NASSAU, Bahamas, Jan. 04, 2017 (GLOBE NEWSWIRE) -- Ultrapetrol (Bahamas) Limited (OTCQB:ULTR)
(“Ultrapetrol” or the “Company”) today announced an extension of both (a) the deadline by which the Company must receive votes from
certain of its creditors on its previously announced proposed prepackaged plan of reorganization under chapter 11 of the U.S.
Bankruptcy Code and (b) the deadline by which the Company must receive consents on a resolution of its shareholders to approve a
substantial sale of its assets, each of which had been set to expire at 4:00 p.m. New York City time, on January 4, 2017. The vote
solicitation period and the time by which consents on the shareholder resolution must be received have been extended to 4:00 p.m.
New York City time, on January 26, 2017 (unless further extended by the Company). Any further extensions will similarly be noticed
by press release. All other terms and conditions of the consent solicitation remain unchanged. Holders who have already properly
delivered their consents do not need to deliver new consents or take any other action in response to this extension.
Prime Clerk LLC is acting as the Voting Agent for the solicitation of votes on the prepackaged plan. Completed
shareholder resolutions should be sent to Ultrapetrol (Bahamas) Limited, c/o H&J Corporate Services Ltd., P.O. Box SS-19084,
Ocean Centre, Montagu Foreshore, East Bay Street, Nassau, Bahamas.
Questions and requests for assistance regarding the completion and delivery of the Ballot or for additional
copies of the Solicitation Documents may be directed to the Voting Agent by email at ultrapetrolballots@primeclerk.com or phone at 844-205-4334 (Domestic toll-free) or 917-606-6438
(International toll).
Advisory: This press release is for informational purposes only and is not being made in any jurisdiction in
which the making of this announcement would violate the laws of such jurisdiction, nor is it an offer to purchase or sell, a
solicitation of an offer to purchase or sell, or a solicitation of consents with respect to any securities. The solicitation is
being made solely pursuant to a disclosure statement dated November 30, 2016, and the related ballot.
About Ultrapetrol
Ultrapetrol is an industrial transportation company serving the marine transportation needs of its clients in the markets on
which it focuses. It serves the shipping markets for containers, grain and soy bean products, forest products, minerals, crude oil,
petroleum, and refined petroleum products, as well as the offshore oil platform supply market with its extensive and diverse fleet
of vessels. These include river barges and pushboats, platform supply vessels, tankers and two container feeder vessels. More
information on Ultrapetrol can be found at www.ultrapetrol.net.
Forward-Looking Language
The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon
further assumptions, including without limitation, our management's examination of historical operating trends, data contained in
our records and other data available from third parties. Although we believe that these assumptions were reasonable when made,
because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible
to predict and are beyond our control, we cannot assure you that we will achieve or accomplish these expectations, beliefs or
projections.
In addition to these important factors, other important factors that, in our view, could cause actual results to
differ materially from those discussed in the forward-looking statements include future operating or financial results; pending or
recent acquisitions, business strategy and expected capital spending or operating expenses, including dry docking and insurance
costs; general market conditions and trends, including charter rates, vessel values, and factors affecting vessel supply and
demand; our ability to obtain additional financing; our financial condition and liquidity, including our ability to obtain
financing in the future to fund capital expenditures, acquisitions and other general corporate activities; our expectations about
the availability of vessels to purchase, the time that it may take to construct new vessels, or vessels' useful lives; our
dependence upon the abilities and efforts of our management team; changes in governmental rules and regulations or actions taken by
regulatory authorities; adverse weather conditions that can affect production of the goods we transport and navigability of the
river system; the highly competitive nature of the oceangoing transportation industry; the loss of one or more key customers;
fluctuations in foreign exchange rates and devaluations; potential liability from future litigation; and other factors. Please see
our filings with the Securities and Exchange Commission for a more complete discussion of these and other risks and
uncertainties.
ULTR-G
