Coastal Contacts Announces Two-for-One Share Consolidation

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VANCOUVER, British Columbia—Online optical retailer, Coastal Contacts Inc. (TSX: COA) (Stockholm: COA), has filed Articles of Amendment to give effect to a share consolidation on the basis of two pre-consolidation common shares for each one post-consolidation common share. The consolidation was authorized by shareholders and the company’s Annual and Special Meeting of Shareholders held April 20, 2012, and the company expects that its common shares will commence trading on the Toronto Stock Exchange on a consolidated basis at the opening on Sept. 5, 2012 under the current “COA” symbol and the new CUSIP number 19044R207. The consolidation reduces the number of outstanding common shares of the company from approximately 56.7 million to approximately 28.3 million. No fractional shares will be issued in connection with the consolidation.

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.