Deep-ocean explorer Odyssey Marine Exploration Inc. announced Wednesday it has sold intangible and tangible assets related to its shipwreck business for $21 million.
California-based Monaco Financial LLC and affiliated entities purchased the assets, according to a statement.
Included in the deal are all of Odyssey's bank debt, totaling $11.7 million; $2.2 million of Odyssey's debt owed to Monaco Financial is retired; $5 million of this debt ceases to accrue; a $1 million loan from Monaco was retired; and a further $1 million in case was provided for general corporate uses; according to the statement.
Odyssey will retain a 21.25 percent interest in the future net proceeds from shipwreck projects as part of the deal, and holds an exclusive contract to provide shipwreck search and recovery services, according to the statement.
BELLEVUE, Wash. — Treasure hunting is inherently risky and those who invest often don’t see a return.
Bellevue resident Ken Harbeston knows the risk, and for 30 years, he has been trying to reap the rewards.
In 1981, Harbeston and a group of investors spent $12 million to rent a deep water submarine.
They were searching for the holy grail of shipwrecks, the San Jose.
The San Jose sank in a battle off the coast of Cartagena, Colombia, in 1708.
It was filled with gold and silver that could be worth up to $17 billion today.
While searching the ocean floor, Harbeston found the ship.
"There were wood piles and an iron cannon," said Harbeston.
SPAIN: Secretary of State for Culture, Jose Maria Lassalle, was since Saturday in Cuba on an official visit, where he learned of the discovery of the ship San Jose. After a day of situation analysis, Lassalle said that since the Executive Mariano Rajoy addressed prudently fact, given the special relationship with Colombia Spain. But the triumphalism shown yesterday by President Juan Manuel Santos has made since Culture see with concern the implementation of Colombian law of 2013 for the protection of underwater heritage. It is a rule that Lassalle had previously had occasion to discuss the news at some point -a eyes of Spain, "worrying" - with the Colombian Minister of Culture, Mariana Garces.
Colombian President Juan Manual Santos hailed on Saturday the discovery of a Spanish galleon that went down off the coast of the South American nation more than 300 years ago with what might be the world's largest sunken treasure.
"Great news: We have found Galleon San Jose!".
The San Jose was carrying gold, silver, gems and jewelry collected in the South American colonies to be shipped to Spain's king to help finance his war of succession against the British when it was sunk in June 1708.
The company and the government agreed to split any proceeds, but the government later said all treasure would belong to Colombia, a view that was backed by a United States court in 2011. SSA said in 1981 it had located the area in which the ship sank.
A hoard of 90 Roman coins seized by police in a south Shropshire man’s bedroom have been declared treasure trove – meaning they are now the property of the crown.
The silver coins – 87 complete and three broken, some still with soil stuck to them – are believed to date back as early as 71 AD.
They were seized by police from the bedroom of Brady Marston, of Station Crescent, Craven Arms.
The 24-year-old told the hearing that the coins had been left to him by his late grandfather.
By Nick Squires, Rome
Italian scientists have identified five sites where they believe a 1,600-year-old hoard of Roman gold and treasure worth more than £700 million was buried, in what they described as a “real-life Indiana Jones hunt”.
Geologists will use drones, ground-penetrating radar, infra-red technology and electromagnetic instruments to try to find the tomb of King Alaric, a Visigoth chieftain who is said to have been buried alongside the loot in 410 AD in or around the town of Cosenza in southern Italy.
According to contemporary historical accounts, he was buried in a stone tomb after a local river was temporarily diverted and then returned to its natural course in order to protect the site from grave robbers.
Researchers believe that if the fifth century accounts are correct, then up to 25 tonnes of gold, worth around one billion euros (£734 million), could be waiting to be discovered, along with silver and gems.
The treasure is said to have come from the sack of Rome, carried out earlier in 410 AD by Alaric and his marauding Gothic tribesmen.
“It’s a real-life Indiana Jones hunt,” said Francesco Sisci, the project coordinator.
