Coastport Capital Inc.
TSX VENTURE : CPP
FRANKFURT : C1J

Coastport Capital Inc.

March 02, 2010 18:24 ET

Coastport Capital Inc.: $1,683,500 Private Placement Closing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 2, 2010) - David Patterson, President of Coastport Capital Inc. (TSX VENTURE:CPP)(FRANKFURT:C1J), reports that the Company has raised $1,683,500 through the issuance of 13,468,000 Units at a price of $0.125 per Unit.

Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant entitles the holder, on exercise, to purchase one common share at a price of $0.20 until August 25, 2010, and at a price of $0.30 until February 25, 2011. All securities issued in the private placement, including any shares which may be issued upon the exercise of warrants, have a hold period expiring June 26, 2010.

The Company has undertaken to pay finder's fees of 1) $82,509; 2) 659,960 finder's warrants, where each finder's warrant is exercisable into one common share at a price of $0.20 until August 25, 2010 and at a price of $0.30 until February 25, 2011; and 3) 185,000 Units (having the same terms as the units purchased by the private placement investors). All securities issued to the finders, including any shares which may be issued upon the exercise of warrants, have a hold period expiring June 26, 2010.

ON BEHALF OF THE BOARD OF COASTPORT CAPITAL INC.

David Patterson, President

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Contact Information