ATHENS,
GREECE, January 11, 2023 – OceanPal Inc. (NASDAQ: OP) (the “Company”), a
global shipping company specializing in the ownership of vessels, announced that
on January 9, 2023, the Company received notification from the Nasdaq Listing
Qualifications department of The Nasdaq Stock Market confirming it has cured
the minimum bid price deficiency regaining compliance with Listing Rule 5550(a)(2)
and this matter is now closed.
About
the Company
OceanPal
Inc. is a global provider of shipping transportation services through its
ownership of vessels. The Company’s vessels currently transport a range of dry
bulk cargoes, including such commodities as iron ore, coal, grain and other
materials along worldwide shipping routes and it is expected that the Company’s
vessels will be primarily employed on short term time and voyage charters
following the completion of their current employments.
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.
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, Company management’s examination of historical
operating trends, data contained in the Company’s records and other data
available from third parties. Although the Company believes that these
assumptions were reasonable when made, because these assumptions are inherently
subject to significant uncertainties and contingencies that are difficult or
impossible to predict and are beyond the Company’s control, the Company cannot
assure you that it will achieve or accomplish these expectations, beliefs or
projections.
In
addition to these important factors, other important factors that, in the
Company’s view, could cause actual results to differ materially from those
discussed in the forward-looking statements include the severity, magnitude and
duration of the COVID-19 pandemic, including impacts of the pandemic and of
businesses’ and governments’ responses to the pandemic on our operations,
personnel, and on the demand for seaborne transportation of bulk products; 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 the Company’s operating expenses,
including bunker prices, drydocking and insurance costs, the market for the
Company’s vessels, availability of financing and refinancing, 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, including risks associated with the
continuing conflict between Russia and Ukraine and related sanctions, potential
disruption of shipping routes due to accidents or political events, vessel
breakdowns and instances of off-hires and other factors. Please see the
Company’s filings with the U.S. Securities and Exchange Commission for a more
complete discussion of these and other risks and uncertainties. The Company
undertakes no obligation to revise or update any forward-looking statement, or
to make any other forward-looking statements, whether as a result of new
information, future events or otherwise.
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