BLAINE, Wash., Oct. 11, 2012 /PRNewswire/ -- Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") announced today that the Company has begun exploring options in its growth and expansion strategies – accelerating discussions with merger prospects, as the South American Project Development Team begins preparing for a possible joint venture abroad.
"Normally, the sudden viability of a microcap company would be an unlikely occurrence," stated Peter Meier, President of Hollund. "But approximately three weeks ago, Hollund and the executives of several other organizations, convened in San Francisco to discuss the future of our company. Some of the same executives came together this week in New York to get a feel for the investment community's interest in the prospective proposal for an evolved Hollund. The feedback was extremely positive; indicating to Hollund and those closely related parties, that this could be the perfect time to establish one of the most impressive full service timber companies the industry has ever seen."
Management indicates that Hollund has immediate strategic plans to further its appeal to potential merger prospects as well as an impending South American joint venture. "First, we plan to continue pursuing our share reductions," continued Meier. "We have identified new year-end targets. We also anticipate between 10% and 35% of future share reductions to derive from strategic retirement plans applied to the float."
"We have also begun to successfully raise operating capital through more accretive financings; minimizing the sale of stock for cash. To date, capital raised has been achieved thru financings positioned with longer time horizons. We have become very aggressive in the pursuit of project financing as our Development Teams appear to be honing in on very lucrative concessions. This management has also committed to the fulfillment of a PCAOB audit within the next 90 to 120 days, should the current growth possibilities prove attainable."
Meier concluded, "Our opportunity for growth and success has never seemed so immediate or as promising as it does today. We are confident that in the upcoming months, we will not be the same Hollund you see today."
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.