Odyssey Marine Exploration Asserts Position in $500 Million Shipwreck Treasure from Black Swan Site

TAMPA, Fla.--(BUSINESS WIRE)--Odyssey Marine Exploration, Inc. (Nasdaq:OMEX - News), the world leader in the field of deep-ocean shipwreck exploration, yesterday filed its Response to Spain’s Motion to Dismiss or for Summary Judgment in the “Black Swan” admiralty case pending in U.S. Federal Court in Tampa, Florida. In its pleadings, accompanied by over 1,000 pages of supportive documentation and imagery, Odyssey asserts that the “Black Swan” site and the cargo recovered do not represent an entity to which sovereign immunity would apply. Spain had argued in September that the U.S. Federal Court did not have jurisdiction over the case and that the case should therefore be dismissed.

Based on Odyssey’s exhaustive research and evaluation of all data gathered, Odyssey’s filing concludes that even if the site discovered is eventually proven to be associated with the Nuestra Señora de las Mercedes, which is unclear from the available evidence, the ship should not be accorded sovereign immunity. Furthermore, the vast majority of the cargo aboard was commercial cargo that was privately owned and was recovered without disturbing any ship remains.

“I am really pleased that through our filings, the public now can finally see the facts in this case for themselves. The historical, legal, numismatic and archaeological experts have . . .

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