Coastport Capital Inc.
TSX VENTURE : CPP
FRANKFURT : C1J

Coastport Capital Inc.

July 13, 2010 18:08 ET

Coastport Capital: $2,000,000 Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 13, 2010) - Coastport Capital Inc. (TSX VENTURE:CPP)(FRANKFURT:C1J) -

NOT FOR DISSEMINATION INTO THE UNITED STATES OF AMERICA OR DISTRIBUTION TO U.S. NEWSWIRE SERVICES

Malcolm Todd, Chief Executive Officer of Coastport Capital Inc., ("Coastport" or the "Company") reports that the Company is undertaking a non-brokered private placement in the amount of $2,000,000. These funds will be raised through the issuance of a combination of flow-through units ("FT Unit") at a price of $0.15 per FT Unit, and non-flow-through units ("NFT Unit") at a price of $0.125 per NFT Unit. Each FT Unit will consist of one flow-through common share and one half of one common share purchase warrant. Each NFT Unit will consist of one common share and one half of one common share purchase warrant. Each whole warrant will entitle the holder, on exercise, to acquire one non-flow-through common share for a period of 12 months, at a price of $0.20 during the first six months, and at a price of $0.30 during the following six months. 

Fees and commissions will be payable in connection with the private placement. The private placement is subject to the approval of the TSX Venture Exchange.

ON BEHALF OF THE BOARD OF COASTPORT CAPITAL INC.

Malcolm Todd, Chief Executive Officer

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Coastport Capital Inc.
    Malcolm Todd
    Chief Executive Officer
    (604) 684-2356
    (604) 684-2356 (FAX)
    www.coastportcapital.com