Coastport Capital Inc.
TSX VENTURE : CPP

Coastport Capital Inc.

April 07, 2006 17:55 ET

Coastport Capital Inc.: Canaccord Exercises Over Allotment Option on Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 7, 2006) -

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

Further to the Company's news release dated March 27, 2006, Mr. David Patterson, President of Coastport Capital Inc. (TSX VENTURE:CPP), announces that Canaccord Capital Corporation has elected to exercise its over allotment option on the brokered portion of the private placement to increase the size of the offering by 112,500 units. Accordingly, Coastport will now be issuing an aggregate of 7,387,500 units at a price of $0.90 per unit for total proceeds of $6,648,750. Each unit will consist of one common share and one-half of one share purchase warrant of which one full warrant entitles the holder thereof to purchase one additional common share of Coastport for a period of 18 months at a price of $1.10.

ON BEHALF OF THE BOARD OF COASTPORT CAPITAL INC.

David Patterson, President

WARNING: This news release contains forward looking information. The reader is cautioned that assumptions used in the preparation of such information, although considered accurate at the time of preparation, may prove incorrect. The actual results may vary materially from the information provided herein. Consequently, there is no representation by Coastport that actual results achieved will be the same as those forecast.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.

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