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Majuro, Marshall Islands - June 24, 2021 Pioneer Marine Inc. and its subsidiaries (OSLO-OTC: PNRM) ("Pioneer Marine," or the "Company"). The Company announces today that a special meeting of the shareholders was duly held on June 23, 2021, 11:00 AM Athens time, at 130, Vouliagmenis Avenue and 1, Themistokleous Street, Glyfada, Greece. The following resolutions were passed: • The sale or disposition (the “Sale”) of all, or substantially all, of the assets of the Company, consisting of the vessels or their respective vessel-owning subsidiaries, at an agreed aggregate minimum price and based on terms determined by the Board of Directors of the Company. • Following the Sale, the dissolution of the Company, subject to the determination of the Board. About Pioneer Marine Inc. Pioneer Marine is a leading ship owner and global drybulk handysize transportation service provider. Pioneer Marine currently owns eight Handysize drybulk carriers. The Company’s common stock trades on the Norwegian Over-The-Counter market under the symbol "PNRM" Pioneer Marine Inc., press release 
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