Odyssey Marine Exploration Announces the Departure of its Chief Financial Officer
June 13 2023 - 8:30AM
Business Wire
Odyssey Marine Exploration, Inc. (NASDAQ: OMEX), a global subsea
mineral exploration, validation, and development company, announced
that Christopher E. Jones, Odyssey’s Chief Financial Officer (CFO),
will leave the company on July 7, 2023, to pursue another
opportunity.
Mr. Jones will continue to support Odyssey in an advisory role
after his departure. Odyssey intends to appoint an experienced
interim CFO, while Odyssey searches for a permanent CFO with a
skill set that aligns with Odyssey’s future growth plans. During
this period, the company expects to reduce its administrative
expenses but will continue to have appropriate management and
controls in place.
“Throughout his two years with Odyssey, Mr. Jones has been a
valuable member of our team who was able to arrange and execute
complex financial transactions. His focus on and success in
improving our balance sheet, eliminating outstanding debt, and
improving our liquidity places Odyssey in a position to achieve our
next set of goals as we continue to build our portfolio and
position our company as the world’s leading marine mineral
development company,” said Mark Gordon, Odyssey’s Chief Executive
Officer.
The company continues to evaluate its organizational structure
to support its business goals and plans to add experienced mining
industry veterans to its current management team, further enhancing
its ability to improve the value of its growing portfolio of
mineral investments.
“I remain excited about Odyssey’s future as the company
continues exploring the ocean for critical mineral resources in
increasingly high demand. Odyssey is in a better position now to
continue transitioning towards leadership in marine mineral
exploration and investment,” said Mr. Jones.
Odyssey does not expect Mr. Jones’ departure to impact its
initiatives, including its recently announced investment in Ocean
Minerals, LLC (OML).
About Odyssey Marine Exploration
Odyssey Marine Exploration, Inc. (Nasdaq: OMEX) is a deep-ocean
exploration pioneer engaged in the discovery, validation and
development of subsea mineral deposits in a socially and
environmentally responsible manner. Odyssey provides marine
services for private clients and governments who are interested in
exploring their Exclusive Economic Zone (EEZ) to survey, map and
identify any potential mineral resources present. The company
focuses on the exploration of polymetallic nodules (battery metals
to power the future) and subsea phosphate deposits (fertilizer to
feed the future) which the company believes will provide a benefit
to society now and in the future, For additional details, please
visit www.odysseymarine.com. An investor presentation is available
in the Investors section of the website.
Forward Looking Information
Odyssey Marine Exploration believes the information set forth in
this Press Release may include "forward looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Act of 1934. Certain factors that could cause
results to differ materially from those projected in the
forward-looking statements are set forth in "Risk Factors" in Part
I, Item 1A of the Company's Annual Report on Form 10-K for the year
ended December 31, 2021, which was filed with the Securities and
Exchange Commission on March 31, 2022. The financial and operating
projections as well as estimates of mining assets are based solely
on the assumptions developed by Odyssey that it believes are
reasonable based upon information available to Odyssey as of the
date of this release. All projections and estimates are subject to
material uncertainties and should not be viewed as a prediction or
an assurance of actual future performance. The validity and
accuracy of Odyssey's projections will depend upon unpredictable
future events, many of which are beyond Odyssey's control and,
accordingly, no assurance can be given that Odyssey's assumptions
will prove true or that its projected results will be achieved.
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version on businesswire.com: https://www.businesswire.com/news/home/20230613363683/en/
Liz Shows Odyssey Marine Exploration, Inc. (813) 876-1776
lshows@odysseymarine.com
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