BLAINE, WA--(Marketwired - Feb 20, 2014) - Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") an underwater forest management company, announced today that ANAM (Autoridad Nacional del Ambiente) has granted the remaining necessary permits, allowing for Bayano Lake Wood Products (BLWP), Hollund's Panamanian partnership with B&B Madera, to officially begin logging operations at Bayano Lake.
"Receipt of these permits is a major milestone that represents a huge step in the evolution and growth of Hollund," stated Peter Meier, President of HIMR. "All the preparation and diligence conducted by our team during the past year has set the stage for the implementation of both our short and long-term plan to build a successful forest management company."
Mr. Meier continued, "Having now overcome these administrative delays, we are eager to finally get to work in Panama, and, to witness the first logs arriving at our landing site."
Formal receipt of these permits enables BLWP to commence underwater timber recovery at the Bayano Lake Timber Project. Hollund's senior partner is now engaging full-scale operations on the lake.
Mr. Meier concluded, "We look forward to sharing with all of you, this monumental event."
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.