SOURCE: Marine Exploration, Inc.

August 05, 2008 06:30 ET

Marine Exploration, Inc. Acquires Ship

DENVER, CO--(Marketwire - August 5, 2008) - Marine Exploration, Inc. (PINKSHEETS: MEXP) announced today that it has executed a bill of sale acquiring the Ocean Lady, a 128 foot, 252 ton research vessel. The Ocean Lady, outfitted to the specifications of Burt Webber of Hispaniola Ventures, Marine's joint venture partner, is docked at Jones Boatyard Miami.

About Marine Exploration, Inc.

Marine Exploration, Inc. is currently pursuing two primary projects north of the Dominican Republic for which an exclusive state of the art host country treasure-salvage contract is in place. Long term, the Company will explore up to fourteen more wrecks under the Dominican Contract and has plans in place to pursue additional multiple notable shipwrecks worldwide.

This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements.

Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.

Contact Information

  • Contact:

    Investor Relations:
    Cindy Baca
    Marine Exploration, Inc.