SOURCE: J.D. Hutt Corp.

J.D. Hutt Corp.

August 27, 2013 10:28 ET

Sea Treasure Recovery Corp. Acquired by Public Company

TREASURE COAST, FL--(Marketwired - Aug 27, 2013) - J.D. Hutt Corp. (PINKSHEETS: JABA) announced today the acquisition of Sea Treasure Recovery Corp., a company focused on shallow water salvage of sea treasure off Florida's Treasure Coast. The mystery and excitement of looking for sunken treasure has been fascinating but a pipe dream. Now, with the use of modern technology, it has become a viable business with potential profits in the millions. The company plans to focus its initial operations on shallow water recovery, which is less capital intensive than the deep sea recovery, such as Odyssey Marine Exploration's discovery last month of $210 million in silver in the North Atlantic.

Sea Treasure plans to focus on Florida, because of the many ships that have gone down in her waters in the past four centuries, mainly due to hurricanes. The majority of these ships were Spanish galleons, carrying silver and gold back to Spain from the New World. Many gold doubloons and pieces-of-eight have been found, the last find of which was 48 gold coins valued at $250,000 several hundred feet offshore, which are believed to be a small portion of the payload from a fleet of 11 Spanish galleons that went down in 1715. The famous treasure hunter, Mel Fisher, found $400 million in gold coins and treasure from a Spanish galleon that sunk in 1622 off the Florida Keys.

"We are excited about the acquisition for the exposure it will give us to the capital markets," said Scott Pummill, CEO.

Forward-Looking Statements:

This release includes forward-looking statements concerning the future performance of our business, its operations and its financial performance and condition, and also includes selected operating results presented without the context of accompanying financial results. These statements include statements with respect to our objectives and strategies to achieve those objectives, as well our beliefs, plans, expectations, anticipations, estimates or intentions. We caution that all forward-looking information is inherently uncertain and actual results may differ materially from the assumptions, estimates or expectations reflected forward-looking information, and that actual future performance will be affected by a number of factors, including economic conditions, technological change, regulatory change and competitive factors, many of which are beyond our control.

Contact Information