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Athens, Greece, June 8, 2015 Paragon Shipping Inc. (NASDAQ: PRGN) (“Paragon Shipping” or the “Company”), a global shipping transportation company specializing in drybulk cargoes, announced today its results for the first quarter ended March 31, 2015. First Quarter 2015 Highlights & Recent Developments • Net revenue, net of voyage expenses, of $6.8 million in the first quarter of 2015. • Reduced average daily adjusted total vessel operating expenses by 23.5% year-over-year. • Adjusted net loss of $8.8 million, or $0.35 per common share, in the first quarter of 2015. Full Earnings Release 
Paragon Shipping Inc. press release 
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