*MEXP* News Marine Exploration Updates Dominican Operations
Today : Wednesday 19 September 2012
Marine Exploration, Inc. (Pink Sheets:MEXP): Marine Exploration, Inc. is pleased to announce the new Dominican Government Administration decision to bring up for international bidding, the administration and development of the Manzanillo Port on the northern coast of the island, close to the border with Haiti, and rated as the port with the deepest approach in the country. Marine Exploration announces that it will endeavor to coordinate interest of one of the largest international port operators from south east Asia to pursue partnership for this administration and development project.
Rosendo Alvarez III, President of the Board of Marine Exploration, Inc., stated that "the Manzanillo port is an essential piece of the binational development trade zone strategy which the new government, headed by President Danilo Medina, seeks to implement with President Michel Martelly of Haiti, in an effort to generate jobs and prosperity which should have a positive impact on the immigration issues facing both neighboring countries." Marine Exploration also intends to undergo a slight name change in the coming weeks to better position itself in line with its expanded prospects, including the Manzanillo port as well as its treasure survey and atmospheric water projects.
In a follow up of the progress of the due diligence process connected to the acquisition of Isabel Villas Club and Marina in the capital city of Santo Domingo, Andrew H.S. Leung, President of Isabel Villas Golf and Country Club, on visit from Hong Kong, indicated that the new authorities at the Ministry of Environment showed promise to speed up the approval process which had been slowed down for the Presidential elections campaign.
Marine Exploration is in its final stages of restructuring its authorized common shares which will allow its growth with existing and future projects, both international and domestic, which are currently being considered by the Board of Directors in consultation with industry professionals. This is intended to be accomplished primarily through the use of restricted shares. The Company is also analyzing parameters for the re-purchase of shares in the open market with the goal to retire said shares back to treasury.
www.usmarineexploration.com
Forward-Looking Statements
This press release contains statements, which may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995.
Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-looking statements include fluctuation of operating results, the ability to compete successfully, and the ability to complete before-mentioned transactions. The Company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
CONTACT: Mark Kabbish
markkabbash@gmail.com
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