Negotiated debt settlement of limits further significant share dilution in the forseeable future

FT. PIERCE, FL / ACCESSWIRE / June 29, 2023 / Treasure & Shipwreck Recovery, Inc. ("TSR" or "the Company"), trading as (OTC PINK:BLIS), announces it has successfully negotiated a Payoff Agreement with its primary debtholder that will minimize further share dilution. Currently, the total common shares issued and outstanding stands at 50,580,097, shares with no other classes of stock that is convertible to common shares

CEO Craig Huffman stated, "We were able to negotiate a mutually beneficial settlement with our primary debtholder that we believe is in the best interest of our shareholders." He continued, "We appreciate the assistance this debtholder has provided in the past, and believe this restructuring will drive value for our shareholders."

Earlier this year, TSR successfully raised equity financing that allowed the Company to increase its fleet of vessels, hire additional crew, and acquire valuable equipment / resources for treasure recovery this season. The Company has two thus successful crews for the last month working on known treasure sites for what management believes will be an epic treasure recovery season, as well as develop a variety of other revenue producing verticles.

About Treasure & Shipwreck Recovery
Treasure & Shipwreck Recovery, Inc. (Currently trading as BLIS) conducts shipwreck and treasure recovery from shallow shipwreck finds in the Caribbean and North America. Through certain exploration, survey and recovery techniques, we use innovative methods and state-of-the-art technology to provide access to known wreck site areas, as well as plans to explore key suspected large unrecovered wreck sites outside of State of Florida waters. We intend to expand into media projects involving games, television and sales of artifacts using our web development methods and expertise. We now own the following vessels the R/V Bellows large recovery and search vessel, the M/V Bottomline on site recovery vessel, a second on site recovery vessel, a leased survey vessel, and owns two smaller service vessels that service and assist on sites already active and producing.

Treasure & Shipwreck Recovery, Inc. also owns 40% of Kraken Treasure, LLC. whereby an exclusive NFT and gaming project, World of Treasure, has created NFTs of the collection for sale. Such NFT collection will be part of the first "Pirate 888" collection.

Please follow TSR at our Facebook Page: https://www.facebook.com/treasurewrecked.

Our website will be updated as new matters are announced including recoveries, media developments, and advances with the gaming division at www.treasurewreck.com. Also, visit our Instagram at https://www.instagram.com/treasurewrecked/. World of Treasure and the NFT collection can be found at www.WorldOfTreasure.io.

FORWARD-LOOKING STATEMENTS:
This press release and the statements of representatives of TSR. (the "Company") related thereto contain, or may contain, among other things, "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information. These forward-looking statements are subject to significant known and unknown risks and uncertainties and are often identified by the use of forward-looking terminology such as "guidance," "projects," "may," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "ultimately" or similar expressions. All forward-looking statements involve material assumptions, risks and uncertainties, and the expectations contained in such statements may prove to be incorrect. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results (including, without limitation, TSR's ability to advance its business, generate revenue and profit and operate as a public company) could differ materially from those stated or anticipated in these forward-looking statements as a result of a variety of factors, including factors and risks discussed in the periodic reports that the Company files with OTC Markets (Pink Sheets). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. The Company undertakes no duty to update these forward-looking statements except as required by law.

COMPANY CONTACT:
Website: www.treasurewreck.com
Investor Relations Email: ir@treasurewreck.com
Investor Relations Telephone: (813) 563-8777

SOURCE: Treasure & Shipwreck Recovery, Inc.