Holiday Island, Arkansas, June 12, 2023 — McapMediaWire — 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.
Josephine Vargas, Executive Administrator, XA Interactive, Inc.
112 W 34th St
New York, NY 10120
Direct – (917) 584-7042
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