ATLANTA, Dec. 7, 2010 (GLOBE NEWSWIRE) -- UnderSea Recovery Corporation ("UnderSea") (Pink Sheets:UNDR) (formerly LGAL) is pleased to announce its new trading symbol of UNDR. The new symbol was issued late last week by FINRA and is more descriptive of UnderSea's corporate name.
In making this announcement, Herbert C. Leeming, UnderSea's CEO, stated: "We are delighted to finally secure our new trading symbol. We had applied for UNSR to become our trading symbol, but FINRA reported a conflict with the symbol UNSR which precluded its issuance to us. However, we are fine with UNDR and its clear relationship to our corporate name. The new symbol will alleviate any market confusion from our prior symbol of LGAL which was related to our old corporate name and will give us greater and clearer market identification which was much needed. Moreover, this long-awaited step now clears the way for the incremental funding we have had in the works for some time, but could not move ahead with until the issuance of our new (and improved) trading symbol."
About the Company
UnderSea is engaged in the business of locating and recovering historic shipwrecks, primarily those from the 15th through 19th centuries, and other cultural resources (artifacts and other objects of historical and archaeological interest) from the world's oceans and large lakes by applying advanced technologies in an environmentally responsible manner.
Forward-Looking Statements Caution:
This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Please visit our web Site: , which will be markedly improved and upgraded over the next few weeks.
CONTACT: UnderSea Recovery Corporation Bobby Goldman, VP - Business Development 212-628-8777 (404) 826-1164 bobby777@rcn.com P.O. Box 28961 Atlanta, GA 30358