Business
Gold Coast Mining Provides Corporate Update
Gold Coast Mining Provides Corporate Update.
About this update from Green Leaf Innovations, Inc.
[{"type":"text","content":"\n \n \n Gold Coast Mining Provides Corporate Update\n \n \nGold Coast Mining Provides Corporate Update\n \n WILTON, CT--(Marketwired - Oct 31, 2013) - Gold Coast Mining Corp. (OTC Pink: GDSM), is pleased to announce a Corporate Update. \n Gold Coast Mining continues its due diligence and is in active discussions with potential lenders on the Galahad Limited Partnership #1, LP (\"Galahad\") acquisition, which includes two producing oil wells on Lease #17652 (District 5, RRC Identifier 03935). The acquisition package also includes drilling a third well on the same Lease upon closing. The two wells, drilled in 2010, have been producing 140-150 barrels per month.\n The Company regretfully announces that its interest in the Garfield project has fallen through. While Gold Coast did provide the funds, it turns out that Bubblin Crude was unable to fulfil its contract with Tiger Development, which required the purchase of 10% of the project. Bubblin fell short of its requirement by $30,000. \n Michael Shea, CEO stated, \"I am very disappointed in this turn of events, as the Garfield project is in production. However, after seeing our funds bounce back and forth several times between Bubblin Crude and Tiger, I would prefer to invest in projects where our participation is welcomed. To this extent, I am reviewing several projects that desire to have the Company as an investor and expect to make 1-2 investments prior to year end.\"\n Shea continued, \"I continue to believe that making investments in oil production, as well as, opportunistically acquiring wholly owned projects ala Galahad, makes strategic sense that should provide tremendous financial benefits for the Company and shareholders.\"\n From an internal perspective, the Company engaged Corso and Company to perform its audit. Corso and Company will provide audited financial statements for fiscal years 2011 & 2012, a reviewed statement for the six month period ended June 30, 2013, as well as, the completion and filing of corporate tax returns for the last four years. The audit is progressing and should be completed by the end of November, allowing the Company to file its Form 10, \"up list\" and regain its full reporting status. \n Becoming fully reporting with our shares registered is extremely important to the growth of the Company. It will provide us credibility in the market...