SOURCE: Hollund Industrial Marine, Inc.

June 30, 2014 08:18 ET

Hollund & Partners Get Green Light to Begin Full-Scale Operations at Bayano Reservoir

HIMR Officially Set to Generate First Revenues From Underwater Timber Harvesting; Final Permit Received

BLAINE, WA--(Marketwired - Jun 30, 2014) - Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") an underwater forest management company, announced today that Bayano Lake Wood Products Corp. ("BLWP"), a Panamanian company formed between Hollund and B&B Madera ("Senior Partner"), has been officially cleared to begin full scale underwater timber harvesting operations on the Bayano Reservoir effective immediately.

"It has been a sometimes frustrating but necessary journey in order for us to realize this major milestone," said Peter Meier, President of Hollund. "I am excited to say that we stayed with it and can finally look forward to seeing the crews on the lake harvesting and landing timber."

"We remained positive and focused while we waited for the permitting process to resolve," Mr. Meier went on to explain. "The extra time gave us an opportunity to work with our Senior Partner to improve on-site infrastructure, logistics, and forge new partnerships. We also began discussions with industry participants on implementing aquaculture operations as it relates to the Bayano Project."

Hollund officials say that the government issued permit allows for the project to farm tilapia, which first requires removal of the underwater forest. BLWP has been granted the exclusive timber recovery rights.

Meier concluded, "The local community wants to grow tilapia commercially for consumption and export, but the timber standing in the reservoir, literally, stands in the way of progress. We intend to go in and remove the submerged timber from our permitted area of the lake so that they can realize this important community goal. Further, while we remain fully committed to our core mission, in consultation with our Senior Partner, we are exploring aquaculture as a possible business opportunity. This could be a potential game changer, in terms of maximizing the long-term value and sustainability of our underwater timber projects, as well as enhancing our ability to secure financing."

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.

Contact Information

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