Odyssey Marine (OMEX) Exploration and Capital Latinoamericano, or CapLat , have announced a joint venture to develop a strategic fertilizer project. Building on extensive research and validation of a high-quality phosphate resource within Mexico's Exclusive Economic Zone, the JV seeks to establish a private-public partnership with the Mexican government, promoting shared prosperity through sustainable agriculture that empowers farmers and strengthens local communities. "A secure, high-quality domestic fertilizer supply can be transformative for North America's agricultural foundation," said Juan Cortina, principal of CapLat. "We are excited about the opportunities this partnership presents for Odyssey's future growth," said Mark Gordon, CEO of Odyssey. "The increasing demand for sustainable fertilizers makes this joint venture both timely and essential. Over recent years, we have collaborated closely with Cortina to align our vision and expertise, and this partnership reflects our shared commitment to advancing responsible resource development that drives economic growth and agricultural progress." Odyssey also announced that it had entered into a securities purchase agreement pursuant to which Odyssey secured $4M in funding. The investment was led by Cortina, holders of Odyssey's debt, and Odyssey's lead director. It was priced at a premium to market with no warrants. The funding reflects the investors' confidence in the joint venture's potential and will provide working capital and funding for operations as the strategic project is developed. Separately, holders of Odyssey's debt have agreed to extend the maturity date of notes due December 2024 to December 2025 and notes due June 2025 to April 2026.