SOURCE: Coastal Capital Acquisition Corp.

December 18, 2008 09:19 ET

Coastal Capital Acquisition Corporation Announces Merger With Energy-Evolution.com, Inc.

COLUMBUS, GA--(Marketwire - December 18, 2008) - Coastal Capital Acquisition Corp. (PINKSHEETS: CCAJ) is pleased to announce the company has signed and executed a definitive merger agreement with Energy-Evolution.com, Inc. The merger is a stock for stock merger and will close on Jan. 14th, 2009. Coastal Capital Acquisition Corporation will create and issue a new class of Preferred C stock which will be exchanged for 100% ownership of Energy-Evolution.com, Inc. and its outstanding stock. Energy-Evolution.com, Inc. is a southwest Florida-based internet/bricks & mortar business in the "Green Energy" sector. Energy-Evolution.com, Inc. is a fully operational 2-year-old company which operates in the Solar, Wind and renewable energy space through the sales and marketing of related products and technologies. Energy-Evolution.com has begun a nationwide campaign for growth through a distributorship strategy. Francis Manzo, President of Coastal Capital Acquisition Corporation, said: "I'm pleased that we were able to structure and execute this agreement in a way that made sense from a shareholder's perspective. This merger will add shareholder value from day one post merger. Manzo goes on to say, "Energy-Evolution.com is a company with a business plan in the right space at the right time, thus we are excited for the future of the company and its shareholders. Upon closing of the merger, I will resign as President and Chief Operating Officer. Brian Tice of Energy-Evolution will remain as the company President and Chief Operating Officer."

Brian Tice, The President of Energy-Evolution.com, commented, "I look forward to creating value for our existing and new shareholders through the successful growth of Energy-Evolution.com. Our goal is to grow nationally through the setup of distributors nationwide for our innovative energy saving products. Taking the company public through the merger with Coastal Capital Acquisition Corporation will aid us in accomplishing our goal with the needed exposure to the capital markets at a time when the sector is poised for enormous growth. Mr. Manzo and myself will work together in the coming days and weeks to effect a smooth closing and transition, which will include but are not limited to a name change, cusip change, ticker change as well as a domicile change to Florida. I look forward to communicating our plan to shareholders further as we move through closing and beyond."

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 statement 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

  • Investor Relations Contact
    Jeff Berkowitz
    561-348-0524