BOSTON, Feb. 12, 2009 (GLOBE NEWSWIRE) -- Hot Web, Inc. (Pink Sheets:HWBI) announced today that its name change has become effective with the State of Florida. The Company's new name is Gold Coast Mining Corp. ("GCM"). Now that the name change has become official with the State, the Company can complete the process of applying for a new symbol and CUSIP Number. The new symbol and CUSIP should become effective in the next 7-10 days.
Jason Cooper, Interim CEO of Hot Web, Inc., stated, "I am looking forward to completing the name and symbol change that will be more reflective of our new direction and agenda."
Cooper further stated, "I would also like to assure our shareholders that we continue to work tirelessly to capitalize on all of our available resources to restore shareholder value. Additionally, we have some exciting developments regarding the Company's 49% interest in the Hot Web domains that we will be announcing in the next week."
About Hot Web
As previously announced, Hot Web currently owns a 49% interest in certain Hot Web online properties (www.hotautoweb.com, www.hotboatweb.com, www.hotplaneweb.com, www.hotrvweb.com, www.hotcycleweb.com). Additionally, the Company, through Presage Partners LLC, has access to a substantial number of mining assets that it is seeking to capitalize on. These mining assets include copper, gold, nickel, platinum, palladium, silver, uranium and Rare Earth Elements. The various mining opportunities are in different stages of development. Some properties are ready for drilling, others are producing and a large number of the properties are available for joint venture rather than an outright sale. The Company recently announced a joint venture with Western Sierra Mining (OTC:WSRA).