Pyxis Tankers Announces Filing of Form 20-F for the Year Ended December 31, 2024
Maroussi, Greece – March 28, 2025 – Pyxis Tankers Inc. (NASDAQ Cap Mkts: PXS), an international shipping company, announced today that its Annual Report on Form 20-F for the year ended December 31, 2024 has been filed with the Securities and Exchange Commission and can be accessed on our website, www.pyxistankers.com. Alternatively, shareholders may also request a hard copy of the annual report containing our audited financial statements, free of charge, by contacting us using the contact details provided at the end of this press release.
About Pyxis Tankers Inc.
The Company currently owns a modern fleet of six mid-sized eco-vessels, which are engaged in the seaborne transportation of a broad range of refined petroleum products and dry-bulk commodities and consists of three MR product tankers, one Kamsarmax bulk carrier and controlling interests in two dry-bulk joint ventures of a sister-ship Kamsarmax and an Ultramax. The Company is positioned to opportunistically expand and maximize its fleet of eco-efficient vessels due to significant capital resources, competitive cost structure, strong customer relationships and an experienced management team whose interests are aligned with those of its shareholders. For more information, visit: http://www.pyxistankers.com. The information on or accessible through the Company's website is not incorporated into and does not form a part of this release.
Forward Looking Statements
This press release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995 in order to encourage companies to provide prospective information about their business. These statements include statements about our plans, strategies, goals financial performance, prospects or future events or performance and involve known and unknown risks that are difficult to predict. As a result, our actual results, performance or achievements may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as 'may,' 'could,' 'expects,' 'seeks,' 'predict,' 'schedule,' 'projects,' 'intends,' 'plans,' 'anticipates,' 'believes,' 'estimates,' 'targets,' 'continue,' 'contemplate,' 'possible,' 'likely,' 'might,' 'will, 'should,' 'would,' 'potential,' and variations of these terms and similar expressions, or the negative of these terms or similar expressions. All statements that are not statements of either historical or current facts, including among other things, our expected financial performance, expectations or objectives regarding future and market charter rate expectations and, in particular, the effects of the war in the Ukraine and the Red Sea conflict, on our financial condition and operations as well as the nature of the product tanker and dry-bulk industries, in general, are forward-looking statements. Such forward-looking statements are necessarily based upon estimates and assumptions. Although the Company believes 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 the Company's control, the Company cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. The Company's actual results may differ, possibly materially, from those anticipated in these forward-looking statements as a result of certain factors, including changes in the Company's financial resources and operational capabilities and as a result of certain other factors listed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The Company is reliant on certain independent and affiliated managers for its operations, including most recently an affiliated private company, Konkar Shipping Agencies, S.A., for the management of its dry-bulk vessels. For more information about risks and uncertainties associated with our business, please refer to our filings with the U.S. Securities and Exchange Commission, including without limitation, under the caption 'Risk Factors' in our Annual Report on Form 20-F for the fiscal year ended December 31, 2024. We caution you not to place undue reliance on any forward-looking statements, which are made as of the date of this press release. We undertake no obligation to update publicly any information in this press release, including forward-looking statements, to reflect actual results, new information or future events, changes in assumptions or changes in other factors affecting forward-looking statements, except to the extent required by applicable laws.
Company
Pyxis Tankers Inc.
