Deep Blue Marine, Inc. Signs Funding and Sales Agreement
SALT LAKE CITY--(BUSINESS WIRE)--Deep Blue Marine Inc. (OTC: DPBE.PK) announced today that the company has entered an agreement with a local privately held firm in Salt Lake City, Utah, for the financing and sale of artifacts. The company is newly formed but the principals comprise several years of experience in the areas of private finance through bailments and also have dealt with several auction houses in America. The terms of the arms length contract were set up to provide Deep Blue with funding for the recovery, restoration, conservation, advertising and presentation of the artifacts to be offered to the public through auction to the highest bidder.
“As always investing in this type of venture is very risky and no one should invest in this type of venture if they cannot safely tolerate that risk.”
The company will provide an extensive data base of all for sale items which will ultimately be connected to Deep Blue’s web site. The partners of the company intend to provide funding of up to 50% of the estimated value of the price of the items to be sold, and terms of the agreement state that Deep Blue retains the ability to sell through other agencies and also to sell to its shareholders. The term of the contract is for one year but renewable each year for a period of five years.
Wilf Blum, President and CEO of Deep Blue Marine, Inc., stated: “We hope that this agreement will allow us to fund the company from the sales of common artifacts. We look at this as a stepping stone to total self funding of the company. No principals of Deep Blue are part of the company, either directly or indirectly, although principals of Deep Blue have ongoing business relationships with the principals of the new company.”
“As always investing in this type of venture is very risky and no one should invest in this type of venture if they cannot safely tolerate that risk.”
For more information on Deep Blue Marine Inc. (DPBE) go to www.alldeepblue.com
Market Data 
Markets 
AI
