Treasure & Shipwreck Recovery Sets Out Short-Term Objectives

ST. PETERSBURG, Fla., Jan. 02, 2020 (GLOBE NEWSWIRE) -- via NetworkWire – Treasure & Shipwreck Recovery, Inc. (“TSR” or “the Company”) (currently trading as OTC:BLIS) today updates shareholders and the public regarding its follow-up plans in the short term for use of its acquired vessels, equipment, contracted crews and numerous target sites. TSR also announces that it has completed the purchase of a major bulk of diving and recovery equipment.  With its acquisition of approximately 60 miles of scans off the east coast of Florida, the Company will be operating in a known target area where it has recovered previously announced items.

The Company has taken on new expert consultants, including for the training of TSR and contractors on new scanning procedures and equipment.  TSR is presently purchasing state-of-the-art magnetometers for outfitting its vessel the R/V Bellows for large- and precise-scale surveying operations, both off Florida and in other areas of the Caribbean. These operations will be based out of Cape Canaveral over the next one to two months.

The Company will also be announcing the filing of its U.S. court admiralty claim off the east coast of Florida covering the area where historical objects have been recovered, and TSR is working with an expert in the admiralty law arena to secure such claims in the coming weeks.

The Company is further accomplishing its goal of securing a determination that TSR is not and has never been a shell company under the Securities Act. This is being done through a new filing, with the Company’s new activities, assets and operations included, which will be refiled in circuit court in Florida for a short-term hearing.

FORWARD LOOKING STATEMENTS: This press release and the statements of representatives of TSR. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, TSR’s ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.


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