BLAINE, WA, Mar 19, 2014 (Marketwired via COMTEX) -- Hollund Industrial Marine, Inc. (pinksheets:HIMR) ("Hollund" or the "Company") an underwater forest management company, announced today that the board is considering a plan to accelerate the stock buyback program.

"The Phase 1 buyback will be determined by our revenue recognition from the Bayano project," stated Peter Meier, President of Hollund. "With logistics currently unfolding, we will seek to take full advantage of our stock price, which we perceive to be extremely undervalued at this time."

Mr. Meier continued, "When you consider the Bayano project's size, tree volume and high value timber, all of these factors suggest to us that our current capitalization is significantly less than the projected net revenues from this single project. When you further consider the size of this untapped market, along with our global expansion plans, we believe now is a perfect time to commence a repurchase program. Ideally, we would repurchase as much as 10% of the issued and outstanding shares during the first phase of the program. If successful in achieving our reduction goals in the first phase, we would seek to increase our buyback by as much as 50% in a second phase."

The board is expected to approve management's accelerated buyback program shortly upon return from the team meetings in Panama, scheduled for later this month. The Company expects to book its first revenues from the Bayano project in Q2.

Mr. Meier concluded, "Our investment in the Bayano project has set off a chain reaction of events that has everyone at Hollund excited about our upcoming meetings in Panama and thrilled about our prospects to grow the industry globally."

About Hollund Industrial Marine, Inc.

Headquartered in Blaine, WA, Hollund Industrial Marine Inc. (pinksheets:HIMR), is an underwater forest management company which seeks to align the interests of businesses, communities, utilities and governments by offering an integrated business model for underwater forest management. Hollund's model, which includes resource and needs assessment, permitting, environmental and project planning, logging and milling, adds value to reservoir 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.

Hollund Dives Into Aquatically Grown Hemp for a North Cal Study and Planned Project

New Growth Opportunities Emerge to Leverage Underwater Timber Operations & Enhance Models for Project Sustainability

BLAINE, WA, Mar 18, 2014 (Menafn - Marketwired via COMTEX) --Hollund Industrial Marine, Inc. (pinksheets:HIMR) (pinksheets:HIMR) ("Hollund"), an underwater forest management company, announcedtoday that it will participate in a Hemp study with North Cal WoodProducts, Inc. ("North Cal").

North Cal is conducting a market research study on Hemp, with a goal of launching a pilot project to cultivate organic hemp in aquaponicsystems applying new aquaculture and biodynamic farming practices.  Hollund's interest in North Cal's project revolves aroundpossibilities being explored by the Company to enhance thesustainability and profitability of underwater timber projects --such as the Bayano project in Panama -- as well as to diversify intonew markets.

"At Hollund, we are committed to reducing tropical deforestation byharvesting the abandoned rainforests submerged in Panama's BayanoReservoir, and in the countless other reservoirs, lakes and riversaround the world," stated Peter Meier, President of Hollund. "Withthe recent passage of the U.S. Farm Bill legalizing hemp productionfor research purposes, we are intrigued by hemp as a fiberpotentially relating to our underwater timber activities and overallenvironmental objectives."

In explaining the Company's move, Sheldon Romain, Vice President ofHollund stated, "Hemp is a durable, renewable fiber and, likeunderwater wood, represents a next frontier opportunity for naturalresource exploration and development. Through our participation inthis study, we look forward to learning more from North Cal and theirindustry partners, about aquatically grown hemp, the Hemp industry,aquaculture, and biodynamic farming."

About North Cal Wood Products, Inc. Headquartered in Ukiah,California, North Cal Wood Products, Inc. ("North Cal") is ThePremier Reclaimed Woods Company, with an extensive portfolio ofhigh-profile commercial and residential installations. A FSC(R)certified company, North Cal specializes in the reclamation,remanufacture, sales and distribution of reclaimed and recycledwoods. The Company works with award-winning builders, designers andarchitects to match its finest quality and performance to theirinspired designs. To learn more about North Cal, visit  www.NorthCal.com To purchase North Cal's products online, visit  www.OnlineLumberStore.com

About Hollund Industrial Marine, Inc. Headquartered in Blaine, WA,Hollund Industrial Marine Inc. (pinksheets:HIMR), is an underwaterforest management company which seeks to align the interests ofbusinesses, communities, utilities and governments by offering anintegrated business model for underwater forest management. Hollund'smodel, which includes resource and needs assessment, permitting,environmental and project planning, logging and milling, adds valueto reservoir communities.

This news release contains forward-looking statements within themeaning of the Private Securities Litigation Reform Act of 1995 (the"ACT"). In particular, when used in the preceding discussion, thewords "estimated," "believe," "optimistic," "expect," and similarconditional expressions are intended to identify forward-lookingstatements within the meaning of the ACT and are subject to risks anduncertainties, and actual results could differ materially from thoseexpressed in forward-looking statements. Such risks and uncertaintiesinclude, but are not limited to, unfavorable market conditions,increased competition, limited working capital, and failure toimplement business strategies, actions by regulatory agencies, andother risks.

For investor relations:
Hollund Industrial Marine, Inc.
Email Contact
(707) 659-6631

SOURCE: Hollund Industrial Marine, Inc.