BOCA RATON, FL -- (Marketwired) -- 08/06/13 -- Gold Coast Mining Corp. (OTC Pink: GDSM), is pleased to announce that it has closed an investment in an oil field/well. Details as follows:
Mr. Shea stated, "We are very fortunate to be able to participate in this project and have a strong desire to obtain the 5% interest level. While the projected monthly net revenue is only $6,000, one to two more similar investments should put the company in a position of sustainable profitability. This is part of my first step in stabilizing the company and utilizing share issuances only for accretive acquisitions."
Shea continued, "As the first part of the my strategy is underway, Management can now look toward phase two which may include business line diversification and/or acquisition of a larger company via a reverse merger. Obviously, the later is much more challenging and the Company must complete its audit and Form 10 for that to be a viable option. Several opportunities are in different stages of due diligence."
Lastly Shea commented, "If we are fortunate enough to acquire a small portfolio of these well interests, and a capital need arose for a more lucrative venture, I would not be averse to selling the income streams at a reasonable discount to a NPV (net present value)."
The Company will host its quarterly conference call at the end of August at which time a full update will be given, including financing of the well interest, audit, Form 10, etc. Details will be provided shortly.
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.
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