Majuro, Marshall Islands, July 3rd,2018 – Pioneer Marine Inc. (“Pioneer Marine” or the “Company”) (N-OTC: PNRM) hereby launches an offer (the “Offer”) to all shareholders in the Company to buy back up to approximately 6 million shares in Pioneer Marine. The offer will be carried out as an auction process managed by Pareto Securities AS (the “Bookrunner”). Shareholders in Pioneer Marine are asked to identify the number of shares they would like to tender and at what price. Per July 3rd,2018, Pioneer Marine owns 2.98 million common shares, constituting approximately 9.8 per cent oftheCompany’s commonshares and votes.
Pioneer Marine INC. commences open market tender offer