Sovereign Exploration Associates International, Inc. Announces Positive Results in Nova Scotia Supreme Court Case
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NEWTOWN, PA, Apr 10 (MARKET WIRE) --
Sovereign Exploration Associates International, Inc. (OTCBB: SVXA), a maritime
asset
recovery and subsea construction management company, today announced the
decision of
the Nova Scotia Supreme Court.
Sovereign filed a lawsuit against the Province of Nova Scotia in 2007 when
denied the necessary recovery permit for one of the Company's licensed shipwreck
sites because the British government's claim of ownership was accepted by
certain government officials without contest and without fair and due process.
The Nova Scotia Supreme Court stated in a written decision that the rules of
justice and procedural fairness needs to be applied to a licensee in good
standing before government officials arbitrarily accept a foreign nation's
ownership claim without question and without giving said licensee the
opportunity to disprove it.
In 2006 the UK claimed sovereign ownership under "international law" to a
British warship called HMS Fantome that is believed to have sunk in the
Company's licensed area near Halifax. A concretion field was discovered there
that
may be cargo from the Fantome and several US transport vessels seized by the
English in 1814. There are no longer any hulls of ships at this site because
the wood rotted away long ago, and the historical records clearly indicate there
was no loss of life when the Fantome fleet sank. Therefore, England needs to
substantiate what "International law" is the basis for its claim of ownership
in Nova Scotia waters to the cargo it abandoned almost 200 years ago
following an unsuccessful salvage attempt shortly after the sinking. Especially,
if it is plunder the British Army stole from the White House and the US
Treasury after ransacking and burning our Nation's Capitol. We believe time is
of
the essence to recover America's real national treasure from the discontinuous
assemblage of maritime artifacts that is being eroded away by harsh winter
storms there. Sovereign discovered this site and wants to recover and conserve
theartifacts to exhibit them in time for the upcoming bicentennial
celebrationof the War of 1812. To expedite the recovery process the Nova Scotia
Museumcan set aside for England anything we find that is British.
"We look forward to meeting with the appropriate government officials to
insure the proper and timely recovery and conservation of the artifacts from the
Fantome fleet site that may hold America's true missing national treasure. We
formed a joint venture with the National Constitution Center in Philadelphia,
which has over one million visitors a year, to exhibit the artifacts there,
as well as what the Nova Scotia Museum will put on display to enhance the
notable
increase in tourism to the Province. We anticipate a positive inter exchange of
artifacts and exhibit work between both these national institutions to maximize
the public's interest in both countries and to facilitate an international
traveling exhibit to England. We have received many inquiries from
politicians, government officials and institutions about how they can assist
us in our effort. An election year always seems to raise the level of
patriotism in the American people", commented Bob Baca, President of Sovereign.
"In addition to the steps being taken to resolve the Fantome fleet matter,
we
have a very full 2008 recovery season planned for two of our other valuable
sites and we have been receiving positive support from the government
agencies involved with the process. We have always viewed our relationship
with the Province of Nova Scotia as a strong partnership and we are very
appreciative of the opportunities afforded to our Company through the licenses
that have been granted to us," stated Captain Robert MacKinnon, who heads
Sovereign's Nova Scotia operations.
"The Supreme Court decision is a welcomed step towards having all parties
involved work together on all our recovery projects. We have always
enjoyeda very good relationship with the Province of Nova Scotia and we hope
this
decision paves the way to continue sharing with the Nova Scotia Museum the
artifacts we recover and conserve, as we were doing before the British claim, so
that the archeologists can identify what we find at our different debris sites,
and
the public can benefit from the historic knowledge that is gained from this,"
stated Peter Knollenberg, Chairman of Sovereign.
About Sovereign Exploration Associates International, Inc.
Sovereign Exploration Associates International, Inc. is a maritime
exploration
company that researches, digitally maps, records, recovers, and conserves
artifacts from shipwreck sites. The Company is diversified into other marine
related businesses. Through its wholly owned subsidiaries, Lavelle Holdings,
Inc., and
Ocean King Overseas Limited, Sovereign provides subsea marine consulting
services,
offshore project management and engineering, procurement, and construction.
The Company cannot guarantee or give any other level of assurance that the
shipwrecks or cargoes mentioned above will be located and/or recovered nor
that a claim of ownership might be made against the shipwreck or its cargo by
any sovereign authority or company. Pursuant to Section 13 or 15(d) of the
Security Exchange Act of 1934, SVXA has filed form 8-K if required. For more
information on the company, please visit www.sea-int.com.
Statements about the Company's future expectations, including future
revenues
and earnings, and all other statements in this press release other than
historical facts are "forward-looking statements" within the meaning of section
27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of
1934 and as the term is defined in the Private Securities Litigation Reform Act
of
1995. The company's actual results could differ materially from expected
results. The Company undertakes no obligation to update forward-looking
statements to reflect subsequently occurring events or circumstances. Should
events occur which materially affect any comments made within this press release
the Company will appropriately inform the public.
Company Contact:
Robert D. Baca
President & CEO
215.968.0200
Copyright 2008, Market Wire, All rights reserved.
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