SOURCE: Holiday Island Holdings, Inc.

April 11, 2016 08:00 ET

Holiday Island Holdings Enters Into a LOI With Holiday Island Development Corporation to Acquire Commercial Property

HOLIDAY ISLAND, AR--(Marketwired - Apr 11, 2016) - Holiday Island Holdings, Inc. (OTC PINK: HIHI), a development stage company operating in the land development business, announced today that it entered into a Letter of Intent with Holiday Island Development Corporation, the exclusive developer of Holiday Island, Arkansas to acquire a commercial property strategically located at the Holiday Island shopping center.

This is a first in a series of planned real estate acquisitions at Holiday Island from HIDC valued at $35 million. The property is strategically located to expand the shopping center's existing medical complex.

Gene Thompson, CEO of HIHI, stated that, "We are very pleased to make this announcement that will kick off our planned strategy to acquire, further develop, market, and resale commercial and residential properties at Holiday Island. We expect the acquisition will be final in approximately 45 days, as it is the time necessary to complete the related due diligence and secure financing."

Holiday Island Holdings, Inc. has the unique opportunity to acquire, further develop, market, and resell all of the real estate holdings of the exclusive developer of Holiday Island, Arkansas, and take his place with exclusive developer rights, including planning and zoning for the entire community, and the exclusive ability to expand the boundaries of Holiday Island.

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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.

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