Coastal Capital Acquisition Corp. Announces Acquisition of Planet Impact, Inc.
18 Agosto 2010 - 2:53PM
Marketwired
Coastal Capital Acquisition Corp. (PINKSHEETS: CCAJ) announced
today that it has acquired 100% of the shares of Planet Impact,
Inc. (www.planetimpactinc.com) through a share exchange agreement
in which Mr. Michael Lambert (current CEO of Planet Impact Inc.)
and Mr. Stephen Remondini, (current President of Planet Impact
Inc.) have agreed to join the Board of Directors of the Company.
"We have been in discussions for 5 weeks with Mr. Remondini's
team and believe that the 'green business model' will create
significant value for the shareholders of CCAJ," stated Jeff
Berkowitz, past President and CEO of the Company. As a result of
the transaction Mr. Berkowitz has resigned as an officer and
director of the Company, effective immediately, and Mr. Tracey
Anderson will assist the new Board in the transition and resign
effective August 27th. Mr. Berkowitz further added, "We have been
through many opportunities and iterations of the Company over the
last 4 years and I believe this transaction will bring lasting
stability and infinite opportunities for CCAJ and its
shareholders."
Planet Impact, Inc. distributes innovative energy-efficient
carbon emission and water purification products designed to meet
the burgeoning demands of government, industry, agriculture,
consumer and recreational needs, humanitarian assistance, and
emergency response. Planet Impact's flagship products include; the
Vitalizer™ for the reductions of carbon emissions, and the
Aqualizer™ and AquaMaster™ for water purification, disinfectants
and desalination.
As a result of the transaction, Mr. Remondini will accept the
role of Chairman and President of the Company, Mr. Lambert will
accept the position of Chief Executive Officer and Director. "We
are excited about entering into a transaction of this type because
of its potential to provide additional resources by which we can
grow the company at a faster pace in this economy and create
greater opportunities for the shareholders," stated Mr. Remondini.
He added, "We are big on communicating the 'Green Message' to the
investing public, and to educating as many people as possible about
the Company's mission and our planned approach into multiple green
markets. As a result of this desire, we will hold an investor
conference call within the next few weeks, and will inform the
public in advance of the date and time."
Forward-Looking Statements:
This report contains forward-looking statements, including the
use of the words "expect," "anticipate," "estimate," "project,"
"forecast," "outlook," "target," "objective," "plan," "goal,"
"pursue," "on track," and similar expressions. These
forward-looking statements involve risks and uncertainties. Factors
that could cause actual results to differ materially from those
predicted in any such forward-looking statements include our
ability to continue to lower our costs, our timely development and
customers' acceptance of our products, including acceptance by key
customers, pricing pressures, rapid technological changes in the
industry, increased competition, our ability to attract and retain
qualified personnel, our ability to identify and successfully
consummate future acquisitions, adverse changes in customer order
patterns, adverse changes in general economic conditions in the U.S
and internationally, risks associated with foreign operations and
political and economic uncertainties associated with current world
events.
Contact: Investor Relations Richard Kravets (215) 485-8239
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