Gold Coast Mining Corp. (OTC Pink: GDSM), provides the following Corporate Update:
The Company is pleased to announce updates on several items:
1. The Company received a revised term sheet from Gelpid, our judgment holder, yesterday and is being reviewed. The Company believes that good progress is being made.
2. In conversations with one of Gelpid's principals and through additional due diligence into the marijuana industry, the Company believes that opportunity exists to participate in the growth via acquisition/construction of "turn-key" grow facilities, as well as, retail dispensary locations. Both would have identical looks to create a recognizable brand for roll out into other locations/states as laws are changed.
3. Given the capital required to pursue this strategy, the Company, via its subsidiary, would propose to be the general partner and raise capital from private investors. Obviously, the Company would retain an interest and control the brand.
4. This real estate strategy would complement the private business or be a standalone business line.
5. The new subsidiary is being worked on with the Company's legal advisor
6. Lastly, the remaining four items have not been supplied to the Company's auditors. The blame is squarely on the CEO and this will be accomplished by next week. The audits are a critical piece of the overall strategy.
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.
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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.
Gold Coast Mining Corp.
Phone: (203) 210-5614
SOURCE: Gold Coast Mining Corp.