Sovereign Exploration Associates International, Inc. announces the investment in a new portfolio company.NEWTOWN, Pa. -- Sovereign Exploration Associates International, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : SVXP) announces the investment in a new portfolio company, Sovereign Exploration Associates International of Spain, Inc. (SEAI SEAI Seafood Exporters Association of India (Kochi, Kerala, India) SEAI Solvent Extractors' Association of India SEAI Science & Engineering Associates Inc. SEAI Saskatchewan Electrologists' Association Incorporated (Canada) 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 (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. 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) is a Business Development Company under the Investment Company Act of 1940 undertaking shipwreck shipwreck, complete or partial destruction of a vessel as a result of collision, fire, grounding, storm, explosion, or other mishap. In the ancient world sea travel was hazardous, but in modern times the number of shipwrecks due to nonhostile causes has steadily exploration and recovery initiatives. Pursuant to Section 13 or 15(d) of the Security Exchange Act of 1934, SVXP has filed Form 8-K Form 8-K The form required by the SEC when a publicly held company incurs any event that might affect its financial situation or the share value of its stock. Form 8-K See 8-K. . SAFE HARBOR Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. 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 The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and 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 Intrinsic Value 1. The value of a company or an asset based on an underlying perception of the value. 2. For call options, this is the difference between the underlying stock's price and the strike price. , 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. |
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