ATHENS, GREECE--(Marketwired - Sep 29, 2016) - Seanergy Maritime Holdings Corp. (the "Company") (NASDAQ: SHIP) announced today
that it has entered into agreements with an unaffiliated third party for the purchase of two secondhand Capesize vessels, each
with a cargo-carrying capacity of approximately 180,000 deadweight tons ("DWT"). The vessels were both built in 2010 at Hyundai
Heavy Industries in South Korea.
The vessels are expected to be delivered between mid-November 2016 and early January 2017, subject to the satisfaction of
certain customary closing conditions. The Company expects to fund the gross purchase price of $20.75 million per vessel by
secured loans from financial institutions and financing arrangements with the Company's sponsor.
About Seanergy Maritime Holdings Corp.
Seanergy Maritime Holdings Corp. is an international provider of marine dry bulk shipping services through the ownership and
operation of dry bulk vessels. The Company is registered in the Marshall Islands with executive offices in Athens, Greece and an
office in Hong Kong.
The Company currently owns a modern fleet of eight dry bulk carriers, six Capesizes and two Supramaxes, with a combined
cargo-carrying capacity of approximately 1.1 million DWT and an average fleet age of about 7.8 years.
The Company's common stock trades on the NASDAQ Capital Market under the symbol "SHIP."
Forward-Looking Statements
This press release contains forward-looking statements (as defined in Section 27A of the Securities Act of 1933, as amended,
and Section 21E of the Securities Exchange Act of 1934, as amended) concerning future events and the Company's growth strategy
and measures to implement such strategy. Words such as "may," "should," "expects," "intends," "plans," "believes," "anticipates,"
"hopes," "estimates," and variations of such words and similar expressions are intended to identify forward-looking statements.
These statements involve known and unknown risks and are based upon a number of assumptions and estimates, which are inherently
subject to significant uncertainties and contingencies, many of which are beyond the control of the Company. Actual results may
differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to
differ materially include, but are not limited to, the Company's ability to continue as a going concern; the Company's operating
or financial results; the Company's liquidity, including its ability to pay amounts that it owes and obtain additional financing
in the future to fund capital expenditures, acquisitions and other general corporate activities; competitive factors in the
market in which the Company operates; shipping industry trends, including charter rates, vessel values and factors affecting
vessel supply and demand; the Company's failure to consummate future, pending or recent acquisitions and dispositions, including
as a result of some failure of a seller or a buyer; business strategy, areas of possible expansion or contraction, and expected
capital spending or operating expenses; risks associated with operations outside the United States; and other factors listed from
time to time in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"), including its most recent
annual report on Form 20-F. The Company's filings can be obtained free of charge on the SEC's website at www.sec.gov. The Company expressly disclaims any obligations or undertaking to release publicly any
updates or revisions to any forward-looking statements contained herein to reflect any change in the Company's expectations with
respect thereto or any change in events, conditions or circumstances on which any statement is based.