BOSTON, Aug. 10, 2009 (GLOBE NEWSWIRE) -- Gold Coast Mining Corp. (Pink Sheets:GDSM) announced today that Max Media Group, Inc. has begun trading on the OTC Pink Sheets as of Monday August 10, 2009 under the symbol MXMI.
Max Media will have a total of 76,098,803 shares outstanding upon the issuance of all shares required by its acquisition of the Hot Web domain properties and completion of its current private placement of 1,000,000 common shares at a purchase price of $0.50 per share.
James Grady, CEO of Max Media Group, Inc., commented, "We are very excited to begin trading as Max Media. We have many plans and opportunities for the company and its shareholders that can now be aggressively pursued. While we have been working tirelessly over the last few months, we plan to increase our activities substantially now that we are an independent publicly traded company."
Jason Cooper, Interim CEO of Gold Coast Mining Corp. stated, "Our focus regarding Max Media over the next several weeks will be on assisting them with their transition as a public company and expediting the distribution of the dividend shares to our shareholders in a timely manner."
Cooper further stated, "We have set out many plans over the last few months. The accomplishment of Max Media trading is another step in the execution of those plans. We will continue to push forward our plans and goals of enhancing shareholder value the best way we can, always with the shareholders best interest in mind."
Additionally, management cautioned that the trading and price in Max Media stock over the first week may be volatile and erratic until all new shares after the reverse split and name change have been distributed. Max Media will have approximately 15,098,000 shares in the free trading float.
As previously announced, the Board of Directors of Gold Coast Mining have approved and 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.
About Gold Coast Mining Corp.
Gold Coast Mining Corp. seeks to provide financing, equipment and finance related services to the mining industry. It is the Company's plan to pursue these opportunities through acquisitions and joint ventures with other mining concerns.
The Company currently has a joint venture with Western Sierra Mining Corp.(Pink Sheets:WSRA) for its Ore Cache and SunGold Mine Projects located in the Prescott, Arizona area. Gold Coast has agreed to provide capital to WSRA to fund initial expenses to put each of the mines into production. Such initial expenses will include the construction of a hard rock free gold recovery plant. Gold Coast is a 50% revenue sharing joint venture partner in both projects.
The Company currently has 444,887, 086 shares issued and outstanding.