BOCA RATON, Fla., Feb. 21, 2013 /PRNewswire/ -- Gold Coast Mining Corp. (OTCPINK: GDSM), is pleased to announce today the following corporate update:
Over the last several months the Company and its management have been working to settle previous debts and obligations, continue the preparation of its Form 10 and position the Company to capitalize on the available opportunities, whether mergers or acquisitions, that may currently present themselves to Gold Coast. Management has been working closely with its auditors, attorneys and advisors to prepare the Company's Form 10 filing with audited financials up to and including the year ended December 31, 2012. While certain requests for confirmation from third parties have taken longer than expected, management is pleased with the progress underway to complete this filing.
With the Form 10 process fully underway and the resolution of several previous obligations, management has been working diligently on the next two significant steps for the Company. There are current efforts underway to resolve claims from the previous lenders and to select several new additions to the Company's management team.
Marc Lovito, President of Gold Coast Mining, was originally appointed as the Company's President to bring the Company's filings current, settle previous obligations, resolve claims from the previous lenders and prepare the Company for going forward. With the progress that has been made in those areas and the Company facing important decisions regarding its investment in mining projects, it is the opinion of the Company that now is the time to bring in management with the experience and expertise needed.
Over the last several weeks, the Company has been reviewing several potential management teams. The review has been focused on management that can bring additional resources and opportunities to the Company and its shareholders. Additionally, the Company has been in communications with its counsel and advisors who have agreed to support and assist any new management personnel in executing the plans going forward.
Marc Lovito, stated, "With the progress that has been made regarding filings and previous issues, it is time to bring in additional management that can lead Gold Coast to the next step of its plans regarding the mergers and acquisitions currently being contemplated by the Company. It was important to bring filings current, secure some investments and resolve any previous open issues within the Company. Now that we feel that task has been or is in process of being achieved, additional resources and leaders are the next logical step for the Company."
Lovito, continued, "Once a decision has been made and executed regarding additional management, I will focus my efforts on the resolution of the previous lenders and assisting management with current investments as well as the integration of the potential acquisitions/mergers brought to the Company by this group."
ABOUT GOLD COAST MINING
Gold Coast Mining Corp plans to pursue growth and enhance shareholder value through acquisition opportunities in and out of the mining industry. There are many lucrative mining projects that are sitting idle due to lack of capital and/or financing direction. Gold Coast will seek to capitalize on these opportunities by securing capital, finance consulting, equipment assistance and other financial assistance to these companies/projects.
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. Contact: Marc Lovito
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SOURCE Gold Coast Mining Corp.