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Sovereign Exploration Associates International, Inc. Announces Plans to Recover the Spanish vessels JUNO and GALGA Tuesday January 24, 12:00 pm ET NEWTOWN, Pa.--(BUSINESS WIRE)--Jan. 24, 2006--Sovereign Exploration Associates International, Inc. (OTCBB: SVXA - News), a leader in international maritime archeology and artifact recovery, announced today that its portfolio company, SEAI of Spain, Inc. requested the Commonwealth of Virginia renew the recovery permit for the Spanish Frigate JUNO lost off the coast of Assateague Island, Virginia. ADVERTISEMENT Luis Angel Valero, President of SEAI of Spain, Inc., a SVXA portfolio company, and Peter Knollenberg, Chairman of SVXA worked closely with Spanish government officials to secure an agreement signed with the Kingdom of Spain to recover the Spanish Frigates JUNO and GALGA. Sea Research an SVXA portfolio company will be responsible for the recovery operation of the JUNO. "We will be following Spain`s archeological guidelines during the recovery and conservation of artifacts and we will adhere to the permit requirements of the State of Virginia in a collaborative effort to preserve the maritime heritage of the vessels and develop a strong cultural exchange between our two countries", stated Mr. Valero. "We had invested a significant amount of time and funds in the JUNO project before SVXA went public", explained Mr. Knollenberg who added "our shareholders, the Kingdom of Spain and the Commonwealth of Virginia will all benefit from a successful recovery of the JUNO and GALGA. We view our agreement with the Spanish Government as an important vote of confidence in our ability as a private sector company to provide a public service in helping to discover and present historical information, while contributing to educational programs. "The JUNO and GALGA represent the first of several projects that will be undertaken by our portfolio companies Sea Research and SEAI of Spain." said Robert Baca, President of SVXA. The JUNO, a Frigate of 34 guns, was lost in 1802 sailing to Cadiz with a wide variety of cargo. The GALGA with 50 guns was the El Capitaine of the 1750 fleet sank en route from Havana with "Passengers of Distinction". "As we move forward with our film series; Shipwrecks That Changed the World, we see the sinking of these and other Spanish vessels as a major component of the story." added Mr. Baca. SVXA will post background information to http://www.sea-int.com/ on the JUNO and GALGA over the next week. About Sovereign Exploration Associates International, Inc. Sovereign Exploration Associates International, Inc. (OTCBB:SVXA - News) 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, SVXA 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. Contact: Sovereign Exploration Associates International Inc. Curtis R. Sprouse, COO 781-246-7512 Fax: 781-245-7774 csprouse@sea-int.com www.sea-int.com -------------------------------------------------------------------------------- Source: Sovereign Exploration Associates International, Inc. |
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| aus der Diskussion: | SOVEREIGN EXP. Totalverlust oder die Chance schlechthin ? |
| Autor (Datum des Eintrages): | UH1d (24.01.06 18:29:12) |
| Beitrag: | 2 von 65 (ID:19857747) |
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