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Update: March 2014

Checkmate Seaenergy is delighted to announce that the company has acquired all the underlying IP and the worldwide patents covering the concept of bulge wave technology.

After a long gap in development created by protracted legal negotiations, the company is now firmly back on track with significant grant support from the UK’s Department of Energy and Climate Change (DECC) and loan funding from Checkmate Ltd. Black and Veatch have been commissioned to review their technical report of 2012, (originally produced by Carbon Trust) and update whilst BDO, the leading city accountants, will be reviewing and updating the financial projections and business plan.

Both independent reports are expected in the next 8 weeks.

Once the reports have been assessed a further announcement will be made as to the development programme and projected timescale on the road to commercialisation. There will be additional information as to investor participation at the same time.

Risk Warning

This communication is issued in the UK by Checkmate Seaenergy Ltd. (“the Company”). This communication is for information purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any shares in Company. No such offer or solicitation will be made except pursuant to a prospectus or information memorandum or other offering document if and when issued by the Company.