Hollund Industrial Marine Eliminates Largest Majority of Preferred C Shares
28 Januar 2014 - 3:13PM
Marketwired
Hollund Industrial Marine Eliminates Largest Majority of Preferred
C Shares
HIMR and Hayward Agree to Irrevocably Eliminate Preferred C
Shares -- Nullifying Dilution
BLAINE, WA--(Marketwired - Jan 28, 2014) - Hollund Industrial
Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") an
underwater forest management company, announced today that the
Company has eliminated virtually all of Mr. Lonnie Hayward's
personal holdings of Preferred C stock -- which in effect,
nullifies future dilution from these shares.
"The elimination of Mr. Hayward's preferred stock significantly
enhances our long-term value and should strengthen investor
confidence as we move into first revenues," stated Peter Meier,
President of Hollund. "This is yet another milestone reached by our
management and further demonstrates that all parties, including Mr.
Hayward, are working together for the future growth of this
company."
The Company and Mr. Hayward came to an arrangement to
irrevocably eliminate 99.5% of his holdings of Preferred C shares.
Management believes that by eliminating the largest majority of its
preferred stock, there will be substantially less dilution going
forward.
Meier concluded, "I am pleased with our arrangement to eliminate
the majority of Mr. Hayward's Preferred C stock. With our
project coming online, I firmly believe in our prospects going
forward."
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.
For investor relations Hollund Industrial Marine, Inc. Email
Contact (707) 659-6631
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