BOSTON, Jul 23, 2009 (GlobeNewswire via COMTEX) -- Gold Coast Mining Corp. (Pink Sheets:GDSM), announced today the following corporate update: Over the last several months the Company has completed numerous tasks in its effort to restore shareholder value. The name change, execution of a joint venture agreement with Western Sierra Mining Corp. and the sale of 51% of the Hot Web domains to a soon to be publicly traded company are three of the major milestones that have been accomplished to date.
In addition, the Company recently added two mining executives to its advisory board and secured the domain www.goldcoastminingcorp.com. The Company has also secured a web designer and expects the corporate site to be completed shortly.
In regards to its joint venture with Western Sierra Mining Corp. ("WSM"), the Company is a 50% partner on two mines currently owned by WSM (the Ore Cache Mine and the SunGold Mine). WSM will mine the properties and the Company will receive a 50% share of the proceeds after extraction costs. For its share of the joint venture the Company has agreed to provide capital to WSM to fund initial expenses such as the construction of a hard rock free gold recovery plant.
The Company plans to continue to fund the joint venture through loans from current shareholders and with a portion of the shares currently owned in Max Media Group, Inc. ("MMG"). As previously announced, the Company owns 49% or 29,700,000 shares of MMG (owner of the Hot Web domain properties). MMG has completed its merger with a publicly traded company and is expected to be trading the beginning of August. MMG has arranged a private placement of 1,000,000 shares of MMG common stock at a purchase price of $0.50 per share with its current shareholders to fund the expansion and marketing of its domain properties (www.hotautoweb.com, www.hotboatweb.com,www.hotplaneweb.com,www.hotcharityweb.com,www.hotrvweb.com,www.hotcycleweb.com).
Although the exact dividend has not yet been determined, the Company intends to dividend to shareholders no less than 50% (14,850,000 shares) of the 29,700,000 shares of MMG it currently owns. Management expects the exact dividend and record date to be announced by the first week of August.
About Gold Coast Mining Corp.
Gold Coast Mining Corp. is pursuing mining acquisitions and joint ventures. The Company currently has a joint venture with Western Sierra Mining Corp. for its Ore Cache and SunGold Mines located in Arizona.
The Company currently has 444,887,086 shares issued and outstanding.
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This is just the beginning, 1 share of new company for every 30 shares of GDSM. New company had 1M private placement at .50, you do the math!
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Just the beginning, record date for dividend is announced first week of august. That in addition to all the JV is has for its mines. A big winner. IMO
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About a month ago, I was reading about a gold mining co that had just acquired some property in utah that they thought was going to pan-out well for them also (something to do w/ the bakkens), but I cannot find my old info, does any one know if this is the same company, because if it is...it could be very promising!!
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This is a no brainer, just the dividends themselves make this company worth it. Throw in the gold mines and the JV's they have with WSRA. Undervalued company IMO.
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Gold Coast Mining Announces Max Media Group, Inc. Corporate Update
BOSTON, Jul 28, 2009 (GlobeNewswire via COMTEX) -- Gold Coast Mining Corp. (Pink Sheets:GDSM) announced today the following Max Media Group, Inc. corporate update: Max Media Group has initiated an advertising campaign on behalf of the VET Foundation (www.vetfoundation.org). The campaign is currently being tested in the Tampa Bay market. Advertising for donated Cars, Boats, RV's, and other "In Kind" items is underway in both the St. Pete Times TBT and The Flyer Magazine.
G. James Grady, Chairman of Max Motoring stated, "We received several calls and a donated boat the very first day the ad came out! Hopefully this is indicative of future results that will allow us to roll this program out nationwide."
The Max Motoring Show is aired every Wednesday from 9am-10am from the Tan Talk Radio network on 1340 and 1350 AM in the Tampa Bay market. The Max Motoring crew can be reached during the show toll-free at (866) 826-1340.
Additionally, Max Media announced that their efforts to begin trading publicly under the Max Media Group, Inc. name are progressing as planned. As previously stated, Max Media plans to complete the FINRA process and be trading at the beginning of August.
G. James Grady further stated, "We look forward to becoming a publicly traded company and adding Gold Coast Mining shareholders to the Max Media investor community. We assure all Gold Coast Mining shareholders that our focus will be on transparency and enhancing shareholder value. Our corporate staff is and will continue to work closely with Gold Coast management to coordinate and expedite the dividend distribution to its shareholders."
Although the exact dividend has not yet been determined, the Company intends to dividend to shareholders no less than 50% (14,850,000 shares) of the 29,700,000 shares of MMG it currently owns. Management expects the exact dividend and record date to be announced by the first week of August.
About VET Foundation
VET Foundation is a national 501C3 charity based in Tampa Florida, that helps qualifying wounded veterans transition back into the civilian workforce. This high profile relationship has set the standard for fundraising through the donation of all types of vehicles that will be sold on eBay Motors, HotAutoWeb, HotBoatWeb, HotCharityWeb, and other proprietary websites. Max Media Group is currently discussing similar high dollar volume programs with several other large well known non-profit entities.
