User:Glbsdiff/sandbox

ATHENS, GREECE--(Marketwired - Feb 9, 2017) - Globus Maritime Limited ("Globus", or the "Company"), ( NASDAQ : GLBS ), a dry bulk shipping company, announced today that on February 8, 2017 it signed a share and warrant purchase agreement providing for the issuance, for gross proceeds of $5 million, of an aggregate of 5 million shares of common stock, par value $0.004 per share and warrants to purchase 25 million shares of common stock at a price of $1.60 per share, in a private placement to a group of private investors. The Company intends to use the proceeds from the sale of common shares and warrants for general corporate purposes and working capital including repayment of debt. The private placement closed today.

In connection with the private placement, on February 8, 2017 the Company terminated an aggregate of $20 million of the outstanding principal and interest of two loans with the relevant lenders in consideration of issuing 20 million shares and warrants exercisable for 7,380,017 common shares at a price of $1.60 per share to nominees of the lenders. The Company expects approximately $1,724,835 to remain outstanding in the aggregate on both loans. In each instance, the outstanding amounts will continue to accrue under the respective loan agreements. Both lenders are related to the Company through common control.