TOP Ships Inc. Agrees Promissory Note
May 15 2017 - 9:21AM
TOP Ships Inc. (Nasdaq:TOPS) (“Top Ships” or the “Company”), an
international owner and operator of modern, fuel efficient “ECO” MR
tanker vessels focusing on the transportation of petroleum
products, announced today that it has agreed to enter into a Note
Purchase Agreement (the "Purchase Agreement") with Xanthe Holdings
Ltd. ("Xanthe"), an unaffiliated party, pursuant to which the
Company will issue an unsecured promissory note in the original
principal amount of $5,000,000 (the "Promissory Note") to Xanthe.
Proceeds from the note will be used by the Company for general
corporate purposes including further asset acquisitions.
The transaction is subject to customary closing
conditions.
About TOP Ships Inc.
TOP Ships Inc. is an international ship-owning company.
For more information about TOP Ships Inc., visit its
website: www.topships.org. The information contained on
the Company’s website does not constitute a part of this press
release.
Forward-Looking Statements
Matters discussed in this press release may constitute
forward-looking statements. The Private Securities Litigation
Reform Act of 1995 provides safe harbor protections for
forward-looking statements in order to encourage companies to
provide prospective information about their business.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements, which are other than
statements of historical facts.
The Company desires to take advantage of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and is including this cautionary statement in connection with this
safe harbor legislation. The words "believe," "anticipate,"
"intends," "estimate," "forecast," "project," "plan," "potential,"
"may," "should," "expect" "pending" and similar expressions
identify forward-looking statements. The forward-looking statements
in this press release are based upon various assumptions, many of
which are based, in turn, upon further assumptions, including
without limitation, our management's examination of historical
operating trends, data contained in our records and other data
available from third parties. Although we believe that these
assumptions were reasonable when made, because these assumptions
are inherently subject to significant uncertainties and
contingencies which are difficult or impossible to predict and are
beyond our control, we cannot assure you that we will achieve or
accomplish these expectations, beliefs or projections.
Contacts:
Alexandros Tsirikos
Chief Financial Officer
TOP Ships Inc.
1, Vassilissis Sofias Str. &
Meg. Alexandrou Str.
151 24, Maroussi, Greece
Tel: +30 210 812 8180
Email: atsirikos@topships.org
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