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BOSTON, Aug 5, 2009 (GlobeNewswire via COMTEX) -- Gold Coast Mining Corp. (Pink Sheets:GDSM), announced today that its Board of Directors has set a record date of August 31, 2009, for the proposed dividend of the common stock held in Max Media Group, Inc. The Board declared a dividend of one share of common stock of Max Media for every thirty (30) shares of Gold Coast Mining common stock held by shareholders on August 31, 2009.
It is management's expectation that Max Media will be trading under its new symbol by the record date. Additionally, Max Media is preparing its financials to file with Pink Sheets, which will allow the company to have current financial information available.
Jason Cooper, Interim CEO of Gold Coast Mining Corp., commented, "The setting of the record date for our previously announced dividend, as well as the distribution rate, is a big step forward for the Company in its pursuit of restoring shareholder value. Each of our shareholders will now have the opportunity to participate in the future potential of Max Media as an individual Max Media shareholder. "
Mr. Cooper further stated: "Max Media management has committed to filing current financial information in order to achieve transparency for its shareholders and to shorten the holding period on the dividend shares. "
Max Media Group (MMG)
MMG operates 10 Hot Web sites including www.hotautoweb.com , www.hotrvweb.com , www.hotboatweb.com and www.hotcharityweb.com , among others. The sites were founded in 2001 with the current management assuming control in January of 2009. In the past 5 years, hotautoweb.com alone has generated $17 million in sales in the Classic Car segment. The Company is now initiating plans to establish a national network of trained independent representatives to market its various website listing services to collectors, charities, consumers and dealers. The Company, as an objective professional 3rd party, enables customers to purchase items (mostly sight unseen) without the fear of hidden defects or problems. The Company allows sellers to bypass the learning curve of how to establish a successful online auction while allowing the seller personal privacy protection all while reaching a worldwide audience of internet buyers with little time or effort.
MMG seeks to become the international premier marketer and publisher of classic cars, higher end vehicles, rv's, boats, motorcycles, planes and other valuable items for individuals, dealers and charities. This will be accomplished by a network of more then 100 independent representatives that complete an exhaustive documentation and history of every item listed with numerous detailed photos, video documentation and the "story," as told by the owner.
MMG revenue is derived from listing fees, both flat rate and percent of sale value, independent representatives subscription fees, and the monetization of website traffic. Currently, MMG generates between $5 to $15 eCPM (dollars earned per 1000 page views).
The management team of MMG consist of:
G. James Grady, CEO. Mr. Grady has over 40 years experience in the automotive industry. Mr. Grady has served as President of Retail Division for Don Olson Tire Centers where he was responsible for the retail operations of over 30 locations throughout the State of Florida. Additionally, he has served as President/CEO for Ken Towery Firestone, Executive V.P. and Franchise Development Manager for Morgan Tire and SE Regional Manager for Franchise Operations and Development for Tuffy Automotive.
Stephen G. Reed, CFO. Mr. Reed has served as a Vice President/Trust and Investment Services Officer for Bank One, Wells Fargo and Fifth Third Bank. Mr. Reed was also an Employee Benefits Consultant for Wausau Insurance Companies.
About Gold Coast Mining Corp.
Gold Coast Mining Corp. is pursuing mining acquisitions and joint ventures. The Company currently has a joint venture with Western Sierra Mining Corp. for its Ore Cache Mine and SunGold Mine.
The Company currently has 444,887,086 shares issued and outstanding.
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I am so new to this, so please don't laugh at this newbie question...as I read this above, am i to understand that if i have shares in goldcoast, that on aug 31st, if I had 120 shares of gdsm...I would receive 40 sares of mmg? I have never been in on anything that has had a split, or rm...(been promised, like blackhawk) (haha), or an addition of other shares. I am asumming that the additional shares alone is a good thing, but what (if anything) will be the effect of pps for gdsm? Should a person get into gdsm now? Thanks, sorry for my ignorance. kristen
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one share for every 30 you own. Sounds good, but you know, it seems to me it doesn't matter how good the chart looks or what the company does or does not make, it is the market makers aka mm's that determine if something is going to run or not. Who these people are and what they pump is like the great OZ, WTF!!!!!I need a little gold to go with my solar,biofuel, wind turbines, hydrogen fuel cells,software, sanitary flushable rags,spot removers and pop corn. Let er rip!!!
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FYI, any free divy shares you receive may seem like a great idea, but you will never be able to sell them. They will just take up space in your account, and by the time you can sell them, the stock will either R/S and you will have even less, or it will be a 0001 and you will lose your $$ on the commission.
Free shares are horrible in penny land.
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quote:Originally posted by Homersbud: FYI, any free divy shares you receive may seem like a great idea, but you will never be able to sell them. They will just take up space in your account, and by the time you can sell them, the stock will either R/S and you will have even less, or it will be a 0001 and you will lose your $$ on the commission.
Free shares are horrible in penny land.
True, if restricted. The PR takes some pains to indicate "common shares" and even holds out the promise that they will be trading...
Not that I'm urging peeps to believe PRs from pinkies...
-------------------- Nashoba Holba Chepulechi Adventures in microcapitalism...
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quote:Originally posted by beerlady: So my question still stands (see above) does the additional shares in a seperate stock effect gdsm? and is now a good time?
The only effect it'll have, once the record date have come and pass, GDSM will need a new pump to keep this stock going, otherwise, it'll fall right back to where it began at.
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