PANGAEA LOGISTICS SOLUTIONS LTD. (NASDAQ:PANL) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

(c) (1) The Company has appointed Mark L. Filanowski as its first
Chief Operating Officer, effective January 9, 2017.

(c)(2) Mr. Filanowski started his career at Ernst Young from 1976
to 1984. Subsequently, Mr. Filanowski spent 4 years at Armtek
Corporation, where he served as Vice President and Controller.
From 1989 to 2002, he served as Chief Financial Officer and
Senior Vice President at Marine Transport Corporation, which he
helped take private from NASDAQ. Mr. Filanowski and a partner
formed Intrepid Shipping LLC in 2002. Mr. Filanowski is a
Director of ETRE REIT, LLC and is a member of the American Bureau
of Shipping. Previously, he served as the Chairman of the Board
at Arvak and at Shoreline Mutual (Bermuda) Ltd., an insurance
company. Mr. Filanowski was formerly a Certified Public
Accountant. He earned a BS from University of Connecticut and an
MBA from New York University.

(c)(3) Consistent with Company policy, Mr. Filanowski is not
under contract in his position as Chief Operating Officer. Mr.
Filanowski will no longer be an independent member of the Board
of Directors, and accordingly, will no longer be eligible to
participate in the PANGAEA LOGISTICS SOLUTIONS LTD. 2014 SHARE
INCENTIVE PLAN (as amended by the Board of Directors on May 9,
2016).

The press release contains summary information regarding the
Company. Statements in this Current Report on Form 8-K, may
contain certain statements about the Company and its consolidated
subsidiaries that do not directly or exclusively relate to
historical facts. The statements are forward-looking statements
within the meaning of the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements are
necessarily estimates reflecting the best judgment and current
expectations, plans, assumptions and beliefs about future events
(in each case subject to change) of the Companys senior
management and management of its subsidiaries and involve a
number of risks, uncertainties and other factors, some of which
may be beyond the Companys control that could cause actual
results to differ materially from those expressed or implied in
such forward-looking statements. Without limitation, any
statements preceded or followed by or that include the words
targets, plans, believes, expects, intends, will, likely, may,
anticipates, estimates, projects, should, would, expect,
positioned, strategy, future, potential, plan, forecast, or
words, phrases or terms of similar substance or the negative
thereof, are forward-looking statements. Factors that could cause
actual results to differ materially from those expressed or
implied by the forward-looking statements are discussed under the
heading Risk Factors and Forward-Looking Statements in the
companys most recent annual report on Form 10-K filed with the
Securities and Exchange Commission (SEC), as they may be updated
in any future reports filed with the SEC. If one or more of these
factors materialize, or if any underlying assumptions prove
incorrect, the Companys actual results, performance, or
achievements may vary materially from any future results,
performance or achievements expressed or implied by these
forward-looking statements. Forward-looking statements included
herein are made as of the date hereof, and the Company undertakes
no obligation to update publicly such statements to reflect
subsequent events or circumstances. The information in this
Current Report, including the exhibit attached hereto, is being
furnished and shall not be deemed filed for the purposes of
Section 18 of the Securities Exchange Act of 1934 or otherwise
subject to the liabilities of that Section. The information in
this Current Report shall not be incorporated by reference into
any registration statement to the Securities Act of 1933.