CALI Holdings, Inc. Signs Definitive Agreement with Marine Exploration Company

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old_trader

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Mar 29, 2005
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CALI Holdings, Inc. Signs Definitive Agreement with Marine Exploration Company
Business Wire - October 20, 2005 09:20

ORLANDO, Fla., Oct 20, 2005 (BUSINESS WIRE) -- CALI Holdings, Inc. (OTCBB:CALI) announced today that it executed and closed under a definitive agreement with Sovereign Exploration Associates International Inc. (SEAI), a marine exploration company headquartered in Pennsylvania. SEAI, a privately held company, was recently formed through the merger of Sea Research, Inc., and Artifact Recovery & Conservation, Inc. As previously announced, CALI Holdings decided to strategically focus its business efforts on financing the recovery of shipwrecks that have cargo of historic, archeological and intrinsic value. SEAI brings executive management, skilled recovery teams, equipment and agreements for twelve (12) sites containing over 15 ships of historic, archeological and intrinsic value. CALI Holdings has applied to change its name to Sovereign Exploration Associates International Inc.

The agreement involved the exchange of SEAI stock for 90% of CALI stock and pursuant thereto SEAI became a wholly-owned subsidiary of CALI. The new management team will be comprised of key individuals from SEAI. Robert Baca and Curtis Sprouse of SEAI will assume the CEO and COO positions effective immediately. SEAI's web site is under development. Future announcements on the SEAI web site will address current site operations, artifacts recovered to date and future projects.

About CALI Holdings dba Sovereign Exploration Associates International, Inc.

CALI Holdings doing business as Sovereign Exploration Associates International, Inc. is a Business Development Company under the Investment Act of 1940 undertaking shipwreck exploration and recovery initiatives.

Safe Harbor

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 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, 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.

SOURCE: CALI Holdings, Inc DBA Sovereign Exploration Associates International Inc.

Sovereign Exploration Associates International Inc.,
Newtown, Penn.
Curtis R. Sprouse, 781-245-7773 ext. 103
Fax: 781-245-7774

Copyright Business Wire 2005
 

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I heard they were going to salvage a galleon 100mi. S. of Pensacola but the location must be wrong. 100mi. S. of Pensacola is the De Soto canyon, 2,000 ft. deep!
 

The individuals I would be looking for information on or information on the wrecks they are or have excavated, would work for one of these three companies!

Sovereign Exploration Associates International Inc. (SEAI), a marine exploration company headquartered in Newtown, Pennsylvania. SEAI, a privately held company, was recently formed through the merger of Sea Research, Inc., and Artifact Recovery & Conservation, Inc.

SEAI has agreements for twelve (12) sites containing over 15 ships of historic, archeological and intrinsic value.

By the way this company is trading on the pink sheets market (CALI) and is priced at .0005 per share at this time!

Thanks
 

Could company named Sea Research Inc actualy be Sub Sea Research LLC?

If so this is a very high end merger for a very smal PPS at this time!

I'm holding 35,510,000 shares out of the 432m outstanding at this time! :)
 

Shiprex

In the story at the link you provided there is mention of

"The dive team, which is planning a costly archaeological reconnaissance mission next year, also believes its finds could be part of a 16-ship Spanish fleet carrying treasure in 1668 that was lost on the voyage home."

I have research the lose of ships is 1668 and have come up empty as to an significant wrecks other than the Sacrimeno. Do you have any further info on the Spanish ships mentioned?

Old_Trader
 

Re: CALI Holdings, Inc. Signs Definitive Agreement with Marine Exploration Compa

I think they have rights to the same ships you and I have rights to. :o elcapitan
 

C.B. wreck hunters
reveal treasures
Riches worth hundreds of millions in waters near Sable Island

By TERA CAMUS / Cape Breton Bureau

MAIN-A-DIEU - A share of sunken treasure recovered off the coast of Cape Breton this summer was handed over to the province Friday.

Officials with Le Chameau Explorations Ltd., a treasure hunting company based in Cape Breton, delivered dozens of precious gold, silver and copper items, including coins, sword handles, silverware, crosses and pieces of ships. The items were recovered during the summer from several wreck sites off Cape Breton and near Sable Island.

"These wrecks are worth hundreds of millions," a soft-spoken Capt. Bob MacKinnon of Le Chameau Explorations said last week in his lab.

Nearby, staff and marine archeologists quietly and carefully packed the goods recovered so far for shipment.

The treasure was discovered in 2002 from an area that some treasure hunters have called the richest shipwreck site in the world.

Mr. MacKinnon said parts of Nova Scotia's coastline are among the richest in the world based on the number of wrecks, estimated to be in the thousands.

