Globus Maritime Limited Announces Closing of $15 Million Revolving Facility
November 23 2018 - 9:00AM
Globus Maritime Limited (“Globus” or the “Company”) (NASDAQ: GLBS),
a dry bulk shipping company, announced today that it has signed
definitive documentation with Firment Shipping Inc. (“Firment”), an
entity deemed as an affiliated party through common control. The
Company has previously announced its intent to reach relative
agreement.
The transaction comprises a new “Revolving
Credit Facility” agreement up to US$15 million. The new Revolving
Credit Facility carries an interest rate of seven percent (7%) per
annum. It also carries a conversion clause, at any time
during the term of the loan, the Borrower and only the Borrower,
shall have the right, in its sole option, to convert in whole or in
part the outstanding unpaid principal amount and accrued but unpaid
interest under the Agreement into Common Stock.
The transaction was approved by the Company’s
independent members of the board.
About Globus Maritime
LimitedGlobus is an integrated dry bulk shipping company
that provides marine transportation services worldwide and
presently owns, operates and manages a fleet of dry bulk vessels
that transport iron ore, coal, grain, steel products, cement,
alumina and other dry bulk cargoes internationally. Globus’s
subsidiaries own and operate 5 vessels with a total carrying
capacity of 300,571 DWT and a weighted average age of 10.6 years as
of September 30, 2018.
Safe Harbor StatementThis
communication contains “forward-looking statements” as defined
under U.S. federal securities laws. Forward-looking statements
provide the Company’s current expectations or forecasts of future
events. Forward-looking statements include statements about the
Company’s expectations, beliefs, plans, objectives, intentions,
assumptions and other statements that are not historical facts or
that are not present facts or conditions. Words or phrases such as
“anticipate,” “believe,” “continue,” “estimate,” “expect,”
“intend,” “may,” “ongoing,” “plan,” “potential,” “predict,”
“project,” “will” or similar words or phrases, or the negatives of
those words or phrases, may identify forward-looking statements,
but the absence of these words does not necessarily mean that a
statement is not forward-looking. Forward-looking statements are
subject to known and unknown risks and uncertainties and are based
on potentially inaccurate assumptions that could cause actual
results to differ materially from those expected or implied by the
forward-looking statements. The Company’s actual results could
differ materially from those anticipated in forward-looking
statements for many reasons specifically as described in the
Company’s filings with the Securities and Exchange Commission.
Accordingly, you should not unduly rely on these forward-looking
statements, which speak only as of the date of this communication.
Globus undertakes no obligation to publicly revise any
forward-looking statement to reflect circumstances or events after
the date of this communication or to reflect the occurrence of
unanticipated events. You should, however, review the factors and
risks Globus describes in the reports it will file from time to
time with the Securities and Exchange Commission after the date of
this communication.
For further information please contact: |
Globus Maritime
Limited |
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+30 210 960 8300 |
Athanasios
Feidakis |
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a.g.feidakis@globusmaritime.gr |
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Capital Link – New
York |
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+1 212 661 7566 |
Nicolas Bornozis |
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globus@capitallink.com |
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