BLAINE, WA--(Marketwired - May 13, 2014) - Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") an underwater forest management company, announced today the positive results from the Bayano Reservoir timber survey, performed by Bayano Lake Wood Products.
"The timber is abundant and the quality of the wood is excellent," said Peter Meier, President of Hollund. "Over 20 marketable tropical wood species have been identified. Of all the timber in the Bayano reservoir, one third of the timber is comprised of rarer valuable hardwoods, such as Cocobolo or Rosewood. The other two thirds are comprised of softwoods, such as Espave. We look forward to reclaiming these woods -- making them available to customers eagerly awaiting delivery."
Hollund's Senior Project Manager reported that a full timber harvest will commence upon the concession holder receiving the formal 'on-site' permit. No time table has been provided to the Company regarding the issuance of the on-site permit. In the interim, management indicated that the Company will remain keenly focused on refining the logistics and supply chain in preparation of launching full-scale operations, and, on project developments where there are numerous opportunities to expand the business globally.
Sheldon Romain, Vice President of Hollund said, "It is important to note that removing timber from the Bayano Reservoir is part of a broader plan by the local community to develop tilapia fish farms on the cleared areas. Historically, the submerged timber has hindered this progress. We further aim to introduce underwater forest technology to dramatically speed up our recovery process and expedite the start-up of an aquaculture industry that will provide additional sources of revenue and food that will better sustain the local community."
Mr. Meier concluded, "A growing food supply and employment base are critical to the economy and security of this region and the country. We at Hollund remain committed to the Bayano project due to the many benefits it will provide the region, including enhancing navigation and safety, improving nutrition through aquaculture, and fueling economic growth."
About Bayano Lake Project
The Bayano Lake Project is situated in the Bayano Reservoir in the Darién Province, covering approximately 1000-hectares of densely inundated rainforest. The timber has been standing submerged since 1976 when the Bayano Dam was first built and the area was flooded. The term of the concession permit is for five years, with renewal options. The goal of forest harvest activities, is the removal of accessible timber in BLWP's permitted areas, for the primary purpose of selling or processing forest products.
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.