Odyssey Marine Expl (AMEX:OMR)
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From Jun 2019 to Jun 2024
Odyssey Marine Exploration (AMEX:OMR), the world’s
leader in the field of deep-ocean shipwreck exploration announced today
that it has completed the pre-disturbance archaeological survey and
preliminary excavation of a Colonial period shipwreck site code-named “Black
Swan” in an undisclosed location in the
Atlantic Ocean.
The artifacts recovered from the site include over 500,000 silver coins
weighing more than 17 tons, hundreds of gold coins, worked gold, and
other artifacts. All recovered items have been legally imported into the
Unites States and placed in a secure, undisclosed location where they
are undergoing conservation and documentation.
It is believed that this recovery constitutes the largest collection of
coins ever excavated from a historical shipwreck site. They were
recovered in conformity with Salvage Law and the Law of the Sea
Convention, beyond the territorial waters or legal jurisdiction of any
country. The Company does not believe that the recovery is subject to
sovereign immunity by any nation pursuant to the Law of the Sea
Convention.
The work accomplished to date on this site has diligently followed
archaeological protocols using advanced robotic technology, and the
artifacts are now undergoing a meticulous conservation process by some
of the world’s most experienced coin
conservators.
The Company is not prepared to disclose the possible identity of the
shipwreck at this time, and may only do so after thoroughly examining
the artifacts, analyzing the research and proving the identity, if
possible, of the shipwreck.
“Our research suggests that there were a
number of Colonial period shipwrecks that were lost in the area where
this site is located, so we are being very cautious about speculating as
to the possible identity of the shipwreck,”
said John Morris, Odyssey Co-founder and CEO. “Nevertheless,
we have treated this site with kid gloves and the archaeological work
done by our team out there is unsurpassed. We are thoroughly documenting
and recording the site, which we believe will have immense historical
significance.”
“The remarkable condition of most of the
first 6,000 silver coins conserved has been a pleasant surprise, and the
gold coins are almost all dazzling mint state specimens,”
said Greg Stemm, Odyssey’s Co-founder. “We
are excited by the wide range of dates, origins and varieties of the
coins, and we believe that the collecting community will be thrilled
when they see the quality and diversity of the collection.”
The excavation of this site follows Odyssey’s
successful excavation of the SS Republic®,
a shipwreck lost in 1865 off the US coast. The deep ocean robotic
archaeological excavation of that site produced approximately 65,000
artifacts, including over 50,000 coins with a retail value of over $75
million.
The company is continuing operations on several other projects with its
ships and ROV systems, and is currently awaiting the appointment of
Spanish archaeologists following an arrangement with the Spanish
Government and the Junta of Andalucía prior
to resuming operations on the Sussex project pursuant to an
agreement with the UK Government.
For security reasons, as with the “Black
Swan” project, the company may only
announce the results of the other current projects after completion of
the excavations or delivery of the artifacts to a safe location.
About Odyssey Marine Exploration
Odyssey Marine Exploration is a Publicly Traded US Company with several
shipwreck projects in various stages of development throughout the
world. Additional information about Odyssey, the “Black
Swan” project, and the Company’s
other activities is available at www.shipwreck.net.
For additional information, please contact Natja Igney, Odyssey’s
Manager of Corporate Communications, at 813-876-1776 ext 2553.
Odyssey Marine Exploration believes the information set forth in this
Press Release may include "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995, Section
27A of the Securities Act of 1933 and Section 21E of the Securities Act
of 1934. Certain factors that could cause results to differ materially
from those projected in the forward-looking statements are set forth in
"Risk Factors" in the Part I, Item 1A of the Company's Annual Report on
Form 10-K for the year ended December 31, 2006, which has been filed
with the Securities and Exchange Commission.