Pangaea Logistics Solutions Announces Agreement to Purchase Third Party Equity Ownership of Nordic Bulk Partners
Upon the completion of the transaction, Pangea will own 100% of the equity in
"This strategic move to take full ownership of these four modern dry bulk vessels further consolidates our fleet of niche Ice Class 1A vessels, cleans up our balance sheet, and improves our operating cash generation" stated
ABOUT
FORWARD-LOOKING STATEMENTS
Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Litigation Act of 1995. These forward-looking statements are based on our current expectations and beliefs and are subject to a number of risk factors and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. The Company disclaims any obligation to publicly update or revise these statements whether as a result of new information, future events or otherwise, except as required by law. Such risks and uncertainties include, without limitation, the strength of world economies and currencies, general market conditions, including fluctuations in charter rates and vessel values, changes in demand for dry bulk shipping capacity, changes in our operating expenses, including bunker prices, dry-docking and insurance costs, the market for our vessels, availability of financing and refinancing, charter counterparty performance, ability to obtain financing and comply with covenants in such financing arrangements, changes in governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents or political events, vessels breakdowns and instances of off-hires and other factors, as well as other risks that have been included in filings with the
INVESTOR RELATIONS CONTACTS
Chief Financial Officer
401-846-7790
Investors@pangaeals.com
PANL@val-adv.com
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