Odyssey Marine Exploration to Acquire Ocean Mineral Project
Odyssey Marine Exploration, Inc. (OMEX)
US:NASDAQ Investor Relations:
ir.odysseymarine.com/investor-relations
Company Research
Source: GlobeNewswire
TAMPA, Fla., Aug. 20, 2018 (GLOBE NEWSWIRE) -- Odyssey Marine Exploration, Inc. (NASDAQ:OMEX), a pioneer in the field of deep-ocean exploration, has entered into a letter of intent with Seabed Capital LLC (Seabed) to acquire from Seabed an 80% interest in a holding company whose primary asset is an exclusive license for a potentially significant subsea mineral deposit. Total consideration for this acquisition is 250,000 shares of Odyssey Common Stock and an agreement that will pay Seabed a 2.5% net smelter royalty from future mine production. The deposit has strategic value to Odyssey and adds additional diversification to the company’s mineral property portfolio. Previous exploration expeditions resulted in promising high-grade ore samples and the concession is close to other mineral projects with substantial proven value. “A key value driver for the Odyssey business model is acquiring and developing seafloor mineral opportunities. As we mentioned in our last press release, we ha
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