HIMR News

Hollund Industrial Marine Explores Investment Bank Prospects to Secure Up to $8 Million in Project Financing

2012-08-03 09:25 ET - News Release

BLAINE, Wash., Aug. 3, 2012 (GLOBE NEWSWIRE) -- Hollund Industrial Marine, Inc. (Pink Sheets:HIMR) ("Hollund" or the "Company") announced today that the Company has been in talks with Investment Banking groups in an effort to secure non-dilutive multi-million dollar financing for projects emerging in South America.

"Due to the aggressive push our South American Development Team has made in the region, Hollund is quickly coming up on possibly securing concessions that will require significant project financing," stated Peter Meier, President of Hollund. "However, the financing vehicles we are exploring for the South American projects are outside of the routine transactions that micro-cap companies generally pursue. Given the nature of our business, the political connections and international relationships we are continuously enriching, attempting to raise project capital by way of debt conversions, 504's, Reg A's, or other sole securities based transactions, would make absolutely no sense for projects of this magnitude."

Currently the company and its development consultants are in talks with several investment banking firms who have shown a genuine interest in assisting with the project financing. People close to the company indicate that Hollund's management may actually be close to securing a deal with one of these firms. The amount of the initial round of funding is unclear but sources say, based on the underlying South American concessions, financing should be between $5 million and $8 million dollars.