FORT PIERCE, Fla., Sept. 07, 2023 (GLOBE NEWSWIRE) -- Treasure & Shipwreck Recovery, Inc. ("TSR" or "the Company"), trading as (OTCPK: BLIS), announces it will begin a focused search for virgin shipwrecks in an area southwest of Cape Canaveral beyond State of Florida waters by the end of September. The Company has contracted with a veteran consultant believed to know the estimated coordinates where several virgin shipwrecks are located with potential “Motherlode” amounts of treasure on board. TSR management believes this consultant has more data and surveying knowledge of this area than anyone in the world.
In particular, there are five shipwrecks that the Company is targeting and believed to have sunk in the targeted zone. It is estimated that each ship carries valuable cargo worth anywhere from $250 million to over $1 billion in current U.S. dollars, based on historical research and archives. Since these targeted wrecks are located outside three nautical miles from Florida off the Atlantic coast, they are not subject to any permits or sharing with the State beyond customary corporate taxes on profits. TSR’s success-based contract will provide 15% of all revenue generated from valuables recovered from specified wrecks to its consultant.
Upon discovery and confirmation of a wreck believed to contain high value cargo, TSR will immediately file for U.S. Admiralty ownership. An Admiralty Claim is a Federal Maritime Law action. TSR CEO, Craig Huffman, is an experienced attorney and litigator actively licensed in the State of Florida, and is capable of filing all the correct documents on behalf of the Company. Once TSR is granted the ownership, it is TSR’s in perpetuity so long as the wreck site recovery work is preformed.
Huffman added, “It has always been our vision to target this particular area for valuable shipwrecks, but it wasn’t until this year that we we secured the boating assets, resources, and man power to take on this project. Our experienced crew and divers are ready to launch this program, and I am sincerely excited to see what we discover over the coming months.”
It is important to understand that state-of-the art technology to find older shipwrecks did not exist before the U.S. Government banned searches in the Cape Canaveral area. For a long time, shipwreck recovery was not allowed by anyone on those sites. It is easy to understand why national security issues existed since these waters were so close to where the U.S. Government launched its satellite and space programs. Now, those areas are open to discovery and shipwreck search without restrictions.
In addition to the Company’s new focused and aggressive search program for high value treasure assets, it plans to make a number of strategic developments over the coming months to drive shareholder value.
About Treasure & Shipwreck Recovery
Treasure & Shipwreck Recovery, Inc. (Currently trading as BLIS) conducts shipwreck and treasure recovery from shallow shipwreck finds in the Caribbean and North America. Through certain exploration, survey and recovery techniques, we use innovative methods and state-of-the-art technology to provide access to known wreck site areas, as well as plans to explore key suspected large unrecovered wreck sites outside of State of Florida waters. We intend to expand into media projects involving games, television and sales of artifacts using our web development methods and expertise. We now own the following vessels: the R/V Bellows large recovery and search vessel, the M/V Bottomline on site recovery vessel, a second on site recovery vessel, a leased survey vessel, and two smaller vessels that service and assist on sites.
Please follow TSR at our Facebook Page: https://www.facebook.com/treasurewrecked.
Our website will be updated as new matters are announced including recoveries, media developments, and advances with the gaming division at www.treasurewreck.com. Also, visit our Instagram at https://www.instagram.com/treasurewrecked/. TSR also has a revenue sharing agreement with World of Treasure, and the NFT collection can be found at www.WorldOfTreasure.io.
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.
SOURCE: Treasure & Shipwreck Recovery, Inc.