Hollund Industrial Marine Increases Equity & Revenue Share in Bayano Lake Timber Project
January 22 2014 - 3:45PM
Marketwired
Hollund Industrial Marine Increases Equity & Revenue Share in
Bayano Lake Timber Project
Approximately 100% Increase in BLWP Equity and Project Revenues
Strengthen HIMR Financial Outlook
BLAINE, WA--(Marketwired - Jan 22, 2014) - Hollund
Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the
"Company"), an underwater forest management company, today
announced that it has significantly increased its ownership in
Bayano Lake Wood Products -- swelling its revenue share in the
underwater timber recovery project in Panama by nearly 100%.
"This dramatic increase in equity and revenue was part of a
broader agreement with our senior partner at Bayano Lake Wood
Products," said Peter Meier, President of Hollund. "We are pleased
to have been in a suitable financial position to be able to execute
on our agreement and substantially increase our stake in this
exciting project."
The Company was required to make a final payment to the senior
partner of Bayano Lake Wood Products on December 31st, 2013, in
order to increase Hollund's equity stake and revenue
share. With initial operations slated to begin in the next few
weeks, management believes that the Bayano Lake Timber Recovery
Project should see profitability well into seven figures based on
estimated recovery values.
Mr. Meier concluded, "The Bayano Lake Timber Recovery Project
establishes Hollund's first significant revenue stream. As we focus
on the startup at Bayano, we are targeting three potential, new
projects that are significantly greater in terms of resource
development potential. Based on the current outlook, we can project
overall revenues for the next three years growing
exponentially."
About Hollund Industrial Marine, Inc.
Headquartered in Blaine, WA, Hollund Industrial Marine Inc.
(PINKSHEETS: 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.
Related Links:
http://finance.yahoo.com/news/hollund-industrial-marine-estimates-first-123300233.html;_ylt=A2KLOzEKp91SYGEAJYyTmYlQ
http://finance.yahoo.com/news/hollund-industrial-marine-secures-upwards-133300068.html;_ylt=A2KJ3CdKQKFSIxoAOB2TmYlQ
http://finance.yahoo.com/news/hollund-industrial-marine-announces-partnership-220827285.html
For investor relations Hollund Industrial Marine, Inc. Email
Contact (707) 659-6631
Hollund Industrial Marine (CE) (USOTC:HIMR)
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