Odyssey Marine Exploration, Inc. (NASDAQ: OMEX) is an American company engaged in the salvage of deep-water shipwrecks. Odyssey salvaged the US Civil War era shipwreck of the SS Republic in 2003 and recovered over 50,000 coins and 14,000 artifacts from the site nearly 1,700 feet deep. Odyssey has several shipwreck projects in various stages of development around the world, including the codenamed Black Swan Project.
Between 1998 and 2001, Odyssey...
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Odyssey Marine Exploration, Inc. (NASDAQ: OMEX) is an American company engaged in the salvage of deep-water shipwrecks. Odyssey salvaged the US Civil War era shipwreck of the SS Republic in 2003 and recovered over 50,000 coins and 14,000 artifacts from the site nearly 1,700 feet deep. Odyssey has several shipwreck projects in various stages of development around the world, including the codenamed Black Swan Project.
Between 1998 and 2001, Odyssey Marine Exploration searched for HMS Sussex and now believes that it has located the shipwreck off Gibraltar at a depth of 821 metres. The ship sank in a storm in 1694 during the War of the Grand Alliance as it was transporting 10 tons of gold coins to buy the allegiance of the Duke of Savoy, Victor Amadeus II, against France.
In September 2002, Odyssey reached an agreement with the British government on a formula for sharing any potential spoils, under which Odyssey would get 80 percent of the proceeds up to $45 million, 50 percent from $45...
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