements in British Columbia and other jurisdictions; that
Coastal will be able to establish and/or maintain necessary
relationships with suppliers; and that it will retain key
personnel. The foregoing list of assumptions is not exhaustive.
Readers are cautioned that forward-looking statements or
information are only predictions, and that Coastal's actual future
results or performance may be materially different due to a number
of factors. These factors include, but are not limited to:
changes in the market; potential downturns in economic conditions;
consumer credit risk; Coastal's ability to implement its business
strategies; competition; limited suppliers; inventory risk;
disruption in our distribution facilities; mergers and
acquisitions; foreign currency exchange rate fluctuations;
regulatory requirements; demand for products Coastal sells;
competition and dependence on the internet as well as those risks
described in the section entitled "Risk Factors" contained in
Coastal's Annual Information Form dated December 14, 2011 available
at www.sedar.com and www.sec.gov.
Although Coastal believes that its plans, intentions and
expectations reflected in or suggested by such forward-looking
statements are reasonable, actual results could differ materially
from a projection or assumption in any of its forward-looking
statements. Coastal's future financial condition and results of
operations, as well as any forward-looking statements, are subject
to change and inherent risks and uncertainties. The forward-looking
statements contained herein are made only as of the date hereof.
Coastal does not have, or undertake, any obligation to update or
revise any forward-looking statements whether as a result of new
information, subsequent events or otherwise, unless otherwise
required by law.
CONTACT: For Further Information:
Terry Vanderkruyk
Vice President, Corporate Development
Coastal Contacts Inc.
604.676.4498
terryv@coastal.com
or
Liolios Group Inc.
Scott Liolios or Cody Slach
949.574.3860
COA@liolios.com