Gold Coast Mining Announces Corporate Update
February 18 2014 - 8:15AM
Marketwired
Gold Coast Mining Announces Corporate Update
WILTON, CT--(Marketwired - Feb 18, 2014) - Gold Coast Mining
Corp. (OTC Pink: GDSM), provides the following Corporate
Update:
The Company continues to be active on several fronts as it moves
forward. Negotiations continue with Gelpid, the Company's judgement
holder; legal discussions are occurring to determine the best
strategy for establishing a subsidiary, spinning it off and
arranging a registered shelf offering; a due diligence "punch list"
has been provided to the owner of the natural gas wells; and the
Company is reviewing opportunities to participate in oil
projects.
CEO Michael Shea states, "I am pleased with all the activity,
but bringing final resolution to the settlement and closing
acquisitions has to be accomplished. I am striving to accomplish
this, in addition, to finally completing the long awaited audit of
our financials. Our auditor, Corso & Company, has provided me a
list of four remaining items, which will be provided no later than
next week."
Finally, the Company wishes to address its share structure. The
current common stock outstanding is approximately 3.2 billion
shares and has not changed in the last 90-100 days. The Company was
looking at an acquisition that would have required the issuance of
a significant amount of stock. To accommodate this potential
acquisition, the Company raised the authorized amount of common
stock to 6.5 billion. In light of current events, the Company is no
longer pursuing this acquisition but will reserve the authorized
for settlement negotiations and future opportunities.
ABOUT GOLD COAST MINING
Gold Coast Mining Corp. is a holding company with interests in
the mining and energy sectors. The Company's goal is create a
vertically integrated oil division and continue its diversification
into other high growth industries. The primary goal is generate
cash flow to sustain and grow profitability.
Follow us on Twitter at http://twitter.com/GoldCoastMining
Safe Harbor Statement
Matters discussed in this press release contain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. When used in this press release, the words
"anticipate," "believe," "estimate," "may," "intend," "expect" and
similar expressions identify such forward-looking statements.
Actual results, performance or achievements could differ materially
from those contemplated, expressed or implied by the
forward-looking statements contained herein. These forward-looking
statements are based largely on the expectations of the Company and
are subject to a number of risks and uncertainties. These include,
but are not limited to: the impact of economic, competitive and
other factors affecting the Company and its operations, markets,
product, and distributor performance.
CONTACT: Michael Shea Gold Coast Mining Corp. Phone: (203)
210-5614 Email: Michael.shea@gdsmholdings.com
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