Deep Blue Marine Inc. Announces Dividend to Take Effect June 3, 2008
Thursday May 29, 9:30 AM EDT
SALT LAKE CITY, May 29, 2008 (BUSINESS WIRE) -- Deep Blue Marine Inc. (Pink Sheets: DPBE) today announced completion of an asset sale agreement with Oceanic Research & Recovery, Inc. (ORRV), for the purchase of its equipment located in Key West, Florida, and the assumption of 100% of Deep Blue Marine's Florida operations.
As consideration, Deep Blue Marine received 100,000,000 shares of ORRV's restricted stock. This stock in turn will be distributed among the Deep Blue shareholders on a 1:1 exchange basis. These shares will be sent to the Deep Blue shareholders of record June 3, 2008, and will include Deep Blue's shareholders who have purchased stock in the open market up until the close of business June 3, 2008. These shares will be directly deposited through the DTC on these shareholders' behalf and credited to their accounts as of the record date.
Wilf Blum, President of DPBE, said, "We have sold no shares of the company from treasury since the 5 to 1 reverse split that took effect in March 2008. Therefore, if shareholders have not sold their shares they will get this dividend, if they do sell shares prior to June 3, 2008, they will not get the dividend for the shares they sold. So if you have 50,000 shares by June 3 you will get 50,000 shares of ORRV. This has given us a way to reward our faithful shareholders. As in all ventures of this nature investors should not invest money they cannot afford to risk."
For more information on Deep Blue Marine Inc. (DPBE) go to www.alldeepblue.com.
"Safe Harbor" Statement Under the Private Securities Litigation Reform Act of 1995
Statements in this press release relating to plans, strategies, economic performance and trends, projections of results of specific activities or investments, and other statements that are not descriptions of historical facts may be forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking information is inherently subject to risks and uncertainties, and actual results could differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, risk factors inherent in doing business. Forward-looking statements may be identified by terms such as "may," "will," "should," "could," "expects," "plans," "intends," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential," or "continue," or similar terms or the negative of these terms. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. The company has no obligation to update these forward-looking statements.
SOURCE: Deep Blue Marine Inc.
CONTACT: Deep Blue Marine Inc.
Wilf Blum, 801-201-4691 |
