WILTON, CT / ACCESSWIRE / September 4, 2014 / Gold Coast Mining Corp. (OTC Pink: GDSM), provides update on its Colorado activities.
Gold Coast, a leader in innovative concepts and technologies in the marijuana industry, is excited to announce that the Company has reached a verbal agreement for a new grow opportunity and two other projects located in Routt County, CO.
A written term sheet has been submitted to parties for the acquisition/lease of a 3,600 sq. ft. warehouse that will accommodate a substantial grow operation with the capability to install a loft or second level, further expanding production capabilities. The warehouse has all the required infrastructure including 3 phase power and water and a harvest is planned for January/February timeframe and be perpetual thereafter. The Company is waiting on the final signature and will immediately move to final documentation.
Gold Coast and its Denver based legal counsel are performing due diligence on two other properties, one is a family owned 90 acre parcel of which only 40 acres are currently being used as an outdoor grow facility. Plans call to fully develop the 90 acres and construct several greenhouses to allow for year round cultivation.
The third property is a retail medical marijuana dispensary that has several valuable permits including MIP (Marijuana Infused Products) kitchen and wholesale grow licenses.
CEO Michael Shea commented, "I am pleased with the opportunities and I have no doubt that the Company will close transactions in the very, very short term. These transactions are complex and time consuming, but we have the legal structure that allows Gold Coast to participate. Routt County has been more consistent in its view of the industry versus Chaffee County, which just imposed a moratorium on new grow facilities, causing us to put that project on hold despite getting all parties to agree to the terms and conditions."
"I fully expect events to start unfolding rapidly beginning next week and will keep shareholders and the investment community updated", Shea concluded.
The o/s remains unchanged from previously reported.
ABOUT GOLD COAST MINING
Gold Coast Mining Corp. is a holding company with interests in the MJ industry. The Company's goal is create a vertically integrated company and continue its diversification into other high growth industries. The primary goal is generate cash flow to sustain and grow profitability.
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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.
Contact Info:
Michael Shea
CEO
Gold Coast Mining Corp.
(203) 210-5614
SOURCE: Gold Coast Mining Corp.
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