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BLAINE, WA., September 16, 2015 /PRNewswire/ Hollund Industrial Marine, Inc. (Pinksheets: HIMR.PK), an underwater forest management company, announced today that the Company has made necessary adjustments to its Board of Directors and executive staff, following a capital infusion, in order to stabilize operations and leverage opportunities.
Peter Meier, President of Hollund Industrial Marine, Inc., made the following statement:
"I have carried this company as far as I can. We are now in need of a significant change in order to stabilize current operations, and too leverage the capital and other opportunities we have currently secured for the Company. To that end, effective immediately, I will step down as President of HIMR.
Longtime supporter and Hollund’s largest investor, Mr. Lonnie Hayward, will step into the role of Chairman & CEO.
I will maintain a board seat until the end of the year unless otherwise required to remain on. I do however expect that the Hollund Board of Directors will appropriately expand to a 5 person board, comprised of qualified independent third parties and investors.
These moves were prompted partly by our need to become laser focused on building upon the relationships formed – that will assist us with managing the contracts we have secured and/or have been diligently developing over the past few months. The other motivation is a capital infusion made by a non-toxic, long term investor. The investment was made under the conditions that the initial portion of a $5,000,000 commitment would be used to properly organize and grow the Company.
These changes are just the beginning of what we believe will be an unprecedented turn around by the Company. We do not intend to disappoint.”
Going forward, the public will be addressed by Mr. Lonnie Hayward as Chairman and CEO of Hollund Industrial Marine, Inc.
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.
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.
SOURCE Hollund Industrial Marine, Inc.
Contact Info:
Name: Lonnie Hayward
Email: Send Email
Organization: Hollund Industrial Marine Inc.
Website: http://www.hollundindustrial.com
Release ID: 91420
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