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Holiday Island Holdings, Inc. Addresses Previous Merger Negotiations and Announcement of the Cap Table Reorganization
Holiday Island Holdings, Inc. Addresses Previous Merger Negotiations and Announcement of the Cap Table Reorganization.
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[{"type":"text","content":"Holiday Island Holdings, Inc. Addresses Previous\nMerger Negotiations and Announcement of the Cap Table Reorganization\n\n \n\nHoliday Island, Arkansas -\nAugust 12, 2016. Holiday Island\nHoldings, Inc. (OTCPink: HIHI), a\ndevelopment stage company operating in the land development sector of the\nmarket would like to address a previous announcement made on June 10, 2016\nregarding merger negotiations with a Texas-based commercial real estate\ncompany. Holiday Island Holdings, Inc.\nhas decided not to move forward with the merger as the terms and conditions of\nthe proposed merger evolved to not be in the best interest of the Company, or\nits shareholders. \n\n \n\nOn a positive note, in an effort to keep the Company\nmoving forward with its business plan, Holiday Island Holdings, Inc. has\nentered into a formal agreement with a California-based private investment\n& consulting firm that has already provided HIHI with some short-term\ncapital needs, and the firm is in the process of helping the Company reorganize\nthe cap table to make it more attractive to both current shareholders and new\ninvestors.\n\n \n\nGene Thompson, the CEO and chief visionary behind\nHIHI states, “Holiday Island Holdings, Inc. is a publicly traded company, and\nwe have shareholders to answer to which means that we must do what is in the\nbest interest of those shareholders. As\nthe CEO of the Company, the majority of that fiduciary duty falls on me, so I felt,\nalong with the Board, Board Advisors, and certain major shareholders, it\nimperative to cancel the previous merger, and do what we know is best for the\nCompany and its shareholders; and, I firmly believe that by restructuring our\ncap table and getting some additional market maker involvement, it will create\nenormous near and long-term value for all of our shareholders.”\n\n \n\nHoliday Island Holdings, Inc. will keep both its\nshareholders and public completely informed of the entire process as the\ndetails continue to unfold. Be sure to\nwatch out for regular press releases about the Company’s progress and the\nstatus of the cap table restructuring. \nFor additional information, please visit the Company’s website at www.holidayislandholdings.com. \n\n \n\n \n\nAbout Holiday Island\nHoldings, Inc. (OTCPink: HIHI):...