Annapolis, MD | May 20, 2015
Eclipse Group, Inc. (EGI), a company specializing in subsea search and recovery operations for both private and governmental sectors worldwide, announced today a partnership with Endurance Exploration Group, Inc. for the salvage of steamship Connaught, a gold-carrying shipwreck lost off the coast of New England in 1860.
Eclipse Group has negotiated a “cost-plus” contract, where Endurance will finance payments for all EGI operational expenses, personnel, engineers and technicians plus a 10% surcharge. In addition, Endurance will issue EGI 2,000,000 shares of its common stock (OTCQB:EXPL) with an agreed-upon value of $500,000. Operations are currently scheduled to begin with a mobilization in late June, the following onsite survey and salvage work commencing in July and continuing through September.
“We are very excited to work with Endurance Exploration Group on the shipwreck Connaught project,” said Steven Saint Amour, Eclipse Group’s Chief Operating Officer. “It’s a fascinating lost ship with a rich history, and we’re confident the operational experience of our personnel combined with our cutting-edge technical capability will get the job done.”
Please join Eclipse Group, Inc. and Endurance Exploration Group in Annapolis, MD for their Connaught expedition open house! This event will be an opportunity to meet the team, see our equipment and learn more about historic shipwrecks and undersea operations.
Please RSVP to Abby Lord (firstname.lastname@example.org) for location details and directions. You may also reach her at 727.502.0508.
Built and launched in 1860, the 380-foot iron-hulled sidewheel steamer Connaught was one of the most luxurious liners of her time. After departing Galway for Boston by way of St. John’s, Newfoundland for what was only her second transatlantic voyage, the Connaught sprung a leak and caught fire in a storm. Though her passengers and crew were successfully evacuated in a daring rescue, the ship sank along with an unrecovered gold cargo. The vessel was missing for more than 150 years until her rediscovery in 2013 by underwater salvage company Endurance Exploration Group.