$HIMR ~ Hollund Industrial Marine Set to Finalize Exclusive Technology License:
HIMR Targets August 2nd for LOI - Solidifying Expectations to Control Patented Underwater Logging Technology in All Capacities.
BLAINE, Wash., July 30, 2012 (GLOBE NEWSWIRE) -- Hollund Industrial Marine, Inc. announced today that the company expects by Friday, August 2nd, 2012, to have completed negotiations concerning the company's acquisition of an exclusive license for the patented underwater logging technology.
"For the past few weeks, we've been negotiating with the technology owner to secure a multi-year exclusive agreement for the rights to market and operate the patented underwater timber harvesting robotic system," stated Peter Meier, President of Hollund Industrial. "It is expected that we will execute a Letter of Intent by the close of this business week -- with the formal agreement to quickly follow."
People close to the company indicated that talks concerning the exclusive license were extended due to positive discussions around Hollund having the right to also manage concessions outside of timber harvesting. Given the capabilities of the underwater robotic system, the technology also has the capacity to dredge underwater, as an example. This affords Hollund the ability to secure concessions -- for example -- from gold mining companies requiring underwater dredging services to extract gold from the sea floor.
"We are laser focused at this time on securing underwater tree harvesting concessions above all else," continued Meier. "However, having the ability to secure other concession types for all underwater resource endeavors keeps the technology active and relevant. Our right to operate this technology in its fullest capacity greatly strengthens our position within the mining and underwater resource space; allowing for additional profit centers."
Management indicates an exclusive license agreement will allow Hollund to be the sole marketing group and operations manager for the technology across a number of disciplines. This includes underwater gold mine dredging, spill response clean up, disaster recovery and environmental remediation. Hollund will likely create a limited partnership arrangement with the technology owner to easily manage revenue expectations. HIMR will also likely maintain the exclusive license initially for a 3 to 5 year period with automatic renewal options should milestones be met.
Overall, securing the exclusive technology license within the next 5 days will move Hollund closer to solidifying an arrangement currently being strategized with North Cal Wood Products, Inc. This is where the value of the exclusive technology license is really monetized Meier suggested, concluding, "With over 40,000 large dam reservoirs globally, the volume of inundated forest and the harvestable timber is immeasurable. So having a relationship with one of the nation's premier reclaimed woods company and distribution sources, only helps to ensure not only will Hollund have a secured distribution outlet for our harvested timber, but our future profitability will likely be greatly enhanced due to 'premium' distribution revenue possibilities."
About Hollund Industrial Marine, Inc.
Headquartered in Blaine, WA, Hollund Industrial Marine Inc. (Pink Sheets: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.
For investor relations:
Hollund Industrial Marine, Inc.
ir@hollundindustrial.com
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