Press Release Source: Coastal Capital Acquisition Corp.
Coastal Capital Acquisition Corporation Announces Termination of Letter of Intent to Acquire NBD, Inc.Thursday September 25, 4:24 pm ET
COLUMBUS, GA--(MARKET WIRE)--Sep 25, 2008 -- Coastal Capital Acquisition Corp. (Other OTC:CCAJ.PK - News) (CCAJ) announces that it has received notice of termination of our Letter of Intent to acquire NBD, Inc., dba Spinal Devices, a privately held medical device company located in Marietta, Georgia.
NBD has elected not to pursue our acquisition and has returned the second deposit of $20,000 as per the Letter of Intent. NBD "determined that the current market conditions have too many uncertainties and risks associated with being a small public company."
On September 15, 2008, Mark Lewis resigned from the board of directors of the Company with immediate effect. Mr. Lewis is resigning to focus more on family and other business opportunities.
The Board of Directors has three members following these resignations: Tim Taylor, Mike Ogie, and Tom Greene. |
