April 1, 2010 (FinancialWire) — Coastal Contacts Inc. (Coastal) (TSX: COA) (Stockholm: COA) said it has entered into a loan agreement with the Bank of America for a $5 million secured revolving line of credit.

The Line of Credit is available until March 31, 2012 and Coastal may borrow and repay any principal amounts drawn on the Line of Credit during this period. The Line of Credit is subject to a maximum advance of the lesser of either $5 million and a percentage of certain of Coastal's working capital assets. Obligations under the Loan Agreement are secured by all of Coastal's assets.

Coastal Contacts Inc. is a leading online vision products company which designs, produces and distributes a diversified offering of contact lenses and eyeglasses.

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