HIMR BLAINE, WA, July 22, 2013 – Hollund Indust

HIMR BLAINE, WA, July 22, 2013 – Hollund Industrial Marine, Inc. (PINKSHEETS: HIMR) (“Hollund” or the “Company”) announced today that the value of Hollund’s first concession (Lake Bayano in Panama), is estimated to reflect a minimum of $12 Million; with a top range exceeding $40 Million over the next three years.

“Our initial valuations for this concession were extremely conservative,” stated Peter Meier, President of Hollund Industrial Marine. “The original recovery value at Lake Bayano was based on twenty-five thousand trees.  Yet, much to our amazement, further timber assessment identified there to be upwards of 60% more trees than expected; with many exotic woods species.”

The project’s original recovery value was estimated at just over $12,000,000; priced conservatively lower at $500 per tree.  With new volume estimates nearing 50k trees and many more exotic woods species than initially considered, the recovery value ballooned to as much as $60 Million.   In the spirit of responsibly managing expectations however, HIMR executives determined that, “the top line numbers should moderately place as high as $42 Million,” continued Meier.

“As mentioned in the ‘State of the Company Address,’ we will be on Lake Bayano sometime within the next 90 days.   This will give us the ability to begin generating revenues on this first concession within the next 120 days.  We approximate a completion time of 3 years given the TigerLynk will be on LakeBayano in 2014.”

In the company’s address, Mr. Sheldon Romain, VP of Hollund, discussed the company’s go forward plan to include: (1) Harvesting operations to begin during September/October, (2) Developing strong relationships with the indigenous people by employing expert labor, (3) Generating healthy revenues prior to the TigerLynk being deployed in 2014, and, (4) Leveraging new partnerships in the region to maximize revenues through the efficient utilization of the resource.

Meier concluded, “The portion of the concession we are focused on is just 1,000 hectares.  With the TigerLynk, we expect to complete this particular recovery within three years.   Given that the entire concession is 2,400 hectares, with the TigerLynk already in the water, and likely a second robotic arm to follow – by the time we compete the initial 1,000 hectares – we will be able to immediately initiate and complete harvesting operations on the remaining 1,400 hectares over the remaining two year period.   This is a revenue stream which has not been approximated in any of our findings or disclosures.   All things considered, while this is likely to be one of the smallest concessions Hollund will secure, Lake Bayano certainly shows great promise in delivering healthy revenues to HIMR over the next five years.”