Blaine, Washington, USA 08 November 2013 -- (Marketwired) -- Hollund Industrial Marine, Inc., (OTC Pink: HIMR) (http://www.hollundindustrial.com/) ("Hollund" or the "Company"), an underwater forest management company, announced today that the Company has reach a milestone in the Lake Bayano Project in Panama, having solidified its partnership agreement with Bayano Lake Wood Products -- hence securing the company's first commercial underwater tree recovery project.
"This historic milestone marks a tremendous step forward in the evolution and growth of Hollund, which brings us closer to becoming a leading, global, underwater forest management company," stated Peter Meier, President of Hollund. "I would like to take this opportunity to thank our entire team for their contributions in making today's announcement possible. I'd like to further thank Bayano Lake Wood Products for affording us the opportunity to formally partner with them on this project."
Management indicated that the process of securing the Bayano Lake project was a learning experience that will weigh heavily in how the company's affairs will be managed going forward. As of now, the company and its partners are intently focused on the start-up of operations.
Sheldon Romain, Vice President of Hollund, concluded with, "I really want to thank our investors and lenders who stepped in to assist us when the need was greatest. And I would certainly like to thank our shareholders for their unwavering and continued support."
Both executives shared sentiments of enthusiasm for the future of Hollund as it heads into the milestone phase of development and growth. The company will look to provide further updates on its progress at Bayano Lake as well as other opportunities that are being considered.
About Hollund Industrial Marine, Inc.
Headquartered in Blaine, WA, Hollund Industrial Marine Inc. (OTC Pink: 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.