Endurance Exploration Group Inc (EXPL)

[hedge_fun]

Herbo had an update on Facebook last week.....

but I'm not sure this project will be included in the JV, but the 2 year time line makes me wonder.

Pursuant to the Agreement, Marex has agreed to contribute to the joint venture certain shipwreck research files, sonar and other subsea survey data, navigational data, artifacts, and assistance relating to a number of shipwreck and suspected shipwreck targets located in international waters off the Southeast coast of the United States. EXPL has agreed to further survey and inspect the shipwreck and suspected shipwreck targets, and if deemed appropriate, take actions necessary to salvage the shipwreck targets.

The economic terms of the Agreement call for EXPL to provide the funding for the further inspection, salvage and operations of the joint venture. Any revenues from the JV will be split 90% first to EXPL and 10% to Marex until EXPL receives 2 times its costs and investments returned, and then a 50% split to both EXPL and Marex respectively.

The joint venture is expected to terminate in two years, unless extended by mutual agreement between the parties.

Here's Herbo's April 4th post and links.

https://www.facebook.com/Shipwreckhunter/posts/559434674090206

Sunken treasure trove beckons
By Norma Connolly -April 4, 2013

Captain Humphrey’s company, Marex Gulfstream Ventures, claimed the wreck of the steamship Merida in US federal Admiralty court in Savannah, Georgia last month and plan to start their expedition to retrieve its treasure this summer.

https://www.caymancompass.com/2013/04/04/Sunken-treasure-trove-beckons/