Hollund Industrial Marine disassociates itself with press release stating Blaine, Washington company is pursuing merger with Triton Logging, says statement is false and misleading
October 11, 2012
– Hollund Industrial Marine, Inc. (HIMR) ("Hollund" or the "Company") has discovered today that a press release, falsely appearing to be official, and including untrue and misleading information about Hollund and another company, Triton Logging, Inc., has appeared on several online investor communities, including Blue Chip Stocks and others.
The news release, dated October 11, 2012, falsely states that "Hollund Industrial Marine announced today that the Company has executed the Letter of Interest ("LOI") to pursue a merger with Triton Logging, Inc." Neither Hollund Industrial Marine, its officers and directors or anyone else designated or authorized by the Company has ever contacted or requested to contact Triton Logging in any fashion.
The press release goes on to state, among other false statements, that "the first meeting between the two companies has been scheduled for next Tuesday, October 16th in Orlando, Florida." There is no such meeting scheduled nor has there ever been any such meeting ever intended or discussed.
This press release was never authorized or issued by Hollund Industrial Marine and to the best of our knowledge, not authorized nor issued by the other company mentioned in the release. Further, the press release was not distributed via PRNewswire, as it erroneously states, and in no way reflects the activities, sentiment or intentions of Hollund Industrial Marine or any of its affiliates.
The press release also lists the Company's accountant/auditor and legal counsel, as well as former directors and affiliates, none of which had knowledge of this press release being created or were involved in its production or distribution in any way.
"We do not understand who or why someone would distribute this blatantly false information, but we are committed to having the online information removed as the law provides and making sure that the public and the Company's stakeholders understand that this was not issued by our Company nor anyone officially involved with the Company," said Sheldon Romain, vice president and director of Hollund Industrial Marine.
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.
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.