SOURCE: Coastal Capital Acquisition Corp.

June 15, 2009 16:00 ET

Coastal Capital Acquisition Corporation Announces Management and Board of Director Changes

ATLANTA, GA--(Marketwire - June 15, 2009) - Coastal Capital Acquisition Corp. (PINKSHEETS: CCAJ) has announced that its board of directors has appointed Tracy Anderson to the board of directors as President and CEO of Coastal Capital Acquisition Corporation. Below find Mr. Anderson's biography. Mr. Anderson then accepted the resignations of Mr. Francis Manzo, Mr. Paul Joseph, and Mr. Wayne Pederson at which time Mr. Anderson then appointed Mr. Greg Pasco as director, leaving one seat open for a later appointment. Mr. Pasco's bio is also below.

Mr. Anderson, Coastal Capital Acquisition Corp.'s President and CEO, commented on the corporate action taken: "I would like to take this time to say I appreciate the time, work and effort that Mr. Manzo, Mr. Joseph, and Mr. Pederson have put into Coastal Capital Acquisition Corporation, and I look forward to finishing what they have started. With that said I would like to report that the company and or its subsidiary Coastal Capital Consulting are in ongoing negotiations with several merger candidates and have discontinued negotiations with others. I expect to be able to announce our first closed merger within the next ten days and certain other projects shortly thereafter."

About Coastal Capital Acquisition Corporation

Coastal Capital Acquisition Corp. is a development stage company, which operates as a consulting company. We acquire controlling and or minimal interests in development and startup stage businesses. We then assist those businesses and or target companies in the development and implementation of their specific business models. We also provide solutions to operating companies looking to build corporate infrastructure, such as management teams, qualified sales and marketing departments, information technology, and or finance business development.

Our goal is to build long lasting strategic relationships with our target businesses and companies to assist them in evaluating, structuring, and negotiating joint ventures, strategic alliances, joint marketing agreements and other corporate transactions, by providing advice relating to corporate finance, financial reporting, and accounting operations.

Mr. Tracy Anderson has established an impressive career niche in the medical market by integrating his expertise as a skilled surgical technician with his corporate experience. A 1981 graduate of the University of Georgia, Mr. Anderson began working in the medical industry as a Cardiopulmonary Systems Specialist with Baxter Healthcare. After Baxter, he helped develop two intraocular lens distributorships, loptex Inc. and Chiron, from the ground up. In 2002, Mr. Anderson founded Atlanta based T2MED, Inc., one of the Southeast's most innovative private companies in the growing spinal device market. Throughout his career, Mr. Anderson has partnered with some of the medical industry's top experts in the areas of cardiovascular surgery, ophthalmic surgery and neurosurgery. He is a member of several professional organizations and advisory boards including the Advisory Committee for Surgical Technology at Gwinnett Tech in Lawrenceville, Georgia.

Mr. Greg Pasco has held various management positions in the IT sector for over 25 years, most recently Area Vice President for Emprisa Networks, who were recently purchased by BMC Software. Mr. Pasco was responsible for all Sales and Professional Services for the western United States as well as personally landing many flagship accounts including: State of California, Intel Corporation, Time Warner, CompuCom, The Houston School District, Verizon and VISA to name a few. Prior to that, he was the Western Region Director for ION Networks amassing some notable new clients in SBC, Qwest, MCI and American Express. A 1980 graduate of the University of Maryland Mr. Pasco makes his home in Parker, Colorado.

Forward-Looking Statements:

This report contains forward-looking statements, including the use of the words "expect," "anticipate," "estimate," "project," "forecast," "outlook," "target," "objective," "plan," "goal," "pursue," "on track," and similar expressions. These forward-looking statements involve risks and uncertainties. Factors that could cause actual results to differ materially from those predicted in any such forward-looking statements include our ability to continue to lower our costs, our timely development and customers' acceptance of our products, including acceptance by key customers, pricing pressures, rapid technological changes in the industry, increased competition, our ability to attract and retain qualified personnel, our ability to identify and successfully consummate future acquisitions; adverse changes in customer order patterns, adverse changes in general economic conditions in the U.S and internationally, risks associated with foreign operations and political and economic uncertainties associated with current world events.

Contact Information

  • Contact:
    Richard Kravets
    215) 490-4521