Odyssey Marine Exploration, Inc. Announces Board and Executive Changes
March 13, 2021 at 02:46 am IST
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On March 8, 2021, the board of directors (the “Board”) of Odyssey Marine Exploration, Inc. (“Odyssey”) increased the number of directors constituting the Board from six to seven and elected Todd E. Siegel to fill the vacancy created thereby, with Mr. Siegel’s election to be effective on March 16, 2021. Mr. Siegel will hold office until the next election of directors and until his successor is elected and qualified or until his earlier resignation or removal. Mr. Siegal will serve on the Audit Committee, the Compensation Committee, and the Nominating and Governance Committee, and he will receive compensation under the Company’s Non-Employee Director Compensation Plan. Mr. Siegel is currently the Chief Executive Officer of Centered Solutions, LLC, a position he has held since 2017. Previously, Mr. Siegel served as President and Chief Executive Officer of MTS Medication Technologies, Inc. from 1993 to 2010. On March 8, 2021, the Board also appointed Laura L. Barton as Chief Business Officer, a newly created position, to lead business operations and strategic initiatives for the Company, allowing the President and COO to focus on expanding and increasing the value of Company’s mineral portfolio. Ms. Barton also serves as a member of the Board and as Odyssey’s Corporate Secretary.
Odyssey Marine Exploration, Inc. discovers, validates, and develops seafloor mineral resources. The Company has a diversified mineral portfolio, which includes projects controlled by the Company and other projects in which it has a minority owner and service provider. The Companyâs projects include the Exploraciones Oceanicas Phosphate Project, CIC Project, and LIHIR Gold Project. The Exploraciones Oceanicas Phosphate Project is a rich deposit of phosphate sands located 70-90 meters deep within Mexicoâs Exclusive Economic Zone. The project is located approximately 25-40 kilometers from the coast of Baja California Sur, Mexico. The Lihir Gold Project covers a subsea area, which contains at least five prospective gold exploration targets in two different mineralization types: seamount-related epithermal and modern placer gold. It has one material mining project, the Don Diego Phosphorite Project, which is located in the Mexican Exclusive Economic Zone.