Odyssey Marine Exploration: Gains as co seeks damages in Mexico NAFTA case

Odyssey Marine Exploration

16/09/2020 15:35

** Shares of deep ocean explorer  OMEX.O  up 3.2% to $7.33
    ** Says it filed the First Memorial in the case brought
against Mexico under the North American Free Trade Agreement
(NAFTA) on Sept. 4  urn:newsml:reuters.com:*:nGNX15JJR
    ** The Memorial, filed on behalf of co and its unit
Exploraciones Oceánicas (ExO), alleges that Mexico wrongfully
denied environmental approval of the ExO Phosphate project in
breach of NAFTA
    ** Co seeks damages of more than $2.3 billion including
interest from April 2016 to the date of the First Memorial's
submission
    ** Adds that the NAFTA hearing is scheduled to take place in
January 2022 unless settled earlier by the parties

 (Reporting by Shruti Sonal in Bengaluru)
 ((Shruti.Sonal@thomsonreuters.com; Twitter: @shrutisonal26))