BLAINE, WA--(Marketwired - Jan 28, 2014) - Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") an underwater forest management company, announced today that the Company has eliminated virtually all of Mr. Lonnie Hayward's personal holdings of Preferred C stock -- which in effect, nullifies future dilution from these shares.
"The elimination of Mr. Hayward's preferred stock significantly enhances our long-term value and should strengthen investor confidence as we move into first revenues," stated Peter Meier, President of Hollund. "This is yet another milestone reached by our management and further demonstrates that all parties, including Mr. Hayward, are working together for the future growth of this company."
The Company and Mr. Hayward came to an arrangement to irrevocably eliminate 99.5% of his holdings of Preferred C shares. Management believes that by eliminating the largest majority of its preferred stock, there will be substantially less dilution going forward.
Meier concluded, "I am pleased with our arrangement to eliminate the majority of Mr. Hayward's Preferred C stock. With our project coming online, I firmly believe in our prospects going forward."
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.