SOURCE: Costal Integrated Services Inc.

November 03, 2015 08:30 ET

Coastal Integrated Services (COLV) Suspends Reverse Split Indefinitely

LAS VEGAS, NV--(Marketwired - Nov 3, 2015) - Coastal Integrated Services (OTC PINK: COLV) CEO Clifford Redekop announced today that the company would indefinitely suspend a reverse split of the COLV stock. Last week's announcement of the Merger Agreement to Acquire 100% of the International Online Casino and Sportsbook operator 'OLYMPIAN GROUP' (www.olympiangroup.com), quoted a strategy or re-organization including mention of a Reverse Stock Split of 100 to 1 with NASDAQ or the FRANKFURT Exchange as possible reasons. 

Today Clifford Redekop stated, "Indefinitely suspending the reverse split allows us to better finance the expansion of the www.GR88.com brand as our new 1st order of business. It is important to have the flexibility and the ability to adjust our strategy in order to best support funding for our important Asian Markets expansion. In 2014 Olympian Group had undergone significant financial review of player value assets, handle or betting numbers, gross gaming revenues and B2B operational revenues, and private investment and funding groups estimated our assets at a USD $25 Million valuation with a much higher valuation once the brand was launched into Asia." 

Peter Karroll, Founder of Olympian Group, stated: "We've had massive success in the past taking a privately owned brand from $38 Million in Gaming revenues up to a 1 Billion dollar valuation in just over 12 months, then doubling that in the following 12 months. With our history of significant successes, we don't want to put the cart before the horse with COLV and Olympian as we are looking to make our shareholders happy as we bring excitement to this valuable organization. It is very rare to find a company with our proven history of success trading in the 'Penny Stock' arena and we are confident that we can continue to build the story and drive our success. I will personally be staying on as an Advisory Board member with Olympian Group and will oversee the operations and the transition of the GR88.com brand into what we are convinced will be the next Asian superpower in online casinos."

GR88.com took in over $13.4 million in gambling bets in 2014, a 374% increase over the previous year. The Company expects revenues to continue to climb with the newly organized marketing campaign about to get underway. Olympian has primarily concentrated its efforts on B2B operations from 2009 - 2013 and has since re-focused attention in 2014 on GR88.com. "We know we have something special with this brand and will focus on Gr88 as our flagship site with significant marketing and driving brand recognition," said Mr. Redekop.

About Olympian Group: www.OlympianGroup.com
Olympian Group is an independent 360-degree online gaming management solution in operations since 2009. Olympian's Executive Team is assembled from top international Online Gaming organizations. Olympian offers 100% turnkey operations and works with top software providers to ensure the highest quality gaming experience for represented and proprietary online gaming brands.

About GR88.com: www.GR88.com
GR88.com offers the highest quality entertainment with first class games from world leading gaming technology partners, superior 24/7 customer service and a simple, easy-to-navigate interface. Backed by a highly experienced international team, GR88.com was designed to bring more fun to the online experience.

About Costal Integrated Services Inc:  http://www.otcmarkets.com/stock/COLV/quote
Costal Integrated Services is a publicly traded company on the OTC Markets under the symbol 'COLV.'

Contact Information

  • For further information contact:
    Costal Integrated Services Inc.
    Media@OlympianGroup.eu
    Investor Relations direct telephone: +1 702 326 3615