Coastal Contacts Inc. Announces Closing of Underwritten Public Offering of Common Shares

Coastal Contacts Inc. Announces Closing of Underwritten Public Offering of
Common Shares

VANCOUVER, British Columbia, April 1, 2013 (GLOBE NEWSWIRE) -- Coastal
Contacts Inc. ("") (Nasdaq:COA) (TSX:COA) announced today that it
has closed its previously-announced underwritten public offering of 3,000,000
common shares, and the exercise, in part, of the over-allotment option to
purchase an additional 447,100 common shares, at a price of $6.00 per share
for gross proceeds to the company of $20,682,600.

Roth Capital Partners, LLC and Craig-Hallum Capital Group LLC acted as joint
book-runners for the offering. intends to use the net proceeds to accelerate its customer
acquisition strategy, make certain capital expenditures and improve working
capital to fund growth in new and existing distribution channels.

The shares described above were offered by pursuant to a
registration statement previously filed with and subsequently declared
effective by the Securities and Exchange Commission ("SEC"). A preliminary
prospectus supplement relating to the offering was filed with the SEC on March
25, 2013 and a final prospectus supplement relating to the offering was filed
with the SEC on March 26, 2013, both of which are available on the SEC's
website at

This press release shall not constitute an offer to sell or the solicitation
of an offer to buy any of the securities described herein, 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. seeks to empower customers to easily
browse, try on and buy eyewear—saving time, money and sanity. With every pair
of qualifying frames purchased, donates a pair to someone in need
through its Change the View project. Founded in 2000, designs,
produces and distributes one of the largest selections of glasses and contact
lenses on the Internet, including a unique combination of designer glasses,
contact lenses, sunglasses, and vision care accessories. serves
customers in more than 150 countries through the Coastal Contacts family of
websites including:,,,,,,,,, and

Cautionary Note Regarding Forward-Looking Statements

This News Release may contain "forward-looking statements" as defined in the
U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, the
Private Securities Litigation Reform Act of 1995 and applicable Canadian
securities legislation concerning the business, operations and financial
performance and condition of that are not 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 include statements relating to:'s perception of the
contact lens and eyeglasses industry or market and anticipated trends in that
market in any of the countries in which does business; its
anticipated ability to procure products and supplies, or the terms under which
it procures products and supplies;'s anticipated business
operations, inventory levels, ability to handle specific order and call
volumes, ability to fill and ship orders in a timely manner, ability to
achieve greater marketing efficiency or similar statements; ability to
increase its production; plans for capital expenditure plans; relationships
with suppliers; anticipated results of operations, including but not limited
to anticipated sales, revenues, earnings, tax benefits or similar matters; the
effects of seasonality; sufficiency of cash flows; and's
perceptions regarding volatility in and impact of foreign currency exchange

Forward-looking statements are based on the then current expectations,
beliefs, assumptions, estimates and forecasts about's business and
the industry and markets in which it operates. Forward-looking statements are
not guarantees of future performance and involve risks, uncertainties and
assumptions which are difficult to predict. Assumptions underlying's expectations regarding forward-looking statements or information
contained herein include, among others: that will maintain its
position in the markets it operates in and will expand into other markets in a
favorable manner; that it will have sufficient capital to continue making
investments in advertising, inventory, property, equipment and leasehold
improvements as well as personnel to support its business and new product
lines, including its eyeglasses business; that will be able to
generate and maintain sufficient cash flows to support its operations; that it
will be successful in complying with industry regulatory requirements in
British Columbia and other jurisdictions; that will be able to
establish and/or maintain necessary relationships with suppliers; and that it
will retain key personnel. The foregoing list of assumptions is not
exhaustive. Readers are cautioned that forward-looking statements or
information are only predictions, and that's actual future results
or performance may be materially different due to a number of factors.These
factors include, but are not limited to: changes in the market; potential
downturns in economic conditions; consumer credit risk;'s ability
to implement its business strategies; competition; limited suppliers;
inventory risk; disruption in its distribution facilities; mergers and
acquisitions; foreign currency exchange rate fluctuations; regulatory
requirements; demand for products sells; competition and
dependence on the internet as well as those risks described in the securities
filings of

Although believes that its plans, intentions and expectations
reflected in or suggested by such forward-looking statements are reasonable,
actual results could differ materially from a projection or assumption in any
of its forward-looking statements.'s future financial condition
and results of operations, as well as any forward-looking statements, are
subject to change and inherent risks and uncertainties. The forward-looking
statements contained herein are made only as of the date hereof.
does not have, or undertake, any obligation to update or revise any
forward-looking statements whether as a result of new information, subsequent
events or otherwise, unless otherwise required by law.

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