Reference is made to the stock exchange notice dated March 14, 2017 where Golden Ocean Group Limited (NASDAQ and
OSE: GOGL) ("Golden Ocean" or the "Company") announced that it has entered into agreements to acquire 16 modern dry
bulk vessels in an all-share transaction where the Company will issue in aggregate 17.8 million consideration shares.
The Company is pleased to announce that it has taken delivery of additional two vessels, Q Myrtalia and Q Shea
(to be renamed Golden Myrtalia and Golden Shea). Golden Ocean has issued 1.95 million consideration shares to Quintana Shipping
Ltd. and associated companies in exchange for the two vessels. Following this transaction, the Company's issued share capital is
USD 6,051,149.60 divided into 121,022,992 issued shares, each with a nominal value of USD 0.05.
May 15, 2017
Hamilton, Bermuda
The Board of Directors
Golden Ocean Group Ltd.
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Forward-Looking Statements
Matters discussed in this press release may constitute forward-looking statements. The Private Securities
Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements, which include statements concerning
plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are
other than statements of historical facts. Words such as "believe", "anticipate", "intends", "estimate", "forecast", "project",
"plan", "potential", "may", "should", "expect", "pending" and similar expressions identify forward-looking statements.
The forward-looking statements in this press release are based upon various assumptions. 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. The information set forth herein speaks only as of the
date hereof, and we disclaim any intention or obligation to update any forward-looking statements as a result of developments
occurring after the date of this communication.
In addition to these important factors and matters discussed elsewhere herein, important factors that, in our
view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength
of world economies, fluctuations in currencies and interest rates, general market conditions, including fluctuations in charter
hire rates and vessel values, changes in demand in the dry bulk market, changes in our operating expenses, including bunker prices,
drydocking and insurance costs, the market for our vessels, availability of financing and refinancing, changes in
governmental rules and regulations or actions taken by regulatory authorities, potential liability from pending or future
litigation, general domestic and international political conditions, potential disruption of shipping routes due to accidents,
political events or acts by terrorists, and other important factors described from time to time in the reports filed by the Company
with the Securities and Exchange Commission.
This information is subject to the disclosure requirements of section 5-12 of the Norwegian Securities Trading
Act.
