HOLIDAY ISLAND HOLDINGS, INC. HAS ENTERED INTO AN AGREEMENT TO ACQUIRE OIL & GAS INTEREST ESTIMATED AT A $500,000 RETURN

Rhea-AI Summary

Holiday Island Holdings, Inc. (OTC Pink: HIHI) has announced its agreement to acquire oil and gas interests for $150,000, consisting of $100,000 in cash and $50,000 in stock. The acquisition involves wells in Northwest Louisiana and East Texas, projected to provide over $10,000 monthly in cash inflow, totaling approximately $500,000 over five years. The deal is set to close by September 30, 2022, pending due diligence. CEO S. Gene Thompson emphasized the significance of this agreement for generating income and enhancing the company's operational expertise.

Positive

• Acquisition expected to generate over $10,000 monthly, totaling approximately $500,000 over five years.
• Deal enhances operational expertise with involvement of a seasoned oil and gas operator.

Negative

• None.

Holiday Island, Arkansas, Sept. 07, 2022 (GLOBE NEWSWIRE) -- Holiday Island Holdings, Inc. (OTC Pink: HIHI) operating in the recreational, remote living real estate market and other commercial property in the geographic markets of Texas, Arkansas, Oklahoma, Missouri, and Louisiana, announced today that the Company has entered into an agreement to acquire Oil & Gas Interest for $150,000 in cash ($100,000) and stock ($50,000).

The Seller is a highly experienced oil and gas operator and a soon-to-be HIHI shareholder. He has agreed to sell us his interest in certain wells located in Northwest Louisiana and East Texas for $10O, 000 in cash and $50,000 in HIHI common stock.

These properties are estimated to generate $10,000 + per month in cash inflow to HIHI for 5 years, or approximately $500,000 in total. The deal is scheduled to close on or before September 30, 2022, subject to favorable due diligence.

The company has a commitment from a major shareholder and investor to provide the $100,000 in cash for the deal.

S. Gene Thompson, CEO and Director, said: “This is a great achievement for the Company and its Shareholders, with the expectation of getting our first significant commercial income producing on the books shortly assuming favorable due diligence. And, if it makes, the company adds another industry expert to its 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

FAQ

What is Holiday Island Holdings' recent acquisition?

Holiday Island Holdings announced an agreement to acquire oil and gas interests for $150,000, including $100,000 in cash and $50,000 in stock.

When is the acquisition of oil and gas interests expected to close?

The acquisition is scheduled to close on or before September 30, 2022, subject to due diligence.

How much revenue is expected from the acquired oil and gas interests?

The acquired interests are estimated to generate over $10,000 per month, totaling approximately $500,000 over five years.

Who is the seller of the oil and gas interests to HIHI?

The seller is a highly experienced oil and gas operator who will also become a shareholder in HIHI.

What are the financial terms of HIHI's acquisition?

The total transaction value is $150,000, comprised of $100,000 in cash and $50,000 in HIHI common stock.