"We grieve the loss of life and joy they brought to everyone they knew."

Lost at Sea

OceanGate, the company behind the submarine that went missing on Sunday, has officially announced that it believes the crew of five "have sadly been lost."

And that tragically includes the company's founder and CEO.

“We now believe that our CEO Stockton Rush, Shahzada Dawood and his son Suleman Dawood, Hamish Harding, and Paul-Henri Nargeolet, have sadly been lost,” the company said in a statement, as quoted by CNN.

"These men were true explorers who shared a distinct spirit of adventure, and a deep passion for exploring and protecting the world’s oceans," the statement reads. "Our hearts are with these five souls and every member of their families during this tragic time. We grieve the loss of life and joy they brought to everyone they knew."

A Tragic End

It's an unfortunate, albeit unsurprising end to a weeklong saga that has gripped the world.

The submarine dubbed Titan went missing early Sunday morning, prompting a major international rescue mission.

Earlier today, the US Coast Guard announced that a remotely operated vessel had found a debris field, which experts later linked to the external body of the Titan sub, according to a memo reviewed by CNN.

The debris was found about a third of a mile off of the bow of the Titanic around 9 am Eastern time.

Experts were already worried that the submarine had reached the limit of its 96 hours worth of air supply.

"This is an extremely sad time for our dedicated employees who are exhausted and grieving deeply over this loss," OceanGate's statement reads.

"The entire OceanGate family is deeply grateful for the countless men and women from multiple organizations of the international community who expedited wide-ranging resources and have worked so very hard on this mission," the company wrote. "We appreciate their commitment to finding these five explorers, and their days and nights of tireless work in support of our crew and their families."

This is a developing story. We'll give updates on the situation as we learn more.

More on the submarine: Rescue Vessel Spots "Debris Field" During Search

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