Treasure & Shipwreck Recovery (OTCPK:BLIS) Completes Payoff Agreement with Primary Debtholder

Negotiated debt settlement of limits further significant share dilution in the forseeable future

FT. PIERCE, FL / ACCESSWIRE / June 29, 2023 / Treasure & Shipwreck Recovery, Inc. ("TSR" or "the Company"), trading as (OTC PINK:BLIS), announces it has successfully negotiated a Payoff Agreement with its primary debtholder that will minimize further share dilution. Currently, the total common shares issued and outstanding stands at 50,580,097, shares with no other classes of stock that is convertible to common shares

CEO Craig Huffman stated, "We were able to negotiate a mutually beneficial settlement with our primary debtholder that we believe is in the best interest of our shareholders." He continued, "We appreciate the assistance this debtholder has provided in the past, and believe this restructuring will drive value for our shareholders."

Earlier this year, TSR successfully raised equity financing that allowed the Company to increase its fleet of vessels, hire additional crew, and acquire valuable equipment / resources for treasure recovery this season. The Company has two thus successful crews for the last month working on known treasure sites for what management believes will be an epic treasure recovery season, as well as develop a variety of other revenue producing verticles.

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 owns two smaller service vessels that service and assist on sites already active and producing.