BWMG News .0095 Brownie's Marine Group Files Claim for Economic Damages Against the Deepwater Horizon Settlement Fund

2012-07-02 09:17 ET - News Release

FORT LAUDERDALE, Fla., July 2, 2012 (GLOBE NEWSWIRE) -- Brownie's Marine Group, Inc. (OTCBB:BWMG), a leading developer, manufacturer and distributor of highly specialized dive and safety products, today announced that it had filed a claim against the BP Deepwater Horizon Settlement Fund to recover economic damages it had suffered as a result of the BP oil spill in the Gulf of Mexico on April 20, 2010.

Robert Carmichael, Chairman and CEO stated, "The BP oil spill had a significant negative economic impact on our business in the Gulf States where we operate. I'm pleased to report that a recovery has started to occur in the affected areas with respect to orders we are seeing for Brownie's products, however, we still see the lingering impact of the spill. We have filed this claim because we believe we are entitled to substantial compensation for the loss of orders we suffered subsequent to the oil spill."