Treasure & Shipwreck Recovery Enters into Agreement for Large Shipwreck Area Targets
ST. PETERSBURG, Fla., Nov. 26, 2019 (GLOBE NEWSWIRE) -- via NetworkWire – Treasure & Shipwreck Recovery, Inc. (“TSR” or “the Company”) (currently trading on the OTC as BLIS) announces that it has entered into a purchase agreement to acquire the data and coordinates from shipwreck scans and technical mapping covering up to 60-mile-long areas off the east coast of Florida. This information will be used by crews in the immediate future for exploration and expected shipwreck recoveries. The scans and data represent years and thousands of hours worth of work off Florida’s coast in an area where there are hundreds of known wrecks, many being historical and unexplored, with pinpoint data for locations of numerous identified and many unidentified wrecks and artifacts. The scans represent years of data from magnetometer and other scanning technologies down to the exact coordinates and categories of wreck quantities – some identified and many to be identified. Most importantly, such areas are outside the state waters of Florida and, thus, are open to federal law and admiralty claims to be filed for shipwrecks found and to be claimed by TSR.
“These coordinates and the research behind them represent a major coup for TSR, since they include years of scans done with great research and exploration and ready-to-dive-and-recover targets that we have acquired down to the pinpoint locations, even including documented evidence of what exists,” stated Craig A. Huffman, acting CEO of TSR. “Together with new partners who will operate our main vessel as well as use partner vessels, we will be able to immediately exploit some of these locations, which hold known artifacts that can be immediately recovered and held as assets of TSR.”
The acquisition of such data is in keeping with TSR’s business plan, which is to use the work of others rather than relying upon raw searches of unknown or only suspected areas. While the identity of TSR’s data acquisition partner is confidential, the partner’s work in the field over the 60 or so miles in length off the east coast of central Florida represents thousands of targets, many of which add up to identified shipwreck areas and trails that can lead to large finds of valuable artifacts. TSR is currently partnering with operational entities that will take on much of the costs of such exploration while using ship and technical resources available from TSR, as needed – all in cost and expense savings to the Company.
TSR will keep shareholders and the public advised as work progresses in such areas, together with introduction of operational plans and partnerships.
FORWARD LOOKING STATEMENTS: This press release and the statements of representatives of TSR. (the “Company”) related thereto contain, or may contain, among other things, “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are “forward-looking statements,” including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as “guidance,” “projects,” “may,” “could,” “would,” “should,” “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “ultimately” or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company’s actual results (including, without limitation, TSR’s ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.
COMPANY CONTACT: Website: www.treasurewreck.com
Craig A. Huffman EMAIL: Craig@treasurewreck.com
INVESTOR RELATIONS: TELEPHONE: (877) 723-5477