--News Direct--
Holiday Island Holdings, Inc. (OTC: HIHI) – operating in the recreational, remote living real estate market and other commercial properties in the geographic markets of Texas, Arkansas, Oklahoma, Missouri, Louisiana, and Florida- announced today that the Company has entered into and finalized an agreement with XA Interactive, Inc. – a privately held firm specializing in Oil & Gas operations to recapitalize and grow HIHI.
A Letter of Intent was executed and filed along with a Press Release announcing the deal. Under the terms of the agreement, HIHI will pass control of the public company to XA in exchange for an undisclosed amount of cash.
The roll up of XA as a wholly owned subsidiary will initially put more than $150 million in assets on HIHI books. XA currently operates more than 100 active and producing oil wells, with aggressive plans to develop approximately 500 more over the next 36 months.
Gene Thompson, CEO and Director said: “This is a huge development for the Company and its Shareholders, as it is expected to generate significant assets, revenues, and profits from XA’s existing and future operations.
Michael Prozer, Founder and CEO of XA said: We are very pleased to make this mutually beneficial arrangement with HIHI, and we look forward to building the Company to maximize Shareholder Value and Stock Liquidity.
Contact:
Josephine Vargas, Executive Administrator, XA Interactive, Inc.
Phone: 407-664-2929
Email: josephine@xainteractive.com
Website: www.xainteractive.com
Investor Relations:
Controlled Capital
112 W 34th St
New York, NY 10120
Direct - (917) 584-7042
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.
Contact Details
Josephine Vargas
View source version on newsdirect.com: https://newsdirect.com/news/holiday-island-holdings-inc-has-finalized-an-agreement-with-xa-interactive-inc-to-recapitalize-the-company-initially-with-150-miilion-in-assets-801452404
