Treasure & Shipwreck Recovery (OTCPK: BLIS) announces Letter of Intent to complete Reverse Merger

Rhea-AI Summary

Treasure & Shipwreck Recovery, Inc. (BLIS) signs LOI for reverse merger with Native American Pride Contractors, LLC, aiming to bring existing revenues, government contracts, and potential value from Corner Shot® USA weapon systems.

FT. PIERCE, Fla., Feb. 28, 2024 (GLOBE NEWSWIRE) -- The Board of Directors at Treasure & Shipwreck Recovery, Inc. ("TSR", “Beliss Corp” or "BLIS"), trading as (OTCPK: BLIS), announces that it signed a Letter of Intent (“LOI”) to effect a reverse merger with Native American Pride Contractors, LLC (“NAPC”) of Largo, FL. The companies are moving forward aggressively to execute a Definitive Agreement. Assuming the merger is completed on agreed terms, management at both BLIS and NAPC are confident the combined entities will be a win-win for all its investors and shareholders.

NAPC (https://www.napconstructorsgov.com/) brings existing and predictable revenues from a variety of services for the past 9 years. Native American Pride Constructors, LLC is a Native American, Minority owned, Disadvantaged Small Business, and Service Disabled Veteran Owned Small Business which enables it to provide contracting avenues in the Government sector. Additionally, the merger will include existing licenses allowing it to bid and win contracts in the Defense industry.

NAPC also brings significant potential value based on current interest and preliminary orders for its Corner Shot® USA weapon systems. The Corner Shot® enables military, law enforcement and security operators to effectively observe and accurately engage targets from around the corner or behind cover without exposing part of the operator’s body. NAPC signed an Agreement to form Corner Shot USA, and has plans to build the product at a manufacturing facility near its corporate offices. The Licensing Agreement allows NAPC to build and sell Corner Shot exclusively in the USA and Saudi Arabia.

About Treasure & Shipwreck Recovery

Treasure & Shipwreck Recovery, Inc. (Currently trading as BLIS) conducts shipwreck and treasure recovery from shallow shipwreck finds in the Caribbean and North America.

About Native American Pride Contractors, LLC

Native American Pride Constructors, LLC is a total solutions contractor licensed, certified and experienced in many aspects of construction services. NAPC benefits from the ability to bid and win contracts that are set aside in the Defense industry and the Department of Veterans Affairs for Certified Service-Disabled Veteran Owned Small Business (SDVOSB). NAPC will also produce and sell Corner Shot® USA weapons systems through an exclusive licensing agreement.

FORWARD LOOKING STATEMENTS:

This press release and the statements of representatives of TSR. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, TSR's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.

COMPANY CONTACT:

Website: www.treasurewreck.com
Investor Relations Email: ir@treasurewreck.com

SOURCE: Treasure & Shipwreck Recovery, Inc.

FAQ

What is the latest announcement from Treasure & Shipwreck Recovery, Inc. (BLIS)?

Treasure & Shipwreck Recovery, Inc. (BLIS) has signed a Letter of Intent (LOI) for a reverse merger with Native American Pride Contractors, LLC.

Who is Native American Pride Contractors, LLC (NAPC) and what do they bring to the merger?

Native American Pride Contractors, LLC (NAPC) is a Native American, Minority owned, Disadvantaged Small Business, and Service Disabled Veteran Owned Small Business. They bring existing revenues, government contracting avenues, and potential value from Corner Shot® USA weapon systems.

What is the significance of the existing licenses brought by NAPC in the merger?

The existing licenses brought by NAPC in the merger allow them to bid and win contracts in the Defense industry.

What is the potential value of Corner Shot® USA weapon systems mentioned in the announcement?

Corner Shot® USA weapon systems enable military, law enforcement, and security operators to observe and engage targets effectively from around corners or behind cover without exposing themselves.

Where does NAPC plan to build the Corner Shot® USA weapon systems?

NAPC plans to build the Corner Shot® USA weapon systems at a manufacturing facility near its corporate offices.