CORAL GABLES, Fla., Dec. 28, 2011 (GLOBE NEWSWIRE) -- Marine Exploration, Inc. (OTC:MEXP), has entered into a Binding Letter of intent to purchase shares in the Parque Cibernetico de Santo Domingo, S.A., www.pcsd.com.do in order to expand the Company's business focus in the Dominican Republic.
The PCSD is a tax-free zone cyber park comprised of around 450,000 square meters of land, assessed value of about US$100 dollars per square meter; several state of the art buildings and other improvements which account for a US$50 million dollar donation from the government of Taiwan to the D.R. Government. Marine Exploration President Rosendo Alvarez, III stated that "taking an equity position in the first and yet only high technology park in the Caribbean region, Cyber Park of Santo Domingo, (PCSD, S.A.) is the first action step in the strategic inroads that the Company plans to execute in the promotion and development of state of the art maritime technology applications which will have a high intellectual property potential and impact positively the income diversification model under implementation for the benefit of present and future Marine Exploration stakeholders."
Rosendo Alvarez, III also revealed "that strategic approach has been taken with the Tallinn Technology Park of Estonia (TEHNOPOL) and the Tallinn University of Technology's marine science school and the Dominican University OM as well."
In addition to expanding its business focus in the Dominican Republic, Marine Exploration is readying its 117 foot vessel to leave port soon in order to resume work in the Company's principal discipline of shipwreck search and recovery.
Marine Exploration CEO Mark Goldberg commented, "with the prices of gold, silver and other commodities remaining at all time highs, the Company is pleased to get back in the water in order to continue to capitalize on its original business model while we carefully enter into other strategic positions such as participation the PCSD."
Marine Exploration is also pleased to announce the recent launch of its new website: www.usmarineexploration.com. Current and prospective shareholders are encouraged to visit the Company's new website for further information.
About Marine Exploration, Inc.
Marine Exploration represents a consortium of professionals driven to achieve enduring financial success and professional fulfillment through the investment financing of lucrative treasure exploration and salvage ventures in the Caribbean Sea and South Atlantic Ocean. Utilizing cutting-edge technology and custom equipment designed under exclusive development contracts for each specific mission, Marine Exploration is establishing a new standard for bona-fide research-based shipwreck recovery operations.
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.