Tuesday, March 04, 2014 1:55:23 PM
Gold Coast Mining Announces Corporate UpdateBY Market Wire
— 1:45 PM ET 03/04/2014
WILTON, CT -- (Marketwired) -- 03/04/14 -- Gold Coast Mining Corp. (GDSM
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.
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