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 conditio
