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Holiday Island Holdings (OTC Pink: HIHI) announced a Definitive Agreement to collaborate with an experienced operator in producing fields located in East Texas and NW Louisiana. The company has completed due diligence on the wells, estimating substantial monthly cash inflow with minimal disruptions. The transaction's closure hinges on finalizing a convertible debt placement of $100,000, anticipated in late November 2022. CEO S. Gene Thompson described this development as significant for the Company's growth and shareholder value.
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.