BOSTON, Aug. 5, 2009 (GLOBE NEWSWIRE) -- Gold Coast Mining Corp. (Pink Sheets:GDSM), announced today that its Board of Directors has 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.
It is management's expectation that Max Media will be trading under its new symbol by the record date. Additionally, Max Media is preparing its financials to file with Pink Sheets, which will allow the company to have current financial information available.
Jason Cooper, Interim CEO of Gold Coast Mining Corp., commented, "The setting of the record date for our previously announced dividend, as well as the distribution rate, is a big step forward for the Company in its pursuit of restoring shareholder value. Each of our shareholders will now have the opportunity to participate in the future potential of Max Media as an individual Max Media shareholder. "
Mr. Cooper further stated: "Max Media management has committed to filing current financial information in order to achieve transparency for its shareholders and to shorten the holding period on the dividend shares. "
Max Media Group (MMG)
MMG operates 10 Hot Web sites including www.hotautoweb.com, www.hotrvweb.com, www.hotboatweb.com and www.hotcharityweb.com, among others. The sites were founded in 2001 with the current management assuming control in January of 2009. In the past 5 years, hotautoweb.com alone has generated $17 million in sales in the Classic Car segment. The Company is now initiating plans to establish a national network of trained independent representatives to market its various website listing services to collectors, charities, consumers and dealers. The Company, as an objective professional 3rd party, enables customers to purchase items (mostly sight unseen) without the fear of hidden defects or problems. The Company allows sellers to bypass the learning curve of how to establish a successful online auction while allowing the seller personal privacy protection all while reaching a worldwide audience of internet buyers with little time or effort.
MMG seeks to become the international premier marketer and publisher of classic cars, higher end vehicles, rv's, boats, motorcycles, planes and other valuable items for individuals, dealers and charities. This will be accomplished by a network of more then 100 independent representatives that complete an exhaustive documentation and history of every item listed with numerous detailed photos, video documentation and the "story," as told by the owner.
MMG revenue is derived from listing fees, both flat rate and percent of sale value, independent representatives subscription fees, and the monetization of website traffic. Currently, MMG generates between $5 to $15 eCPM (dollars earned per 1000 page views).
The management team of MMG consist of:
G. James Grady, CEO. Mr. Grady has over 40 years experience in the automotive industry. Mr. Grady has served as President of Retail Division for Don Olson Tire Centers where he was responsible for the retail operations of over 30 locations throughout the State of Florida. Additionally, he has served as President/CEO for Ken Towery Firestone, Executive V.P. and Franchise Development Manager for Morgan Tire and SE Regional Manager for Franchise Operations and Development for Tuffy Automotive.
Stephen G. Reed, CFO. Mr. Reed has served as a Vice President/Trust and Investment Services Officer for Bank One, Wells Fargo and Fifth Third Bank. Mr. Reed was also an Employee Benefits Consultant for Wausau Insurance Companies.
About Gold Coast Mining Corp.
Gold Coast Mining Corp. is pursuing mining acquisitions and joint ventures. The Company currently has a joint venture with Western Sierra Mining Corp. for its Ore Cache Mine and SunGold Mine.
The Company currently has 444,887,086 shares issued and outstanding.