Pilgrim Petroleum Corp. (PGPM)

[Chartmaster]

PGPM Explains and Reassures Shareholders:

After the SEC suspension PGPM has responded 6/30/17:

"The Company has reached out to the SEC and cooperating to the fullest extent in this matter. We feel compelled to communicate with our shareholders in this instance so they are made aware of the circumstances surrounding the suspension. The Company would like to reiterate that, neither the Company, its officers, directors and, its controlling shareholders have directly or indirectly, authorized or been involved in any way, or the making of any false or misleading statements about the Company."

Here's the link:

http://www.otcmarkets.com/stock/PGPM/news/Pilgrim-Petroleum-Corporation-Announce-Update-to-Shareholders-?id=163664&b=y

And then July 7, 2017 Pilgrim Petroleum Corporation Announce Update to Shareholders:

Pilgrim will focus its financial resources on the assets on-hand in the "Re-work" category. These assets include existing wells in inventory with various levels of work required to bring to production. We will have some exceptional opportunities to apply our M&A and operational expertise to acquire and operate quality assets at low prices. As we have done in the past, our focus on reserve value creation and asset divestiture to other entities who will pay premiums for reliable and optimized production, such as Master Limited Partnerships (MLPs). Simultaneous to the re-work endeavor, we are in process to complete our audit financials and pursuing an S-1 Registration with the Securities and Exchange Commission.

Also the CEO went on and answered questions:

-What was the main reason the SEC suspended PGPM? And after the suspension what's the plan of the company?

A: the main reasons have been indicated by the SEC, we are responding accordantly each one of the inquiries. The red flag was the spike on the stock in a short period of time, the volume traded, and other fundamentals out of place.

-Going forward, where do you see the Company in 6 months based on the plans stated in previous shareholder communications for 2017?

A: we believe that within 6 months we will be working towards closing the year with positive EBITA.

-The SEC specifically mentions the capital raise (FORM D). Was 3 million ever raised? Does the company currently have those funds available?

A: The commitments for the capital are in place, the due diligence still in process, but primarily subject to the audit financials completion.

- What, if any, contact do you currently have with the SEC? Many here are claiming that the suspension proves that fraud has already occurred.

A: Stock Markets induces investors to make purchase or sale decisions on the basis of information, every one of our disclosures has been accurate, disclosed as required by the OTC Markets Group. The stock spike on the price in a very short time, the volumes contribute to a big suspicion of a potential stock manipulation.

- The share adjustment from roughly 1.1 billion to 2 billion was a huge red flag for many. It seems to be that there were common shares that Pinedo owned from back in 2012 and he sold them over the past few months.

A: We can assure you that based on the certify shareholders list provided by the TA, that Mr. Pinedo or related companies do not have common stock since 2005, he decided a long time ago to only keep preferred voting's shares (non-tradeable) for control of the company.

- Suspension by the SEC has basically been a death sentence for OTC stocks. Have you hired a securities attorney to help with the SEC? Is the auditor able to help the company get back on an exchange that uses Market Makers?

A: yes

- What verifiable assets does the company currently have? I appreciate your time and still am hoping for the best here.

A: The Verification of Financials and assets will be presented at once when the audit is completed, we are not going to make any representations other than a compilation of our financials already disclosed at this time; the audit will provide an independent opinion to the shareholders on the going concerns and fairness of the financial statements this will include adjustments on the balance sheet, non-financial disclosures, changes on a company's assets, liabilities opinions, etc.

Here's the link:

https://www.prlog.org/12650884-pilgrim-petroleum-corporation-announce-update-to-shareholders.html