SOURCE: Hollund Industrial, Inc.

June 25, 2008 11:53 ET

Hollund Industrial, Inc. Announces Temporary Restraining Order and Lawsuit

BRANSON, MO--(Marketwire - June 25, 2008) - Hollund Industrial, Inc. (PINKSHEETS: HLLD) ("Hollund" or the "Company") announced today that a lawsuit was filed by Mr. Lonnie Hayward in Case # S-084340 in the Supreme Court of British Columbia on June 17, 2008, alleging breach of a contract.

The lawsuit names as defendants John Briner, Erwin Liem and President's Corporate Group Inc. ("PCG"), a private company Mr. Liem controls. It also names as defendants Swiss brokerage Rahn and Bodmer Banquiers and Oregon transfer agent Transfer Online Inc. The plaintiffs are Hollund and Mr. Hayward.

On June 20th, 2008, Hollund was granted a temporary restraining order and an injunction restraining the transfer of 25.5 million HLLD shares that allegedly were illegally issued and transferred. Both Hollund and Mr. Hayward fear that because of the past conduct and questionable dealings relating to PCG, and because Mr. Briner and Mr. Liem improperly obtained the 25.5 million shares, the Company will suffer continuing and irreparable harm.

"This lawsuit is consistent with our commitment to protecting our legitimate shareholders, and it is our intention to fully support Mr. Hayward as we vigorously seek justice in the courts," states Michael Lacy, President and CEO.

About Hollund Industrial, Inc.

Hollund Industrial, Inc. (PINKSHEETS: HLLD) is a technology development and production company focused on the marine industry. Hollund Industrial Robotics Systems Inc, Hollund's wholly owned subsidiary, has the exclusive patents to TigerLynk technology. TigerLynk is an innovative heavy machine system being developed for remote underwater construction, forestry, mining, and flood emergency response applications.

For more information on Hollund, visit www.HollundIndustrial.com.

For more information on TigerLynk machinery, visit www.TigerLynk.com.

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.

Contact Information

  • CONTACT:
    For investor relations
    Karolina Czajka
    866-840-7219