SOURCE: Coastal Capital Acquisition Corp.

July 11, 2012 09:41 ET

Coastal Capital Acquisition Corp. Begins Disclosure Process

NAPLES, FL--(Marketwire - Jul 11, 2012) -  Coastal Capital Acquisition Corp. (PINKSHEETS: CCAJ) (the "Company"), announced today that it has begun the process to implement more transparent business and financial disclosures of the Company through OTC Markets.

The Company will apply and pay the appropriate fees to the OTC Markets Disclosure and News Service today to begin the process and ultimately improve the Company's "Tier" position. "The Company has been updating its internal accounting systems through the efforts of our new Chief Financial Officer, Daniel F. Governile," stated Tony DiNorcia, President of the Company. "Due to Dan's efforts we are now in a position to submit our financials and business disclosure documents to OTC Markets through their OTC Markets Disclosure and News Service."

"The documents necessary to bring the Company current with the OTC Markets Tier system are ready for submittal and will be available on the Company web site ( under the investor section over the next few days," added Mr. Governile. "Our goal is to be current in our reporting responsibilities with the OTC Markets and therefore provide the information necessary for current and future shareholders to make informed decisions about their investment in CCAJ."

Finally, Mr. Governile added, "We have included in our financials, all activity since December 31, 2004 in an effort to bring all investors up to date with the history of the Company since its last 10K filed in 2005 for the Company's December 31, 2004 year end. That information includes balance sheets, income statements, statements of cash flows and changes in equity positions."

"We have now organized ourselves to respond to investor inquiries and have developed the systems to more effectively disclose the Company's financial and business activities," Mr. DiNorcia concluded, "We encourage all investors to visit our facilities if you are in the beautiful Naples, Florida area, we are quite proud of our to-date accomplishments and look forward to sharing our successes with our shareholders."

Forward-Looking Statements

This press release and the statements of representatives of Coastal Capital Acquisition Corp. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "projects," "may," "could" "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with the Securities and Exchange Commission ( All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.

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Contact Information

  • Contact:
    Daniel F. Governile
    Chief Financial Officer

    Coastal Capital Acquisition Corp & Earth Surfaces of America