Hollund Industrial Marine to Initiate Stock Buy Back
January 30 2014 - 9:03AM
Marketwired
Hollund Industrial Marine to Initiate Stock Buy Back
HIMR Looks to Leverage Resources for 5 Billion Share Repurchase
Program
BLAINE, WA--(Marketwired - Jan 30, 2014) - Hollund Industrial
Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") an
underwater forest management company, announced today that subject
to final board approval, the Company plans to initiate a two-phase
stock buyback program to reacquire up to five billion shares of its
common stock.
Peter Meier, President of Hollund, stated, "Restoring
shareholder value and investor confidence in our market is critical
to our long-term success and remain primary objectives for this
management. We believe this can partly be accomplished with a
share buyback program."
Now that 99.5% of Mr. Lonnie Hayward's Preferred C shares have
been eliminated -- substantially mitigating dilution -- management
intends to initiate a plan allowing Hollund to repurchase and
retire, between two billion and five billion common shares within
two phases. While details have not been disclosed, Peter Meier
suggested that funding the initiative would partly be accomplished
utilizing a portion of the revenues generated from the Company's
first project in Bayano.
Meier continued, "We intend to do two things here at Hollund.
One, build the company into a global leader in underwater forestry,
and two, as much as possible, grow and protect shareholder value.
We are confident that a share repurchase program will assist us in
achieving these goals as we believe the company remains
undervalued, and can think of no better way to leverage our
resources, than to buy back our own stock."
With an underwater forest recovery project in Panama on the
threshold of start-up, along with a successfully executed stock
repurchase program, Mr. Meier concluded, "shareholders could see a
tremendous opportunity emerge, as the company enters a rapid stage
of growth."
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
Hollund Industrial Marine (CE) (USOTC:HIMR)
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