WLM, Inc. Offers $40 Million for RMS, Titanic, Inc.

Share Article

G. Michael Harris, world renowned Titanic explorer, adventurer and one of the original founders of RMS Titanic, Inc., announces today that his company WLM, Inc. has made two offers totaling a combined $40 million to Premier Exhibitions and Sellers Capital, LLC for the right to enhance and expand RMS Titanic Inc.

G. Michael Harris

As a founder of RMS Titanic, Inc., it has always been my desire and commitment to preserve Titanic for future generations

G. Michael Harris, world renowned Titanic explorer, adventurer and one of the original founders of RMS Titanic, Inc., announces today that his company WLM, Inc. has made two offers totaling a combined $40 million to Premier Exhibitions and Sellers Capital, LLC for the right to enhance and expand RMS Titanic Inc., a wholly owned subsidiary of Premier Exhibitions (PRXI). WLM, Inc. offered $25 million for an exclusive, multi-year management agreement of RMS Titanic, Inc which will include all touring, expedition and salvage rights to the wreck of the RMS Titanic.

In a separate proposal Mr. Harris, CEO/President of WLM, Inc., has offered $3 per share to Sellers Capitol LLC and its affiliates, which include Contango Oil & Gas (MCF), who are the beneficiaries of 4,778,399 shares of common stock of Premier Exhibition, representing 16.3% of the company's outstanding shares, including all board and executive positions. After meeting with Mark Sellers III, Premier Exhibitions Chairman of the Board and managing partner of Sellers Capital LLC, as well as Christopher Davino, Premier Exhibitions CEO at their corporate offices in Atlanta during February, 2009, WLM, Inc. began the process of constructing the offers. "As a founder of RMS Titanic, Inc., it has always been my desire and commitment to preserve Titanic for future generations," stated G. Michael Harris. "It is also my goal to increase the value of Premier Exhibitions for it shareholders in a way that continues to enhance and commemorate the historical importance of Titanic."

Born in Clearwater, Florida, G. Michael Harris has spent the last 25 years cultivating his research, knowledge and exploration of Titanic. He has led one of the largest expeditions to the Titanic wreck site, salvaging over 1,000 new artifacts in 2000 and personally making more than 8 dives to the site during his continuing career. Recently, Mr. Harris led a return expedition to Titanic with his son, Sebastian Harris, who set the Guinness World Record as the "Youngest Person to Dive to Titanic" at 12,800 ft.

Mr. Harris also developed and founded the Orlando based attraction TITANIC - THE EXPERIENCE. The interactive experience; owned and operated WLM, Inc., marks its 10th Anniversary as one of Orlando's most acclaimed attractions this week. Over 2 million 'passengers' have boarded this unique attraction during its first 10 years and expectations are high for the future.

"Titanic has been a life-force and adventure for me and my family. Bringing this exciting experience to Orlando and having it so well received over the years has been an honor and privilege," said G. Michael Harris. "We want everyone to have a chance to feel what it's like to explore this famous ship, which is why we are ultimately pursing this investment in Premier Exhibitions and RMS Titanic, Inc."

###

Share article on social media or email:

View article via:

Pdf Print

Contact Author

David Christensen
Visit website