Premier Exhibitions, Inc. Provides Update on Auction of Titanic Artifacts Collection
ATLANTA, Georgia – April 10, 2012 – Premier Exhibitions, Inc. (NASDAQ: PRXI), a leading presenter of museum-quality touring exhibitions throughout the world, today provided an update on the auction of its Titanic artifact collection. The Company and its subsidiary RMS Titanic, Inc., in conjunction with Guernsey’s Auction House, is holding for auction more than 5,000 artifacts recovered from the Titanic wreck site, along with related intellectual property and intangibles.
The Company announced today that it is in discussions with multiple parties for the purchase of its Titanic artifacts collection. In order for the Company to settle on the most appropriate bidder and maximize the ultimate value of the artifacts for shareholders, it will conduct these negotiations and due diligence in confidence. Consequently, the Company will provide an additional update to shareholders as soon as practical, and the press conference originally scheduled for April 11, 2012, will be rescheduled accordingly.
About RMS Titanic, Inc., a wholly owned subsidiary of Premier Exhibitions, Inc.
RMS Titanic, Inc., a wholly owned subsidiary of Premier Exhibitions, Inc., is the only company permitted by law to recover objects from the wreck of Titanic. The Company was granted salvor-in-possession rights to the wreck of Titanic by the United States District Court for the Eastern District of Virginia, Norfolk Division in 1994 and has conducted eight research and recovery expeditions to Titanic recovering more than 5,000 artifacts. In the summer of 2010, RMS Titanic, Inc. conducted a ground-breaking expedition to Titanic 25 years after its discovery, to undertake innovative 3D video recording, data gathering and other technical measures so as to virtually raise Titanic, preserving the legacy of the ship for all time.
About Premier Exhibitions
Premier Exhibitions, Inc. (NASDAQ: PRXI), located in Atlanta, GA, is a major provider of museum quality exhibitions throughout the world and a recognized leader in developing and displaying unique exhibitions for education and entertainment. The Company’s exhibitions present unique opportunities to experience compelling stories using authentic objects and artifacts in diverse environments. Exhibitions are presented in museums, exhibition centers and other entertainment venues.
Additional information about Premier Exhibitions is available at www.prxi.com.
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