Coastal Contacts Withdraws Common Share Offering

By
VANCOUVER, British Columbia— Online optical retailer, Coastal Contacts Inc. (NASDAQ: COA) (TSX: COA) (Stockholm: COA) will not proceed with its previously announced marketed offering of common shares because it has determined that current market conditions will not permit it to raise funds on acceptable terms. The original announcement of the now terminated stock offering followed soon after Coastal began trading on the Nasdaq stock exchange, reported Oct. 26 by VMail.

Founded in 2000, Coastal Contacts services customers in more than 150 countries through its family of websites, including Coastal.com, ClearlyContacts.ca, Lensway.com, Lensway.co.uk, Lensway.se, ClearlyContacts.com.au, ClearlyContacts.co.nz, Contactsan.com, Coastallens.com and its newest site, Lensway.com.br.