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Odyssey Marine Exploration Inc., which operates through its Mexican subsidiary Exploraciones Oceánicas, has signed a letter of intent to sell up to one-third of the 15 percent equity the company owns in an early stage mineral project for up to $5 million. The Tampa deep ocean exploration company (NASDAQ: OMEX), known for finding shipwrecks and lost gold, said June 19 that the transaction values the balance of Odyssey’s remaining interest in the unnamed project at $10 million. Odyssey announced in March 2018 it was taking another direction — finding and mining underseas minerals — to establish a new line of business.
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 pioneer in the field of deep-ocean exploration, reported results for the first quarter ended March 31, 2019, and provided an update on current projects. This is our core business and we’re continuing to enlarge our subsea mineral portfolio through development of new deposits, acquisition of mineral rights/deposits and through our leveraged contracting model, which allows us to earn equity in deep-sea mineral projects,” said Mark Gordon, Odyssey CEO and President. In the early stages of the Exploraciones Oceanicas (ExO) phosphate deposit, we sold 24% of the project for $27.5 million,” continued Gordon.
Odyssey Marine Exploration, Inc. (OMEX), a pioneer in the field of deep-ocean exploration, today provided an update on subsidiary Exploraciones Oceanicas’s (ExO) phosphate project in Mexico and the steps being taken to defend shareholder interests in the development of the project. Although Odyssey was pleased with the tenor and direction of these initial consultations, consistent with its efforts to secure the success of the project through appropriate legal action, Odyssey on April 5, 2019 filed its Notice of Arbitration (NOA) under Chapter Eleven of NAFTA. NAFTA mandates that a NOA may be filed 90 days after the filing of a NOI, and following the conduct of consultations. Through this most recent filing, Odyssey formally has initiated the arbitration process under Chapter Eleven of the NAFTA. Odyssey provided a public version of the NOA to the Mexican Government which will be posted on Mexico’s public access website. Should the claim proceed to a full hearing on the merits, Odyssey is confident that its position will prevail and that the company and ExO will be granted substantial damages, equivalent to the fully realized value of the project.
Odyssey Marine Exploration, Inc. (OMEX), a pioneer in the field of deep-ocean exploration, entered into a share purchase agreement with Seabed Capital, LLC on April 9, 2019, to acquire Seabed’s controlling interest in a company that holds a potentially significant subsea mineral deposit in the South Pacific in a non-cash transaction. This transaction aligns with Odyssey’s business model of acquiring and developing subsea mineral assets to create near-term and long-term value. Pursuant to the agreement, Odyssey will acquire Seabed’s equity ownership interest in a company that has already conducted significant exploration work on a promising high-value seafloor mineral resource.
Odyssey Marine Exploration, Inc. (NASDAQ:OMEX) shareholders have seen the share price descend 10% over the month. In contrast, the return over three years has been impressive. Indeed, the share price is up a very stro...
Odyssey Marine Exploration, Inc. (OMEX), a pioneer in the field of deep-ocean exploration, reports financial results for full year ended December 31, 2018, and provides an update on current projects and future plans. This means we will continue to enlarge our subsea mineral portfolio through development of new deposits, acquisition of mineral rights/deposits and through our leveraged contracting model, which allows us to earn equity in deep-sea mineral projects. Odyssey’s most advanced mineral project is the Exploraciones Oceanicas (ExO) phosphate deposit in Mexico.
In 2014 Mark Gordon was appointed CEO of Odyssey Marine Exploration, Inc. (NASDAQ:OMEX). This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of Read More...
NEW YORK, Nov. 21, 2018 -- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors,.
Odyssey Marine Exploration, Inc. (OMEX), a pioneer in the field of deep-ocean exploration, reported results for the third quarter ended September 30, 2018, and provided an update on current projects. “I’ve never been more optimistic about the long-term future of Odyssey. Cash on hand, combined with expected revenues and profit sharing from contract work on multiple projects currently underway and forecast to continue for at least another 12 months, provides us the runway necessary to fully execute our strategic plan to become a dominant force in the emerging seafloor minerals space,” stated Mark Gordon, President and CEO of Odyssey Marine Exploration.
Odyssey Marine Exploration, Inc. (OMEX), a pioneer in the field of deep-ocean exploration, announced today that it has entered into agreements with a small group of institutional investors, led by large long-term holders of OMEX, to receive $5.0 million in gross proceeds in a registered direct offering through the sale of common stock and warrants consisting of 700,000 shares of the company’s common stock and 700,000 5-year immediately exercisable warrants to purchase 700,000 shares of common stock at an exercise price of $7.155 per share. If the warrants are exercised for cash in full, the company would receive additional gross proceeds of approximately $5.0 million. “This funding, when combined with the expected future revenue from contracted projects and profit participation from the current recovery project under contract, is expected to fund Odyssey into 2020, based on our current budgets,” stated Mark Gordon, President and CEO of Odyssey Marine Exploration.
Shares of little known micro-cap stock Coda Octopus (NASDAQ:CODA) surged to the top of traders’ watchlists earlier this week. Will Coda Octopus deliver tasty returns for shareholders? Or will it disappoint like another deep sea story stock, Odyssey Marine Exploration (NASDAQ:OMEX), whose attempts to profit off of salvaging shipwrecks haven’t led to treasure for shareholders.