CORAL GABLES, Fla.,
April 10, 2013 /PRNewswire/
-- Marine Exploration Inc. (OTC PINK: MEXP) today announced
the execution of a letter of intent for an initial $1 million investment from a strategic investor
with additional investment funds anticipated to follow. The
purpose of the investment is to fund a new high growth niche
opportunity within a fragmented and underserved market sector of
North America.
Marine Exploration, which has made efforts over the last year to
diversify for the benefit of shareholders by making forays into
different business arenas, will continue to deliver marine salvage
services in the Dominican Republic. However, the Company
shall now redirect its primary diversification focus toward the
introduction of offshore contract manufacturing for North American
small and medium business clients.
The lower cost manufacturing resources within industrialized
emerging markets such as China are
more often than not only available to large companies. With
the initial infusion of capital from its strategic investor, Marine
Exploration will begin making low cost, offshore contract
manufacturing services available to the North American small and
medium business market.
The Company will utilize the $1
million investment to finance select client's offshore
contract manufacturing projects. After refining the offshore
contract manufacturing process through the first few client
experiences, the Company and its strategic financing partner intend
to rapidly expand capacity targeting the one hundred thousand to
one million-dollar contract
manufacturing market segment.
This new business plan does not include a shareholder change of
control. The contemplated strategic investment is anticipated
to be executed as a debt transaction without any near term issue of
new common stock. Marine Exploration is not contemplating a
near term recapitalization of the common stock of the company at
this time.
The controlling shareholders are contemplating the introduction
of new management and directors in addition to a possible name
change which was referenced in previous press statements.
The new business plan and investment announced today have been
under development for several months and the signing of an initial
offshore contract manufacturing client is anticipated promptly.
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:
Business Relations:
William A. Young Sr.
Ph: 623-238-5245
E-mail: wayoung55@aol.com
SOURCE Marine Exploration, Inc.
