SOURCE: Hollund Industrial Marine, Inc.

Hollund Industrial Marine, Inc.

November 09, 2011 16:22 ET

Hollund Industrial Marine Inc. Announces Retirement of 200 Million Shares Outstanding; Approximately 41% of Shares Outstanding

DENVER, CO--(Marketwire - Nov 9, 2011) - Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) (www.HollundIndustrial.com) announced today that the Company has reduced the Issued and Outstanding Common Shares (I/O) by a substantial 41.5%.

According to the Company, the Issued and Outstanding Common Shares were reduced by 200,000,000 Shares resulting in a new I/O of 282,002,772 Shares and a Public Float of 39,301,211 Shares. Management believes this action demonstrates a commitment to the common shareholder to improve the share structure, thus adding value for all shareholders.

The company had signed a contract with a vendor, which it is canceling because their services were not rendered. The cancellation of the contract will cause the vendor to return their shares to the company's treasury.

"This is a very positive step forward in improving the overall capital structure and will further enhance value to our shareholders," stated President Michael Lacy.

About Hollund Industrial Marine, Inc.
Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) designs, develops and markets the patented Tiger-Lynk remote operated machine with underwater vision enhancement systems (U.S. Patent #6,024,145).

Tiger-Lynk is comprised of a vessel-mounted robotic manipulator that can provide a wide array of underwater services in extreme murky, muddy and other limited vision conditions at depths of up to 180 feet.

The Company is focused on the marketing and commercialization of the Tiger-Lynk Technology for underwater forestry and construction, flood emergency services and disaster response, and offshore drilling markets.

For more information visit the Company's websites at: www.HollundIndustrial.com and 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