Clearwater Shipwreck Explorer Joins Forces with Archaeological Research Firm By Pam Huff – Managing Editor, Tampa Bay Business Journal
Oct 1, 2018, 1:48pm EDT
Endurance Exploration Group, based in Clearwater, has entered into a joint venture with Global Marine Archaeological Research LLC, the companies announced Monday.
The venture, Caird Exploration Inc., will be 50 percent owned by each company. Endurance (OTCMKTS: EXPL) will issue 12 million restricted shares of its common stock to the venture in exchange for its ownership interest, the announcement said.
The joint venture acquires the rights to a number of deepwater historical shipwrecks. Global Marine will transfer all of its rights, title and intellectual property including sonar data, photographic data, research, agreements and all other intellectual property relating to the shipwrecks, which were previously located by the company.
In addition, Endurance has acquired a General Dynamics Bluefin 12 Autonomous Underwater Vehicle, which is capable of conducting side scan sonar surveys, photographing targets, and conducting other sensor surveys in depths up to approximately 5,000 feet of water. The vehicle will be used by Endurance for future survey missions. The replacement cost for a new Bluefin is estimated to exceed $3 million.
“This series of transactions immediately provides EXPL with a number of already located, potentially valuable, shipwreck salvage projects that considerably expands our growing portfolio of known wreck-sites," said Endurance CEO Micah J. Eldred in the announcement.
Project #3 ~ North Carolina
Captain Jimmy Gadomski working the area around the SS North Carolina. It's covered in sand, this is where the Blue Water Rose blowers really help our divers uncover a large area to search. Mother Nature keeps these guys in their fins!
Project #4 ~ Somewhere off the Virginia Coast
Blue Water Ventures International, Inc. and project partner Swordfish Partners, LLC are pleased to report the start of the 2020 dive and recovery season. The recovery vessel Blue Water Rose is now on her way to Virginia Beach, where the crew will dive to recover samples from a 1911 wreck site. BWVI anticipates a ten-day window to complete the survey and recovery of samples.
The Leviathan Multi-tool
The "Leviathan" multi-tool salvage system will finally be wet tested down to a depth of 4,000 meters this coming week. The system is designed to be capable of working in up to 6000 meters of water depth and is designed to handle up to a 20 ton lift. The system is capable of hosting a multitude of subsea geophysical sensors, such as 3d sub bottom profiling, high resolution scanning sonar, ferrous and non-ferrous metal detection systems, and high definition camera systems that relay data back to the vessel in real time via its fiber optic connections. We look forward to putting this tool to use in our shipwreck salvage activities.}
Endurance Exploration Group, Inc and its Subsidiary, Caird Exploration, Inc., Have Entered into a Contract for Deep Water Film Production and Exploration