Coastport Capital Inc.

Coastport Capital Inc.

November 05, 2009 17:15 ET

Coastport Capital Inc.: Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 5, 2009) - David Patterson, President of Coastport Capital Inc. (TSX VENTURE:CPP)(FRANKFURT:C1J), reports that the Company continues to evaluate, for acquisition, potential producing oil and gas assets and Crown land sale postings in the Western Canadian Sedimentary Basin, an area that Management believes provides a unique investment opportunity at this time. These efforts have been strengthened through the recent addition of Mr. Malcolm Todd and Mr. James Ladner to the Company's Board of Directors.

Mr. Todd brings over 20 years of experience in the natural resource sector in Western Canada through his roles as President of Prairie Exploration Inc. and Prairie Pacific Energy Corporation. Mr. Ladner is a financial industry consultant in Switzerland with extensive experience in finance and a specialization in the oil and gas industry.

In addition, the Company will not be proceeding with the two old for one new share consolidation approved at its annual general meeting. The Company has granted 3,898,000 incentive stock options to certain of its directors, officers, employees, and consultants exercisable at a price of $0.10 per share for a period of one year.

The Company has also engaged Syndicated Capital Corp. ("SCC") of Vancouver, British Columbia, to provide investor relations services to the Company. The Company has agreed to pay SCC $5,000 per month, for an initial term of 6 months. Mr. A. Salman Jamal of Vancouver, British Columbia is the principal of SCC. The Company has granted 200,000 incentive stock options to SCC exercisable at a price of $0.10 per common share for a period of one year. The agreement is subject to the approval of the TSX Venture Exchange.


David Patterson, President

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