PANAMA - The National Institute of Culture (INAC) has decided not to extend its contract with Marine Research del Istmo SA, for the recovery of treasures from the galleon San Jose, which sank in the archipelago of Las Perlas in the seventeenth century.
The contract between the Government and the commercial firm Marine Research was signed in 2003 and expired on August 28, 2015, although one of its clauses establishing an extension to continue the recovery of treasures.
However, INAC officials reported anomalies that led to the end of the marina concession were detected. In fact, the agency has withheld hundreds of coins that were confiscated from one of the company representatives.
The managing director of INAC, Juan Francisco Guerrero said they have all the information they need to manage this legal issue. "It will act in the law accordingly," he said.
By Tova Dvorin
Two men who claimed last month that they discovered a Nazi-era train laden with gold may face prosecution, Polish media revealed late Thursday - over a paperwork issue.
Last month, the two men sparked a gold rush by claiming they had found a tunnel in Walbrzych that contains a Nazi train that could be carrying valuables.
But the treasure-hunters - Piotr Koper, a Pole, and German national Andreas Richter - did not apply to government offices for permission to use the equipment in making the find, i.e. a ground-penetrating radar (GPR).
Lower Silesia's Conservator of Monuments Barbara Nowak-Obelinda has filed charges against the two to the District Prosecutor's Office in the city of Wałbrzych, Radio Poland reports, alleging the two were required under law to gain approval to use GPR prior to the find.
Just weeks ago, the treasure-hunters applied to the same office asking for 10% of the profits from the "Nazi gold" train. But it is unclear whether the find is real or not; Poland pledged it would deploy the military to look for the train that has sparked global fascination.
The outcome of the case - both whether the train is real and whether its discoverers will be charged for it - could set a precedent for future treasure-hunters.
Two weeks ago, another Polish explorer claimed to have found a network of tunnels also used by the Nazi regime - this time, part of the "Riese" (giant) system of railway tunnels, corridors and shelters that the Nazis were building during World War II in the mountains around the city of Walbrzych, which were used to protect thousands of people.
Courtesy: Israel National News
By: Vincent Cabreza, Inquirer Northern Luzon
BAGUIO CITY, Philippines—For P50, a visitor is treated to a tale of adventure and nail-biting suspense at a little known museum in the summer capital.
The best part of this story is that “it’s all true,” said Henry Roxas, 47, son of the late treasure hunter Rogelio Roxas.
Henry runs the Roxas Museum near the tourist-drawing Lourdes Grotto, which offers an interesting collection of World War II relics, war helmets, rifle bayonets and a fortune in old coins.
He is always ready to narrate the discovery of the “Golden Buddha,” which his father supposedly discovered, and then lost, to the late strongman Ferdinand Marcos.
Some of the relics were dug up as Rogelio searched for the “Yamashita treasure,” referring to loot collected throughout Southeast Asia by invading Japanese forces, which were supposedly buried in the Philippines toward the end of World War II.
By Paul Fontaine
ICELAND: A foreign ship conducting unauthorized undersea investigations may have been looking for treasure, possibly within sunken ships and submarines from World War 2.
Vísir reports that the ship in question is registered in Togo, but belongs to an American company. Called Endeavour, it was caught conducting unauthorized undersea research sixty nautical miles northwest of the Ísafjarðardjúp fjord by the Icelandic Coast Guard and ordered to shore.
Endeavour’s captain admitted the ship had deep sea imaging equipment on board, which they were using to search for wreckage at the ocean’s bottom. There is indeed a great deal of such wreckage around Iceland from World War 2, as Germany and other countries were fairly active around the coast at that time.
Auðunn Kristinsson, a project manager for the Icelandic Coast Guard, told reporters that there are long-standing rumors of treasure on board some of the ships and submarines lying at the bottom of the Icelandic sea, but that Endeavour’s captain has not made any statements to that effect.
It is uncertain if the captain and crew will be facing criminal charges, but for the time being, nothing is legally preventing the ship from leaving port and setting sail again.
Courtesy: Reykjavik Grapevine
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