Holiday Island Holdings' Reverse Merger Unlocks XA Interactive’s Energy Expansion

Rhea-AI Summary

Holiday Island Holdings completes a reverse merger with XA Interactive, acquiring all outstanding common stock. XA Interactive is focused on drilling wells in assets valued at $135.9 million. They recently acquired 25 pumpjacks to support their drilling operations and growth in the energy sector.

Positive

• Holiday Island Holdings completes a reverse merger with XA Interactive, expanding their operations and potentially increasing shareholder value.
• XA Interactive acquires 25 pumpjacks to support their drilling operations and achieve their revenue goals.

Negative

• None.

ORLANDO, FL / ACCESSWIRE / July 27, 2023 / Holiday Island Holdings, Inc. (OTC PINK:HIHI) a Delaware corporation (the "Company," "we," "us," and "our") on July 3, 2023, we completed a reverse merger (the "Merger") with XA Interactive, Inc., a Nevada corporation (the "Subsidiary"). As a result of the Merger, we acquired all the outstanding common stock of the Subsidiary in exchange for 360,000,000 shares of our Common Stock so that the Subsidiary became a wholly owned subsidiary of the Company.

XA Interactive is now fully focused on executing its operational plan to drill wells in assets listed in the screened attached document. * These assets, under market conditions as of the date of this press release, were conservatively valued at approximately $135.9 million by Richard Bednar and Business & Financial Consultants, LLC. Michael Prozer, our newly elected Chief Executive Officer, states that, "as a company, we recognize the importance of financial credibility and maintaining transparency with our stakeholders." Prozer further adds, "having an accounting firm that specializes in oil and gas accounting reflects our commitment to sound financial practices, transparency, and instills confidence in our partners and investors. We are committed to building a company not valuable because of its secrets, but rather, because of its performance."

As part of its expansion plans, XA Interactive recently acquired 25 pumpjacks. "We are excited to announce that XA Interactive is positioning to begin new drilling operations with the addition of 25 pumpjacks to our inventory," said Michael Prozer. Prozer explains that "this acquisition is a key milestone in our commitment to growth and sustainable energy extraction." These pumpjacks, known as nodding donkeys or oil donkeys, mark a significant step towards achieving XA Interactive's drilling and revenue goals, while also positioning XA Interactive as a leading player in the energy sector. The acquisition also reflects XA Interactive's measured approach towards expansion. "XA is committed to drilling operations to increase shareholder value. While we have assets under management, it will always be appropriate to take a tempered and calculated approach to expansion." Prozer states, further explaining that "market fluctuations often occur which may have an impact either way on the valuation of our assets, including our oil and gas assets, and any investor of any company should be aware of those fluctuations. Therefore, we will always evaluate our opportunities conservatively, and try to strive for the most optimal outcomes of our expansion plans with our drilling and operating teams."

For asset information, click here*
* This attachment includes confidential information that has undergone screening to safeguard the intellectual and tangible property of XA Interactive, Inc., and its partners. The screening process encompasses various elements, including but not limited to field names, well locations, counties, fault names, geo-locations, and other sensitive identifiers.

Media Contact:

E-Mail: josephine@xainteractive.com
Company Name: XA Interactive, Inc.
Contact Person: Josephine Vargas
City: Orlando
State: Florida
Country: United States

www.xainteractive.com

Investor Relations:

Controlled Capital
112 W 34th St
New York, NY 10120
Direct - (917) 584-7042
www.controlledcap.com

