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Holiday Island, Arkansas--(Newsfile Corp. - November 30, 2020) - Holiday Island Holdings, Inc. (OTC Pink: HIHI) - operating in the recreational and remote living real estate market - released the news today that The company - through its real estate advisor - continues to make progress on its targeted RV park located in north Texas. The purchase arrangement is in its contracting phase, and due diligence continues.
A funding source in Houston has verbally offered to fund the planned transaction, and then lease the property to HIHI for operational purposes. At this time we anticipate - due to Covid-19 concerns and U.S. election issues - that a planned closing of this purchase may not occur until the first quarter of 2021.
Additionally, our advisor has identified several other prospective acquisitions for the Company to consider, and it is conducting preliminary due diligence on each of them. We hope to report positive progress within the next several weeks."
S. Gene Thompson - the Company's CEO - said: "We continue to make significant progress on this acquisition now moving into the expected final financing and closing phase. We will keep you advised or our progress."
He also commented: "This park is high yield as is, and it is suitable for extensive expansion after it is acquired, including an increase in RV rental spaces, the addition of RV rental units owned by HIHI, and the purchase for rent of cabins and tiny homes. We particularly like the Texas market due to its substantial and continuing growth, especially those areas that are within one to two hours from the five or six major demographic markets in the State."
Holiday Island Holdings, Inc. will keep both its shareholders and 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/69158