The province takes a 10 per cent share of all goods recovered from such wrecks. Le Chameau Explorations and its shareholders get the rest to sell at auction houses, mostly in Europe or the United States.

This summer's find included newly minted New England gold coins from the 1700s. The coins, the size of a loonie, were found near a French wreck containing gold coin lost in the 1800s when heading for Louisbourg.

Some of the gold coins, which glistened on the counter in Mr. MacKinnon's lab, are in near-perfect condition, except for a few dings along the edges.

While the coins are in good shape, time is taking its toll on other treasure, some of which is at risk of being forever lost on the ocean floor.

"It's a very harsh environment," Mr. MacKinnon said of the sea.

"Most sites are covered with heavy stone, some as big as this building. The sea can easily pick up stone the size of this building and move it."

Marine archeologist Duncan Matthewson of Florida said Nova Scotia's southern and eastern waters are full of wrecks because of the low shoal that follows the rugged shoreline.

"They can't survive very long," he said of the wooden vessels that wrecked in the harshest of seas.

"Every recovery tells us about the ship and the maritime history of the area. . . . Some sites are not just one ship, but there may be as many as three ships from different periods so we're trying to work out the sequence of events. . . . It's like being like Sherlock Holmes under water."

To continue its treasure hunting, the company plans to hire another 50 workers next summer to join the staff of 20, which includes many scientists like James Sinclair, the first archeologist to visit the Titanic when she was found.

Next summer, Mr. MacKinnon's company, along with American parent Sovereign Marine Explorations, hopes to get the green light from the province to begin searching several other sites as well, including that of the 1822 wreck of L'Africaine near Sable Island.

That ship arrived in Martinique on Oct. 17, 1821, and departed for France loaded with riches, mostly gold and silver bullion, at the time she sank months later.

They also plan to go after the wreck of the steamer ship State of Virginia, lost in July 1874, along with her sizable stash of gold and silver, some of which has already been recovered near Sable Island.

The team also plans to continue piecing together the history of Le Chameau - the ship from which some of this summer's treasure was recovered. The wreck of the French pay ship is mixed in with the remains of two other colonial-era ships, one of which was Le Triton.

Le Triton, owned by the Spanish, was captured with its riches when heading for Spain near Nantucket Island, Mass., on July 4, 1711, by the English frigates Kingston and Leostoff. According to historic documents, Admiral Hovenden Walker, commander of the British fleet, sent orders to not proceed to Britain with the prize capture but instead stay near Cape Breton to await orders.

Seven of 11 ships sent by the admiral to patrol Cape Breton that month in September were lost in storms between Main-a-Dieu and Louisbourg. Some of the goods sent Friday were positively identified as belonging to the Triton.

Among the wreck sites the company has pinpointed for recovery next year includes an area near St. Paul Island that's believed to hold rare gold coins and other precious goods stolen from the White House during the War of 1812.

"If we can get to it (the Washington wreck site) . . . items recovered below could go up over $1 billion in value," Mr. MacKinnon said with a smile.

According to historians, British forces in the war ransacked the national capital and burned the White House, but not before filling several of their ships with riches for the return voyage home.

Many of those ships heading overseas stopped in Halifax but were lost in heavy storms just south or east of the province.


http://www.freerepublic.com/focus/f-news/1280945/posts
 

Sovereign Exploration Associates International, Inc. Displays Recovered Coins and Artifacts
11/3/2005 9:10:01 AM
NEWTOWN, Pa., Nov 03, 2005 (BUSINESS WIRE) -- Sovereign Exploration Associates International, Inc. ( SVXP ) announced today that photographs of some of the coins and other artifacts recovered from two of its site operations are now available for viewing on its web site ( www.sea-int.com). Artifacts recovered from both sites indicate that there are multiple ships at each site. The Company's highly experienced experts are in the process of conserving and evaluating thousands of artifacts recovered from the sites over the last two years. SEAI has retained an independent third party to appraise the artifacts. The collection is comprised of a number of important pieces including gold and silver coins.

As the conservation work progresses, additional items will be displayed on the website with appropriate comments by the experts. Bob Baca, CEO of Sovereign Exploration Associates International, Inc., said, "Each week, I am more excited about what we have recovered and we look forward to sharing information with our shareholders, collectors and other interested parties through our new website".

About Sovereign Exploration Associates International, Inc.

Sovereign Exploration Associates International, Inc. ( SVXP ) is a Business Development Company under the Investment Act of 1940 undertaking shipwreck exploration and recovery initiatives. Pursuant to Section 13 or 15(d) of the Security Exchange Act of 1934, SVXP has filed Form 8-K.
 

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