Hollund Industrial Marine Set To Retire An Additional 6% Of The Outstanding Shares
BLAINE, Wash., Aug. 21, 2012 /PRNewswire/ -- Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") announced today that in anticipation of formalizing a central pending relationship, the company will retire between 400 million and 600 million shares from the outstanding common stock by August 24, 2012.
"As previously stated, we have business opportunities and prospective suitors that are too significant to overlook," stated Peter Meier, President of Hollund. "Incredibly, what we have been hard at work on for nearly the past nine months is suddenly materializing. Be it concessions, technology licenses, distribution outlets and the like, what was purely an ambition yesterday is materializing much faster than imagined."
Management has expressed its commitment to responsibly [attempt to] reorganize the company's capitalization structure hoping to produce the most positive impact for shareholder value. This goal motivated the company to currently forgo the reverse split and enact what is believed to be a more benefiting plan – the Dilution Reform Program – intended to reduce the common share count by at least 3.5 Billion common shares.
The company has a number of initiatives that management has been working on for several months. One in particular is anticipated to begin materializing in the very near future. Sources close to the company suggest this is one of the reasons for the constant acceleration of the share reduction plan.
"Our shareholders and future associates, partners and financiers want to know we have the wherewithal to create an environment that is healthy and poised for growth before they commit," continued Meier. "We are working diligently to build an infrastructure that will support significant investment opportunities and game changing partnerships that our current and future service offerings can expand from. In the next few days, we expect to be one step closer to fulfilling our loftiest of goals."
People close to the company anticipate Hollund is in the final stages of completing an initial transaction that could further secure and possibly expand the company's overall market penetration.
Additional details will be discussed during the shareholder conference call.
To visit the Hollund Industrial Marine Facebook page, please visit https://www.facebook.com/pages/Hollund-Industrial-Marine-Inc/272602472839738. To visit The Company's Twitter page, please visit https://twitter.com/HollundIndust, and for LinkedIn please visit http://www.linkedin.com/groups/Hollund-Industrial-Marine-4570816?gid=4570816&trk=hb_side_g.
About Hollund Industrial Marine, Inc.
Headquartered in Blaine, WA, Hollund Industrial Marine Inc. (Pink Sheets: HIMR) seeks to align the interests of businesses, communities, utilities and governments by offering an integrated business model for underwater forest management. Hollund's model – including resource and needs assessment, permitting, environmental and project planning, logging, milling, product branding and sales adds value for our shareholders, our partners and reservoir based communities.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "ACT"). In particular, when used in the preceding discussion, the words "estimated," "believe," "optimistic," "expect," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the ACT and are subject to risks and uncertainties, and actual results could differ materially from those expressed in forward-looking statements. Such risks and uncertainties include, but are not limited to, unfavorable market conditions, increased competition, limited working capital, and failure to implement business strategies, actions by regulatory agencies, and other risks.
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SOURCE Hollund Industrial Marine, Inc.