Odyssey Marine Exploration, Inc. (OMEX), a pioneer in the field of deep-ocean exploration, has obtained commitments for up to $4.2 million in funding under two separate arrangements. On December 6, 2019, Odyssey executed an agreement with a group representing existing shareholders to provide up to $2 million in funding as an advance against a portion of multi-million-dollar payment Odyssey expects to receive within the next six months. In addition, a term sheet has been executed and definitive agreements are being drafted with the group that has already committed up to $6.5 million in non-recourse legal funding for the NAFTA action for up to an additional $2.2 million.

Odyssey Marine Exploration, Inc. (OMEX), a pioneer in the field of deep-ocean exploration, reported progress on the execution of the company’s business plan. Odyssey’s business plan focuses on developing subsea mineral assets to create and realize near-term and long-term value. The company is actively expanding its subsea mineral portfolio through development of new projects, acquisition of mineral rights/deposits and through a leveraged contracting model that allows value to be realized in deep-sea mineral projects through the provision of our expert services.

Odyssey Marine Exploration, Inc. (OMEX), a deep-ocean exploration pioneer engaged in the discovery, development and extraction of deep-ocean minerals, reported results for the first quarter ended March 31, 2020, and provided an update on current company operations and projects. “While the Covid-19 pandemic has affected businesses around the globe, Odyssey has continued to make significant progress towards achieving our key objectives while temporarily transitioning our corporate office to a virtual environment,” said Mark Gordon, Odyssey Marine Exploration’s Chief Executive Officer and Chairman of the Board of Directors. While we are hopeful an agreement will be reached, we must continue to pursue our North American Free Trade Agreement (NAFTA) claim against Mexico to protect our shareholders’ rights.

Odyssey Marine Exploration, Inc. (OMEX), a pioneer in the field of deep-ocean exploration, reported results for the third quarter ended September 30, 2019, and provided an update on current projects. “Odyssey has a long-proven history of successfully funding our business through various funding structures and we have various opportunities to fund additional development of our projects,” continued Gordon.

Odyssey Marine Exploration, Inc. (OMEX), a pioneer in the field of deep-ocean exploration, has acquired a 79.9% equity interest in Bismarck Mining Corporation (PNG) LTD (Bismarck) in exchange for 249,584 shares of Odyssey’s common stock. Bismarck’s primary asset is an exclusive exploration license covering approximately 320 square kilometers of subsea area containing at least five prospective exploration targets in two different mineralization types: seamount-related epithermal and modern placer gold. In connection with the acquisition by Odyssey, Bismarck and the seller entered into a royalty agreement that provides for Bismarck to pay the seller a 2.496% net smelter royalty on minerals mined from the license area.

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Odyssey Marine Exploration, Inc. (OMEX), a pioneer in the field of deep-ocean exploration, reported results for the second quarter ended June 30, 2019, and provided an update on current projects. To achieve this, we intend to continue development of our own projects, acquire other mineral rights/deposits and earn equity in deep-sea mineral projects through our leveraged contracting model,” said Mark Gordon, Odyssey Chief Executive Officer and Chairman of the Board. Odyssey recently announced the acquisition of a 79.9% equity interest in Bismarck Mining Corporation (PNG) Limited.

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Odyssey Marine Exploration, Inc. (OMEX), a pioneer in the field of deep-ocean exploration and project development, reported results for the full year ended December 31, 2019, and provided an update on current projects and future plans. “In spite of the world-wide changes taking place due to COVID-19, the Odyssey team remains fully engaged in moving projects forward while working remotely,” stated Mark Gordon, Odyssey Chairman and CEO.

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