BLAINE, WA -- (MARKETWIRE) -- 03/22/13 -- Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) ("Hollund" or the "Company") announced today that the company has begun the process of securing its first concession in the South American Region.
"Thanks to our development teams, we have made considerable progress throughout the Latin Americas," stated Peter Meier, President of Hollund. "As it currently stands, we are in the process of securing our first concession; commissioning a preliminary study to be completed on the target asset."
Mr. Meier continued, "We have been granted the opportunity to engage surveyors to conduct a study of a particular lake within Latin America. The purpose is to determine the viability and actual timber concentration in the lake. Should the study prove favorable, Hollund will pursue moving to the next stages in securing the concession."
Management has indicated that a need for discretion limits their ability to disclose the name and location of the lake currently being surveyed. This is to "protect our interest in the prospective concession, and not to attract the unwanted attention of other competitors," stated Meier.
Mr. Meier concludes, "We are excited about this development as it is the closest we have been to securing a concession in the Latin Americas since the adjustment of our business model in mid 2012. Until the study results are in however, we cannot offer value estimates on the prospective concession at this time. Should the timber quantity be significant enough to warrant having a TigerLynk built, the intrinsic value of the concession is immeasurable for both HIMR and our shareholders."
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.
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