posted
Recovery Operations on Site Containing Pay Ship Announced Jan 6, 2006 2:00:00 PM NEWTOWN, Pa.--(BUSINESS WIRE)--Jan. 6, 2006--
Sovereign Exploration Associates International, Inc. (OTCBB: SVXP), announces plans to begin operations on site CBNS-3 containing the wreck of a British grand square-rigger pay ship, the H.M.S. Tilbury believed to be one of twenty ships in the British fleet sent to Halifax in 1757 to attack the fortress of Louisburg which was fortified by the French.
Under an official Treasure Trove licensing agreement with the Nova Scotia provincial government, Artifact Recovery & Conservation, Inc. (ARC), a portfolio company of SVXP, anticipates surveying the site this spring and, weather permitting, initiate recovery operations.
While anchored off the coast of Cape Breton in September 1757, the fleet encountered winds of hurricane level. The British ship believed to have been a pay ship and carrying in excess of 500,000 gold and silver coins when it went down at St. Esprit, Nova Scotia. Of the twenty ships, nine arrived in Halifax with masts standing, two sank, and the remainder of the fleet returned to England via Newfoundland.
A major focus of the exploration will be the large cargo of Spanish Pillar Dollars known to be on the pay ship. These coins were the principal coins found and used as currency in the Colonial years of America.
Robert Baca, CEO of SVXP, commented on the historical importance of the wreck site saying, "The H.M.S. Tilbury is another example of SVXP's valuable inventory of shipwrecks. We are very optimistic about the opportunities this shipwreck represents to our recovery operations in 2006."
Further information and operational updates will be posted on the Company's website: www.sea-int.com.
About Sovereign Exploration Associates International, Inc.
Sovereign Exploration Associates International, Inc. (OTCBB:SVXP) is a Business Development Company under the Investment Company Act of 1940 undertaking shipwreck exploration and recovery initiatives. Pursuant to Section 13 or 15(d) of the Security Exchange Act of 1934, SVXP has filed Form 8-K.
SAFE HARBOR
The statements made in this release constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the failure of the ships to contain cargo of historic, archeological or intrinsic value, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Source: Sovereign Exploration Associates International, Inc.
---------------------------------------------- Sovereign Exploration Associates International Inc. Curtis R. Sprouse 781-246-7512 Fax: 781-245-7774 www.sea-int.com
-------------------- Lil,
Dont LOSE more than you can afford to invest....LOL
I'm buying low and selling into the run...
IP: Logged |
UBBFriend: Email this page to someone!
Printer-friendly view of this topic
