CHARLESTON, S.C., May 19, 2005 (PRIMEZONE) -- Global Marine Ltd. (Pink Sheets:GLBM) announced today that progress on the acquired book and film "ROBERT SMALLS: An African American Legend" is moving ahead on schedule.
The production will be financed by a Los Angeles-based production team, lead by its Executive Producer and through a number of other outside sources familiar with capitalizing award winning films. Global Marine Ltd. will receive royalties related to the film, books and other ancillary products associated with this production.
On May 9th, 2005 South Carolina's Governor Mark Sanford signed into Law Bill H. 3152 -- a film incentive act that makes South Carolina more competitive in attracting motion picture and TV productions, including wage and tax breaks.
This legislation was the deciding factor for the executive producers of the "Robert Smalls" film to use Charleston, South Carolina as the location for this historical epic motion picture.
Global's management will attend the Hollywood pre-production conference May 29th and will be meeting with acclaimed director Silvio Pollio, (Winner Best Picture, Winner Best Producer-Queens, New York International Festival), script writers, the executive producer, the musical score director and others associated with the film.
Global's search for The Planter is underway. Film footage taken by GLBM on the Planter shipwreck and dive operations may be sold by the Company or used in the epic. Artifacts and other slavery items from past dives will be offered to the newly planned $50 million International African American Museum located in Charleston, S.C., scheduled to be opened 2008.
Further information on the life of Robert Smalls, the film, The Planter and other shipwreck progress may be found on the Company's website.
Global Marine Ltd.
Global Marine, Ltd. is a publicly traded firm whose primary business is in the oceanographic and historic marine archaeological fields. Global Marine Ltd. seeks to continuously acquire innovative technology and other like businesses that offer its shareholders exceptional growth opportunities. Global Marine Ltd. currently is involved with a number of found historic shipwreck sites worldwide, each with a large quantity of verifiable cargo.
This press release does not constitute an offer to sell or a recommendation to purchase any securities.
This press release may contain forward-looking statements, including the company's beliefs about its business prospects and future results of operations. These statements involve risks and uncertainties. Among the important additional factors that could cause actual results to differ materially from those forward-looking statements are risks associated with the overall economic environment, the successful execution of the company's plan of operation, changes in the company's anticipated earnings, continuation of any contracts, changes in other applicable regulations, and other factors that will be detailed in the company's filings with the Securities and Exchange Commission. In addition, the factors underlying company forecasts are dynamic and subject to change and therefore those forecasts speak only as of the date they are given.
The information provided in this press release is provided solely for the reader's general knowledge, it is not intended to be a comprehensive review for all matters and developments concerning the Company.