Holiday Island, Arkansas, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Holiday Island Holdings, Inc. (OTC Pink: HIHI), operating in the recreational and remote living real estate markets and in other viable commercial projects in the geographic markets of Texas, Arkansas, Oklahoma, Missouri, and Louisiana, announced today that the Company has executed a Definitive Agreement to participate with an experienced operator in currently producing fields in East Texas and NW Louisiana.
HIHI has now completed its due diligence review of the producing wells to more accurately determine the potential production and monthly cash flow expected over the next several years.
As a result, the monthly cash inflow – assuming no or minimal disruptions -- is estimated to be substantial. Closing of the announced transaction is dependent on the Company finalizing a convertible debt placement of $100,000 scheduled in late November 2022.
S. Gene Thompson, CEO and Director, said: “This is a great development for the Company and its Shareholders, with the expectation of getting our first significant commercial income producing investment on the books shortly.
And, when the transaction completes, the Company adds another industry expert to its professional advisory team.”
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.
HIHI Contact:
Gene Thompson, CEO & Chairman
Phone: (479) 244-6047
Email: sgenethompson@gmail.com
Website: www.holidayislandholdings.com