THIS PRESS RELEASE CONTAINS "FORWARD-LOOKING STATEMENTS". FORWARD-LOOKING STATEMENTS ARE STATEMENTS CONCERNING ESTIMATES, PLANS, OBJECTIVES, GOALS, STRATEGIES, EXPECTATIONS, INTENTIONS, PROJECTIONS, DEVELOPMENTS, FUTURE EVENTS, PERFORMANCE OR PRODUCTS, UNDERLYING (EXPRESSED OR IMPLIED) ASSUMPTIONS AND OTHER STATEMENTS THAT ARE OTHER THAN HISTORICAL FACTS. IN SOME CASES, FORWARD-LOOKING STATEMENTS CAN BE IDENTIFIED BY THE USE OF FORWARD-LOOKING WORDS SUCH AS "ESTIMATED," "BELIEVES," "SEEK," "EXPECTS," "MAY," "WILL," "SHOULD," OR "ANTICIPATES," OR THE NEGATIVE OF THESE WORDS OR OTHER VARIATIONS OF THESE WORDS OR COMPARABLE WORDS, OR BY DISCUSSIONS OF PLANS OR STRATEGY THAT INVOLVE RISKS AND UNCERTAINTIES. MANAGEMENT WISHES TO CAUTION THE READER THAT THESE FORWARD-LOOKING STATEMENTS, INCLUDING, BUT NOT LIMITED TO, STATEMENTS REGARDING THE COMPANY AND ITS PLANS OR INTENTIONS, ESTIMATES, GOALS, COMPETITIVE TRENDS AND OTHER MATTERS THAT ARE NOT HISTORICAL FACTS ARE ONLY PREDICTIONS. NO ASSURANCES CAN BE GIVEN THAT SUCH PREDICTIONS WILL PROVE CORRECT OR THAT THE ANTICIPATED FUTURE RESULTS WILL BE ACHIEVED. ACTUAL EVENTS OR RESULTS MAY DIFFER MATERIALLY EITHER BECAUSE ONE OR MORE PREDICTIONS PROVE TO BE ERRONEOUS OR AS A RESULT OF OTHER RISKS FACING THE COMPANY. FORWARD-LOOKING STATEMENTS SHOULD BE READ IN LIGHT OF THE CAUTIONARY STATEMENTS SET FORTH HEREIN AND THE RISKS ASSOCIATED WITH AN EARLY-STAGE COMPANY THAT HAS LIMITED ASSETS AND OPERATIONS, THE COMPARATIVELY LIMITED FINANCIAL RESOURCES OF THE COMPANY, THE INTENSE COMPETITION THE COMPANY FACES FROM OTHER ESTABLISHED COMPETITORS, THE UNCERTAINTIES ARISING OUT OF THE LEGAL UNCERTAINTIES THAT DIRECTLY AND INDIRECTLY IMPACT DEVELOPMENT-STAGE COMPANIES. ANY ONE OR MORE OF THESE OR OTHER RISKS COULD CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY FROM THE FUTURE RESULTS INDICATED, EXPRESSED, OR IMPLIED IN SUCH FORWARD-LOOKING STATEMENTS. WE UNDERTAKE NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENT TO REFLECT EVENTS, CIRCUMSTANCES, OR NEW INFORMATION AFTER THE DATE OF THIS PRESS RELEASE OR TO REFLECT THE OCCURRENCE OF UNANTICIPATED OR OTHER SUBSEQUENT EVENTS.

SOURCE: XA Interactive, Inc.
via PRISM Mediawire, LLC

View source version on accesswire.com:
https://www.accesswire.com/770630/Holiday-Island-Holdings-Reverse-Merger-Unlocks-XA-Interactives-Energy-Expansion

FAQ

What is the reverse merger between Holiday Island Holdings and XA Interactive?

Holiday Island Holdings completed a reverse merger with XA Interactive, acquiring all outstanding common stock of XA Interactive.

What assets does XA Interactive plan to drill wells in?

XA Interactive plans to drill wells in assets that were conservatively valued at approximately $135.9 million.

What did XA Interactive recently acquire to support their drilling operations?

XA Interactive recently acquired 25 pumpjacks to support their drilling operations and achieve their revenue goals.

What is the goal of XA Interactive's expansion plans?

XA Interactive aims to increase shareholder value through their drilling operations and expansion plans.