Sovereign Exploration Associates International, Inc. announces the investment in a new portfolio company
Tuesday November 29, 12:04 pm ET
NEWTOWN, Pa.--(BUSINESS WIRE)--Nov. 29, 2005--Sovereign Exploration Associates International, Inc. (OTCBB: SVXP - News) announces the investment in a new portfolio company, Sovereign Exploration Associates International of Spain, Inc. (SEAI of SPAIN).
SEAI of SPAIN is a Spanish based company led by Mr. Luis Valero de Bernabe Gonzalez as President. The Company is responsible for the administration of SEAI business development and operations in Spain and Portugal.
As part of the agreement, SEAI of SPAIN has acquired interest in the finder rights to certain Spanish wrecks from Luis Valero de Bernabe Gonzalez.
"I am impressed with the good working relationship that has been established by SEAI's portfolio company, Artifact Recovery & Conservation, Inc. (ARC), with the Canadian Province of Nova Scotia, its focus on cultural exchange, and the quality and expertise of its recovery operations and management team. I am pleased to have the support of SEAI to help develop our projects here." said Mr. Valero.
Bob Baca, CEO of SEAI comments that: "The addition of SEAI of SPAIN greatly compliments the opportunities associated with other SEAI portfolio companies".
About Sovereign Exploration Associates International, Inc.
Sovereign Exploration Associates International, Inc. (OTCBB:SVXP - News) is a Business Development Company under the Investment Company Act of 1940 undertaking shipwreck exploration and recovery initiatives. Pursuant to Section 13 or 15(d) of the Security Exchange Act of 1934, SVXP has filed Form 8-K.
SAFE HARBOR
The statements made in this release constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect," or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, the failure of the ships to contain cargo of historic, archeological or intrinsic value, changing economic conditions, interest rates trends, continued acceptance of the Company's products in the marketplace, competitive factors and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Contact:
Sovereign Exploration Associates International Inc.
Curtis R. Sprouse, 781-246-7512
Fax: 781-245-7774 |
