Circumspect Gold Coast reigns in claims

Lifting of ASIC order puts 'Director' back on track

SYDNEY — Gold Coast Prods. is back in business.

The production company, which had its fund-raising halted Feb. 5 by the Australian Securities and Investment Commission for cold-calling prospective investors and for later embellishing the details of its projects, has clarified its position in writing, and promised not to make claims that aren’t in the document.

The lifting of the ASIC order puts fund-raising of A$15 million ($7.5 million) for the production of debut helmer Patrick Hughes’ “The Director” back on track. With shares worth $375,000 already issued, Gold Coast has until June 1 to exercise its option on the feature or renegotiate an extension.

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