Coastal Contacts Announces Termination of Common Share Offering

16 Nov, 2012 16:08 CET

Coastal Contacts Inc
Company Announcement

Coastal Contacts Announces Termination of Common Share Offering

VANCOUVER, British Columbia, 2012-11-16 16:08 CET (GLOBE NEWSWIRE) -- Coastal
Contacts Inc. ("Coastal") (Nasdaq:COA) (TSX:COA) (Stockholm:COA.ST), an online
retailer of vision care products, announced today that it will not proceed with
its previously announced marketed offering of common shares as it has
determined that current market conditions will not permit it to raise funds on
acceptable terms. 

This press release shall not constitute an offer to sell or the solicitation of
an offer to buy nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to registration or qualification under the securities laws of any such state or
jurisdiction. 

About Coastal Contacts

Coastal Contacts Inc. is one of the largest online retailers of vision care
products in the world. Coastal empowers customers to easily browse, try on and
buy eyewear—saving time, money and sanity. With every pair of qualifying frames
purchased, Coastal donates a pair to someone in need through its Change the
View project. Founded in 2000, Coastal designs, produces and distributes the
largest selection of glasses and contact lenses on the Internet, including a
unique combination of designer glasses, contact lenses, sunglasses, and vision
care accessories. Coastal serves customers in more than 150 countries through
the Coastal Contacts family of websites including: Coastal.com,
ClearlyContacts.ca, Lensway.com, Lensway.co.uk, Lensway.se, Lensway.com.br,
ClearlyContacts.com.au, ClearlyContacts.co.nz, Contactsan.com, and
Coastallens.com. 


         For Further Information:
         
         Terry Vanderkruyk
         Vice President, Corporate Development
         Coastal Contacts Inc.
         604.676.4498
          
         
         or
         
         Liolios Group Inc.
         Scott Liolios or Cody Slach
         949.574.3860