Denouement

The Aries Maritime Transport Limited (“Aries”) story begins anew. Last week, Aries entered into a securities purchase agreement with Grandunion Inc., a company controlled by Michail Zolotas and Nicholas Fistes, pursuant to which the company has agreed to acquire three capsize bulkcarriers, with an approximate net asset value of $36 million in exchange for 18,977,778 shares. A description of the vessels being acquired is shown herein.

In an ancillary transaction, Rocket Marine Inc., a company controlled by Mons Bolin and Captain Gabriel Petridis, the current principals of Aries, agreed to enter into a voting agreement with Grandunion in exchange

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