SOURCE: Holiday Island Holdings, Inc.

March 08, 2016 08:00 ET

Holiday Island Holdings Is in Final Negotiations With Holiday Island Developer for $35 M Project

HOLIDAY ISLAND, AR--(Marketwired - Mar 8, 2016) -  Holiday Island Holdings, Inc. (OTC PINK: HIHI), a development stage company operating in the land development business to become a leading developer in this part of Northwest Arkansas, and the exclusive developer of Holiday Island, Arkansas, announced today that the Company is in final negotiations with the developer of Holiday Island, Arkansas to move forward with a $35 M real estate project.

Gene Thompson, CEO, stated, "We are excited about our progress with this on-going and final negotiations to secure a real estate purchase agreement with the exclusive developer of Holiday Island, HIDC. Our first purchase would be the 20 acre Shopping Center, including an additional 20 acres of un-platted land, with 19 tenants producing approximately $750,000 in annual rental income. Operating expenses are approximately $121,000 per year and with an annual net operating income of $644,000."

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.

We expect our shareholders will be excited about this as it is another development in the Company's efforts to enhance stock liquidity and shareholder value.

Safe Harbor for Forward-Looking Statements

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.

Contact Information

  • Contact:
    Gary Tilden
    COO & Director
    Holiday Island Holdings, Inc.
    3 Parkwood Drive, Suite C, Holiday Island, AR 72631
    Phone: 909-730-9169

    IR Contact:
    UPTICK Newswire LLC
    Brittney Lewellen
    Phone: 602-441-3474
    blewellen@upticknewswire.com
    www.upticknewswire.com