Holiday Island Holdings, Inc. is Cancelling the Merger With XA Interactive, Inc. and it Will Emerge With New Industry Experienced Executives, New Oil & Gas Business Plan, and a Significant Income Producing Asset
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Holiday Island, Ark., Jan. 03, 2024 (GLOBE NEWSWIRE) -- Holiday Island Holdings, Inc. (OTC: HIHI) (the "Company") – operating in the Secondary Recovery of Oil & Gas Industry – released the news today that it is cancelling the merger with XA Interactive, Inc., and it will emerge with new industry experienced executives, aggressively pursuing Oil and Gas opportunities, and a significant income producing asset.
The Merger is being cancelled as numerous significant omissions were discovered in the Company's due diligence.
The Company added Glenn Klinker, who will become its Chief Operating Officer responsible for the Oil & Gas operations. Also, the Company will hire a high profile Advisor to head up Capital Raises and Regulation Compliance.
In addition, the Company has engaged two Hispanic specialists to perform Capital Raises.
The Company has interest from several sources to raise acquisition and development funds.
Gene Thompson – CEO and Chief Strategist of Holiday Island Holdings said, “Emerging from merger cancellation with an income producing asset (Oil Well in South Texas) moves us from a Development Stage entity to a full-scale operating company.”
"Our primary focus is to locate and close acquisition opportunities in the Secondary Recovery of Oil and Gas segment of the industry adding revenues and earnings to our books that we expect to have a positive effect on our stock.”
“Adding industry-experienced executives to our team is a great achievement.”
Holiday Island Holdings, Inc. will keep both its shareholders and the public completely informed of the entire process as the details continue to develop. Please watch for press releases about the Company’s progress. For additional information, please visit the Company’s website at www.holidayislandholdings.com.
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: sgthompson@holidayislandholdings.com
Website: www.holidayislandholdings.com
FAQ
Why did Holiday Island Holdings, Inc. (HIHI) cancel the merger with XA Interactive, Inc.?
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What is the company's plan with regards to raising acquisition and development funds?
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