Holiday Island, AR -- (ReleaseWire) -- 08/12/2016 --Holiday Island Holdings, Inc. (OTCPink:HIHI), a development stage company operating in the land development sector of the market would like to address a previous announcement made on June 10, 2016 regarding merger negotiations with a Texas-based commercial real estate company. Holiday Island Holdings, Inc. has decided not to move forward with the merger as the terms of the proposed merger evolved to not be in the best interest of the Company, or its shareholders.
On a positive note, in an effort to keep the Company moving forward with its business plan, Holiday Island Holdings, Inc. has entered into a formal agreement with a California-based private investment & consulting firm that has already provided HIHI with some short-term capital needs, and the firm is in the process of helping the Company reorganize the cap table to make it more attractive to both current shareholders and new investors.
Gene Thompson, the CEO and chief visionary behind HIHI states, "Holiday Island Holdings, Inc. is a publicly traded company, and we have shareholders to answer to which means that we must do what is in the best interest of those shareholders. As the CEO of the Company, the majority of that fiduciary duty falls on me, so I felt, along with the Board, Board Advisors, and certain major shareholders, it imperative to cancel the previous merger, and do what we know is best for the Company and its shareholders; and, I firmly believe that by restructuring our cap table and getting some additional market maker involvement, it will create enormous near and long-term value for all of our shareholders."
Holiday Island Holdings, Inc. will keep both its shareholders and public completely informed of the entire process as the details continue to unfold. Be sure to watch out for regular press releases about the Company's progress and the status of the cap table restructuring.
For additional information, please visit the Company's website at www.holidayislandholdings.com.
About Holiday Island Holdings, Inc. (OTCPink:HIHI)
Holiday Island Holdings, Inc. is operating its core business in land development in a continued effort to become the exclusive developer of Holiday Island, Arkansas. This development includes an existing 35-acre shopping center and over 1,000 acres of multi-acre parcels. The company is in the process of further developing a town poised to become the largest community between Northwest Arkansas Metroplex and Branson, Missouri, and dominate the local retail, commercial, and residential markets.
Forward-Looking Statements Disclaimer:
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are contained in the Edgar Archives of the Securities and Exchange Commission at www.sec.gov.
Gene Thompson, CEO
Source: UPTICK Newswire