ATLANTA, Sept. 22, 2010 (GLOBE NEWSWIRE) -- UnderSea Recovery Corporation ("UNSR") (Pink Sheets:LGAL) announced today that it has been invited to meet with the senior government officials of the Republic of Haiti on Friday, September 24, 2010 in the capital city of Port-au-Prince to sign a Joint Venture and License Agreement for the search and recovery of shipwrecks in the territorial waters of the Republic. The CEO of UNSR and a three-member team of associates spent six days in Haiti (September 8-13). During this trip, a press conference was held by Haitian government officials announcing the intent of the Republic of Haiti to sign an agreement with UNSR.
In the press conference held on Thursday, September 9th in Cap-Haitien, it was announced by governmental representatives that UNSR would be attending a meeting in Port-au-Prince with the Republic of Haiti's senior officials. This is the meeting scheduled for this Friday. UNSR has been assured that the Haitian government intends to move forward with this important Joint Venture and License Agreement.
In making this announcement, Herbert Leeming, UNSR's CEO, stated: "UNSR is obviously elated with this meeting and the proposed historic agreement with the Republic of Haiti. We pledge to move forward to begin operations in Haiti this year. We are confident this exciting development will prove to be extremely valuable for the government and, more importantly, the people of Haiti. We will not only be conducting our mainstream business of historic shipwreck recovery in Haiti, but we also plan to help bring other business ventures into Haiti which we believe will be highly beneficial to the overall economy and provide jobs and new sources of financing for the citizens of Haiti. We will release information about these additional projects as they become available. We see our involvement in Haiti as a long-term partnership with the national and local governments of Haiti and the people of Haiti as we move forward with this important partnership this year."
About the Company
The Company is engaged in the business of locating and recovering historical shipwrecks, primarily those from the 15th through 19th centuries, and other cultural resources (artifacts and other objects of historical and archaeological interest) from the world's oceans and large lakes by applying advanced technologies in an environmentally responsible manner.
Forward-Looking Statements Caution:
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
CONTACT: UnderSea Recovery Corporation Bobby Goldman, VP - Business Development 212-628-8777 (404) 826-1164 bobby777@rcn.com P.O. Box 28961 Atlanta, GA 30358
