HOLIDAY ISLAND, AR--(Marketwired - Jun 20, 2016) - Holiday Island Holdings, Inc. (OTC PINK: HIHI), a development stage company operating in the land development, marketing, sales, and management business, announced today that the company and its proposed merging company, a Texas-based private commercial real estate company, continues to make positive and timely progress.
Gene Thompson, CEO, stated, "As we announced recently, we have been in negotiations for several weeks now, and we are currently exchanging due diligence. Since, the merging company's lender just renewed its credit facility with a 5 year fixed and 25 year amortization terms. This will continue positive net profit and cash flow."
Further Thompson stated, "Again, we are extremely pleased to make this announcement as it has a potentially huge immediate and on-going positive effect on the Company's financial condition, and it is another big step we are attempting to take to improve and sustain stock liquidity and shareholder value."
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This news release includes forward-looking statements. While these statements are made to convey to the public the company's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. Whereas management believes such representations to be true and accurate based on information and data available to the company at this time, actual results may differ materially from those described. The Company's operations and business prospects are always subject to risk and uncertainties. Important factors that may cause actual results to differ are and will be set forth in the company's periodic filings with the U.S. Securities and Exchange Commission.