SOURCE: Coastal Holdings, Inc.

August 20, 2007 10:27 ET

Coastal Holdings, Inc. (Canadian Blue Gold Inc.) Announces Nomination of Mr. Allain Barriere as Chief Executive Officer and Appointment of New Members to Board of Directors

Mr. Luc Bellemare, Attorney, Appointed Chairman of Board and Mr. Jocelyn Brasseur Named Director and President of Audit Committee

HOUSTON, TX--(Marketwire - August 20, 2007) - Coastal Holdings, Inc. (PINKSHEETS: COHG) (in the process to change corporate name to Canadian Blue Gold Inc.) today announced that Mr. Allain Barriere has been appointed as Chief Executive Officer of the Company.

Mr. Allain Barriere stated the following: "Following completion of the reorganization program, we deemed that it is in the best interests of the Company to proceed with these changes in preparation for the imminent official launch of Canadian Blue Gold on the equity market. Moreover, these changes reflect a clearer and more effective management vision accompanied by a stronger commitment to comply with the revised disclosure rules and regulations of the Pink Sheets Market instituted on August 1, 2007."

Mr. Luc Bellemare, attorney, was appointed Chairman of the Board of Directors. Mr. Bellemare is a member of the Bar since 1989; a partner in a Montréal law firm and possesses over 15 years of experience in corporate law. He has been representing several companies in commercial export missions throughout his career and has acted as export counselor for Canadian companies in Africa. His expertise has led him to become a spokesman for many commercial conferences and a major contributor to numerous law courses for Canadian Universities. His nomination constitutes an invaluable asset in the execution of the Company's export plans.

Mr. Jocelyn Brasseur was appointed as Director and President of the Audit Committee. Mr. Brasseur (B.A. Finance) is currently President and Chief Executive Officer of PLB International Inc., which specializes in the manufacturing and distribution of pet food products that are exported to over 25 countries. He has served PLB for the last 26 years in various positions including: Financial Director, VP Finance and Marketing and General Manager. His vast expertise in exporting Canadian products worldwide will surely contribute in a significant and positive way to Canadian Blue Gold's operations program.

Mr. Barriere added the following statement: "I am honored and delighted that both of my long time friends have agreed to join Canadian Blue Gold's Board of Directors and I am confident that with the addition of their substantial expertise in the areas of corporate law and the global manufacturing and exporting of products our Company is poised to succeed. We are currently in negotiations with other potential board members and operating directors and we will keep our shareholders informed of any further nominations."

For further information please contact Allain Barriere's office at (514) 977-1271.

Forward-Looking Statements

Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company's stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. Please also be advised that the company's stock is not currently registered with the Securities and Exchange Commission.

Contact Information

  • Contact:
    Allain Barriere
    (514) 977-1271