VANCOUVER, British Columbia, Nov. 12, 2009 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. (TSX:COA) ("Coastal Contacts") the leading online retailer of contact lenses and eyeglasses announced today that it intends to recommend Mr. Stuart Belkin be nominated for election to Coastal Contacts' Board of Directors at the next annual general meeting of shareholders of Coastal Contacts. Mr. Belkin has indicated that he will accept the nomination.
Mr. Belkin serves as the Chairman and Chief Executive Officer of Belkorp Industries Inc., a leading Canadian corporation. He also currently serves as Chairman of Lantic Inc., Canada's largest sugar refiner, trustee of Rogers Sugar Income Fund and as a Director of the Vancouver Police Foundation. Previously, Mr. Belkin served as Chairman of the Canadian Hotel Income Fund, Chair of Mohawk Oil Canada Ltd. and has served on the boards of Belkin Inc., Timberwest Forest Corporation, B.C. Sugar, Tembec Inc. and the C.D. Howe Institute.
"We are delighted that Mr. Belkin has agreed to stand for nomination to the Board of Directors of Coastal Contacts," stated Mr. Roger Hardy, Coastal Contacts' President and CEO. "We are confident that Mr. Belkin's experience and business acumen will be of great benefit to Coastal Contacts going forward."
About Coastal Contacts Inc.:
Coastal Contacts Inc. is the world's leading direct-to-consumer vision products company which designs, produces and distributes a diversified offering of contact lenses and eyeglasses. The Company's unique combination of branded and private label products represent quality, value and above all, service. Coastal sells into more than 150 countries through proprietary web properties which reflect the culture and consumer preference of the target market. As new markets for eyeglasses and contact lenses evolve, the Company is positioned to become the vision product consumer's retailer of choice owing to its compelling value proposition combining value and service. A leader in many of its markets, Coastal is rapidly advancing toward its goal of becoming the "World's Optical Store".
Forward Looking Statements
All statements made in this news release, other than statements of historical fact, are forward-looking statements. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "goal", "target", "should," "likely," "potential," "continue," "project," "forecast," "prospects," and similar expressions typically are used to identify forward-looking statements. Examples of such forward looking statements within this document include statements relating to the nomination of Mr. Belkin to the Company's Board of Directors.
Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about our business and the industry and markets in which we operate. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Assumptions underlying our expectations regarding forward-looking statements or information contained in this news release include, among others: that the intentions of Coastal Contacts and Mr. Belkin not change between now and the next annual general meeting of shareholders. The foregoing list of assumptions is not exhaustive.
Persons reading this news release are cautioned that forward-looking statements or information are only predictions, and that our actual future results or performance may be materially different due to a number of factors. These factors include, but are not limited to: changes to the intentions of either or both Coastal Contacts or Mr. Belkin regarding his nomination between the date of this news release and Coastal Contacts next annual general meeting of its shareholders. Reference should also be made to the section entitled "Risk Factors" contained in our most recently filed Annual Information Form dated January 29, 2009 and in the NASDAQ OMX Stockholm listing prospectus dated October 14, 2009, as filed on Sedar and with the Swedish Financial Supervisory Authority, for a detailed description of the risks and uncertainties relating to our business. These risks, as well as others, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. These forward-looking statements are made as of the date of this news release and we expressly disclaim any intent or obligation to update these forward-looking statements, unless we specifically state otherwise and except as required by applicable law.