Petrogress Inc. (PGAS)

[Carnivool]

"Mr. Traios is currently the owner of approximately 81.5% of the Company’s shares, so that this Adoption has little impact on its current governing initiatives; he approved the Adoption, and has the authority to approve similar matters. On an on-going basis, while Mr. Traios has no current plans to dispose of any portion of his shares, the Adoption will permit the Company to broaden its shareholder base without suffering current shareholders to dilution and preserve its ability to nimbly address corporate opportunities."