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Seafarer Exploration Corp (OTCQB: SFRX) is a pioneering underwater exploration and technology company headquartered in Tampa, Florida. Located at 14497 N Dale Mabry Hwy, Seafarer is dedicated to the archaeologically sensitive research, documentation, exploration, recovery, and conservation of historic shipwrecks.
The company has recently made significant progress with the Juno Beach project in Florida. Seafarer successfully obtained a 5-year Letter of Permission from the United States Army Corps of Engineers (USACE) and additional permits from the State of Florida Division of Historical Resources (DHR) and the Florida Department of Environmental Protection (FDEP). These permits grant Seafarer the sole and exclusive right to explore the Juno Beach site, believed to be home to a historic mid-1500s shipwreck.
Seafarer employs a team of veteran underwater archaeologists and utilizes advanced, proprietary technology, such as the SeaSearcher, to set new standards in underwater archaeology. The company recently recovered a silver coin from the Juno Beach site, originating from the Carlos and Joanna mint dating back to 1554-1572, validating the historical significance of their findings.
In addition to the Juno Beach project, Seafarer has renewed permits for two additional sites in Melbourne Beach, Florida. These sites are believed to contain remnants of colonial-era shipwrecks. The company continues to work closely with the Florida Bureau of Archaeological Research to recover and preserve artifacts from these locations.
Financially, Seafarer is positioned for growth, securing a million-dollar debt financing instrument with a 6% interest rate, which will fund ongoing and future projects. With a multidimensional team of scientists, historians, and technologists, Seafarer is at the forefront of underwater rescue archaeology, dedicated to uncovering and preserving maritime history.
Seafarer Exploration Corp. (OTCQB: SFRX) announced the construction of its second-generation SeaSearcher platform aimed at enhancing underwater exploration. The new design boasts improved metal discrimination and 3D imaging capabilities, allowing for effective operation in both autonomous and towfish modes. CEO Kyle Kennedy highlighted successful field tests and noted the identification of various metals at the Melbourne Beach Area. The SeaSearcher is expected to scan additional shipwreck sites, and there is interest from treasure salvors to lease the technology.
Seafarer Exploration Corp. (OTCQB: SFRX) announced a new initiative to share underwater archaeology work with the public via media platforms like YouTube, beginning this week. CEO Kyle Kennedy emphasized the importance of public sharing and the company's alignment with the Florida Division of Historical Resources. Seafarer has created a subsidiary, Exploration Studios, LLC, to enhance revenue through media outreach. The company continues to engage in significant archaeological research and exploration off the Florida coast.
Seafarer Exploration Corp. (SFRX) announced it received a notice from the Florida Department of State stating they lack the authority to permit or deny recovery activities on a shipwreck located at Juno Beach. This acknowledgment affirms Seafarer’s exclusive ownership of the wreck, as determined by a U.S. District Court in 2017. CEO Kyle Kennedy expressed relief over this decision, emphasizing potential savings in time and costs. The company will still require permits from the Florida Department of Environmental Protection and the U.S. Army Corps of Engineers.
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