Pilgrim Petroleum Corp. (PGPM)

[PGPM_COO]

Bad News!

Regrettably, today at approximately 4PM CST Pilgrim Petroleum Corporation's stock (PGPM) was placed in Caveat Emptor status by OTCMarkets due to high trading volume.

Pilgrim Petroleum Corporation is in the process of appealing this decision with OTCMarkets as well as moving forward with the necessary steps to have the company moved back to limited status.

Please be aware that Pilgrim Petroleum Corporation feels that this action by OTCMarkets was unjustified and that we are aware of the importance of getting this situation corrected in a timely manner.

Thank you.

Matt O’Bryant
President
Pilgrim Petroleum Corporation