HOUSTON--(BUSINESS WIRE)--April 16, 2004--CortDev, Inc. (CDVJ: Pink Sheets) is pleased to announce that its wholly-owned company Coastal Holdings, Inc. (CSJJ: Pink Sheets), is in the process of completing the acquisition of a stake in two revolutionary Israeli biotechnology firms that will make a shift in the paradigm of their respective fields. The advanced bio-technologies of both companies will be a giant step forward in benefiting and protecting mankind. The companies were screened and identified by the Jerusalem Investment Forum (JIF) and the acquisitions are being negotiated by its directors. Yehuda Glatt of the Yehuda Raveh Legal Office is acting legal counsel. The initial round of investment will be for a total of $5.0M, according to agreed upon milestones.
Beyla Potasz, JIF Director, was quoted as saying that the acquisitions will be financially, mutually beneficial for the new and existing investors in both companies and Israel as a whole. We are very impressed by CEO Mr. A. Cortellazzi’s commitment to investing through JIF. We look forward to his forthcoming trip to Tel Aviv on April 27. Coastal Holdings, Inc. will announce the names of the companies at JIFS, an invitation-only luncheon for accredited investor
In regards to all investors who purchased shares of CDVJ with a settlement date of April 9, whether they are still holding them or not, they will still be entitled to receive restricted shares of CSJJ.
For further information please contact Investor Relations at (973) 351-3868.
Forward-Looking Statements
Please be advised that statements made herein, other than historical data, constitute forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those stated or implied by such forward-looking statements. The potential risks and uncertainties include, among others, potential volatility in the company’s stock price, increased competition, customer acceptance of new products and services offered by the company, and uncertainty of future revenue and profitability and fluctuations in its quarterly operating results. More information about potential factors that could affect the company’s business and financial results may be obtained by contacting the company at by phone at 973-351-3868. Please also be advised that the company’s stock is not currently registered with the Securities and Exchange Commission.
Contacts
Taylor Capitol, Inc. (Investor Relations) Stephen Taylor, 973-351-3868 E-mail: STEPHTAYL9@AOL.COM URL: www.IPOmovers.com
