SOURCE: Blue Water Ventures International

Blue Water Ventures International

February 16, 2017 08:30 ET

Blue Water Ventures International, Inc. Enters Agreement with Under Marine Group, LTD.

GREEN COVE SPRINGS, FL--(Marketwired - Feb 16, 2017) - Blue Water Ventures International, Inc. ("BWV" or the "Company") (OTC PINK: BWVI), a historic shipwreck research and recovery company, has entered an agreement with Under Marine Group, LTD. to joint venture on future deep water wreck sites located in and around the waters of Great Britain and the Caribbean. Blue Water and Under Marine Group will be collaborating with shipwreck researchers to pinpoint locations of interest. Under the terms of the agreement, Under Marine will be responsible for funding deep water wreck operations and project specific research, and Blue Water will be responsible for additional research, technical project management and logistical overview. Blue Water CEO Keith Webb states, "Blue Water is looking forward to the opportunities this joint venture will provide for both Companies." Under Marine Group's Director Richard Smith is quoted as saying, "This is the perfect marriage of research and technical ability which will enable both companies to maximize their potential."

Under Marine Group is a team of world class, deep water salvage engineers and researchers who have compiled comprehensive research information on valuable commodities on vessels sunk in both the First and Second World Wars.

Blue Water is engaged in the business of conducting archaeologically sensitive recoveries of cargo and artifacts from various shipwrecks. Its operations to date have focused on shallow water search and recovery projects in less than 150 feet of water. This joint undertaking will enable Blue Water to branch out into deeper water wrecks that were previously inaccessible to the Company.

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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. These statements may include words such as "anticipate", believe", "expect", "intend", "may" and other words and terms of similar meaning, including in connection with any discussion of the timing or nature of future financial performance or other events. Such forward-looking statements are subject to certain risks and uncertainties including, but not limited to: our joint venture partner's ability to fund the venture's deep water projects, the venture's ability to successfully and profitably locate additional wrecks and valuable cargos, its ability to establish ownership regarding the same, our ability to raise the funding needed to sustain our operations and other factors. Because of these factors, the venture's success cannot be assured. Except as required by law, the Company disclaims any obligation to publicly update such statements.

Contact Information

  • W. Keith Webb
    President and Chief Executive Officer
    Blue Water Ventures International, Inc.