SOURCE: Oceanic Research and Recovery Inc.

March 04, 2009 13:00 ET

ORRV Hires Top-Ranked Investment Relations Firm

LINDON, UT--(Marketwire - March 4, 2009) - Oceanic Research and Recovery Inc. (ORRV) (PINKSHEETS: ORRV), a marine salvage and exploration company, today announced it has hired Alan Stone & Company, LLC, one of the country's top-ranked investment relations firms serving emerging companies.

The company reported that Alan Stone & Company, LLC, has been selected to promote and advise ORRV in the wake of last month's merger with RS Operations (RSOPS).

"We're extremely proud to be associated with Alan Stone & Company," said Scott Heimdal, RSOPS' President. "We are confident in its ability to help us as we begin to grow and expand our company. We expect many exciting opportunities for our company and our investors."

During the past decade, Alan Stone & Company has become one of the top-ranked investment firms serving emerging companies. During Stone's career, he has been involved in a wide variety of investor relations, investment banking, corporate finance and merger and acquisition activities. He has arranged numerous $2 million to $15 million financing and merger transactions for NASDAQ, AMEX and OTC BB listed companies.

Mr. Stone was director of the Los Angeles AMEX Corporate Focus and Security Analyst Forum, a private group of investment brokers, money managers, investment bankers and analysts.

He was an analyst and assistant portfolio manager of Merrill Lynch Asset Management's $250 million high yield "corporate bond" fund. As one of the largest buyers of corporate stocks and bonds on Wall Street, Mr. Stone worked closely with the investment community's leading underwriters. Subsequently, he joined Merrill Lunch's brokerage subsidiary, engaging in brokerage and money management activities for wealthy individuals, corporations, pension funds and institutional investors. He was also associated with Thomson McKinnon Securities and Ladenburg, Thalmann in New York City, both well-established NYSE member firms.

Meanwhile, ORRV continues work on its newly unveiled project, code-named "Triton," which encompasses three different Colonial-era shipwrecks. Each is documented to have carried large shipments of coins and bullion. One of the wrecks had been partially salvaged shortly after sinking.

Based on historical data and market research ORRV has reason to believe the combined fair-market value of the cargo carried by these ships is estimated at $300 million to $400 million. This valuation is based on a number of factors including total recovery of 80 percent, 15 percent loss due to salt water corrosion and wholesale numismatic values.

RS Operations (RSOPS) and ORRV last month completed a merger between the two companies. The company intends to continue shallow-water activities while preparations are made to begin targeting deep-water shipwrecks.

For more information on RS Operations and ORRV please go to www.rsoperations.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.

Contact Information

  • For additional information or to facilitate interviews, please contact:
    Terry L. Towery
    RSOPS Communications Director
    (309) 696-4249
    Email Contact