Underseas Research & Recovery Ltd.
Underseas Research & Recovery Ltd.: SBN GROUP ORGANIZES FOR GROWTH
Underseas Research & Recovery Ltd. / Key word(s): Miscellaneous SBN GROUP ORGANIZES FOR GROWTH FOR IMMEDIATE RELEASE TORONTO – November 11, 2012 – Underseas Research & Recovery Ltd. (‘Underseas’ or the ‘Company’), a Toronto based holding company for SBN Group (‘SBN’) is organizing to take advantage of emerging technology trends driving the world wide market for music consumption. The integration of mobile devices into people lives is both increasing, and occurring at an early age. NPD Group estimates that children as early as 5 years old are embracing mobile technology, with iPod touch leading the way, and suggests that music applications (or apps) are as important to kids and tweens as is social networking. NPD estimates that music apps are used by 50% of North American and Western European children aged 12 – 14. As a result, new distribution in the music industry is geared towards revenue of singles, and primarily, that consumption is being driven by streaming. Nielsen reports that of the approximately 30 billion total music streams and transactions that took place in 2011, 21 billion or 70% were streams. For the first 5 months of 2012 alone, Nielsen reported approximately 11.2 billion streams, and is projecting that streaming activity will increase by 33% by end of the year. ‘Mainstream acceptance of digital music subscription services and the items that drive it including: social media, social recommendation apps, social sharing and cloud computing is changing the face of the music industry, and SBN expects to be perfectly positioned to take advantage of these trends in streaming music,’ said Berl Bessin, President of SBN. SBN is looking at companies such as: Spotify, Rdio, MOG Slacker, Rhapsody, Deezer and other music streaming companies as gateways through which to expand and leverage its existing infrastructure for further growth in Europe and the Mediterranean. About Underseas Research & Recovery Ltd.
Shares of Underseas are listed on the Open Market segment of the Frankfurt and Berlin Stock Exchanges. Canadian business incubator Indenture Investments Limited which, also listed on the Frankfurt Stock Exchange under the Symbol cbh holds approx. 75% of the outstanding shares of Underseas. Disclaimer; Forward-Looking Statements: Any statements contained in this document that are not historical facts are forward-looking statements as defined in the U.S. Private Securities Litigation Reform Act of 1995. Words such as ‘anticipate,’ ‘believe,’ ‘estimate,’ ‘expect,’ ‘forecast,’ ‘intend,’ ‘may,’ ‘plan,’ ‘project,’ ‘predict,’ ‘should’ and ‘will’ and similar expressions as they relate to Underseas Research & Recovery Ltd. are intended to identify such forward-looking statements. Underseas Research & Recovery Ltd. undertakes no obligation to publicly update or revise any forward-looking statements. All forward-looking statements are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of their dates. Although we believe that the beliefs, plans, expectations and intentions contained in such statements are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. This or any other statement from the company or its representatives does not constitute an offer or a solicitation of an offer for the purchase or sale of any shares or other securities of Underseas Research & Recovery Ltd. There are substantial risks associated with investing in development stage companies. Potential investors should seek advice from a qualified financial dealer prior to investing in Underseas Research & Recovery Ltd. For Media and Investor Information: Mr. Berl Bessin Underseas Research & Recovery Ltd.
End of Corporate News 12.11.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
192754 12.11.2012 |