59 K. Karamanli Street
Company Contact
Henry Williams
Chief Financial Officer
Tel: +30 (210) 638 0200 / +1 (516) 455-0106
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
18 minutes ago
- Yahoo
Western Exploration Announces Closing of Life Offering of Units for Gross Proceeds of C$5.0 Million
Reno, Nevada--(Newsfile Corp. - June 6, 2025) - Western Exploration Inc. (TSXV: WEX) (OTCQX: WEXPF) (the "Company" or "Western Exploration") is pleased to announce that it has closed its previously announced "best efforts" private placement (the "Offering") for aggregate gross proceeds of C$5,005,000, which includes the full exercise of the agent's option. Under the Offering, the Company sold 7,150,000 units (the "Units") at a price of C$0.70 per Unit. Each Unit consists of one variable voting share of the Company and one-half of one variable voting share purchase warrant of the Company (each whole variable voting share purchase warrant, a " Warrant"). Each Warrant entitles the holder thereof to acquire one variable voting share of the Company (each, a "Warrant Share") at a price of C$0.95 per Warrant Share at any time until June 6, 2028, subject to adjustment in certain circumstances. The Offering was completed pursuant to the terms of an agency agreement dated June 6, 2025 between the Company and Red Cloud Securities Inc. (the "Agent"), as sole agent and bookrunner. The Company intends to use the net proceeds raised under the Offering for exploration and advancement of the Company's Aura Project located in Nevada, as well as for general corporate purposes and working capital. Darcy Marud, President and CEO of Western Exploration commented, "This financing enables us to take the next steps at Gravel Creek for resource expansion with an extensive drill program at Wood Gulch. This is the next step in growing Gravel Creek with additional high grade exploration targets." In consideration for the services provided by the Agent in connection with the Offering, the Company paid cash commission and advisory fees totaling C$280,325.01 and issued an aggregate of 400,464 non-transferable broker warrants (the "Broker Warrants") to the Agent. Each Broker Warrant is exercisable to acquire one variable voting share of the Company (each, a "Broker Warrant Share") at a price of C$0.70 per Broker Warrant Share at any time until June 6, 2028, subject to adjustment in certain circumstances. In addition, in consideration for the provision of certain finder services to the Company in connection with the Offering, the Company also paid certain parties an aggregate cash finder's fee of C$28,738.50 and issued an aggregate 41,055 finder's warrants (the "Finder's Warrants"). The Finder's Warrants were issued on substantially the same terms as the Broker Warrants. All Units distributed in connection with the Offering were issued and sold pursuant to the "Listed Issuer Financing Exemption" available under Part 5A of National Instrument 45-106 - Prospectus Exemptions (the "LIFE Exemption"), as amended by Coordinated Blanket Order 45-935 - Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. A copy of the offering document under the LIFE Exemption dated May 21, 2025 (the "Offering Document") is available electronically on the Company's website and on SEDAR+ ( under the Company's issuer profile. Pursuant to the LIFE Exemption, all Units issued under the Offering are not subject to resale restrictions in Canada in accordance with applicable Canadian securities laws and the policies of the TSX Venture Exchange (the "Exchange"). All other securities not issued pursuant to the LIFE Exemption, namely, the Broker Warrants and Finders Warrants, are subject to a statutory hold period in accordance with applicable Canadian securities laws, expiring on October 7, 2025. The Offering remains subject to the final acceptance of the Exchange. MI 61-101 Disclosure Certain "insiders" of the Company have subscribed for an aggregate of 307,900 Units for aggregate gross proceeds of C$215,530, comprising (i) Darcy Marud, Chief Executive Officer, President and director of the Company, through the Marud-Rivas Trust, as to 179,400 Units for gross proceeds of C$125,580, (ii) Curtis Turner, Chief Financial Officer of the Company as to 28,500 Units for gross proceeds of C$19,950, and (iii) Gerard Munera, director of the Company, through Synergex Group LLC, as to 100,000 Units for gross proceeds of C$70,000. Each subscription by an "insider" of the Company is considered to be a "related party transaction" of the Company for purposes of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101") and Section 5.9 - Protection of Minority Securityholders in Special Transactions of the Corporate Finance Manual of the TSX Venture Exchange. In completing the Offering, the Company is relying upon exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in Section 5.4 of MI 61-101 in reliance on Sections 5.5(a) and (b) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization and no securities of the Company are listed or quoted for trading on prescribed stock exchanges or stock markets. Additionally, the Company is exempt from minority shareholder approval requirement in Section 5.6 of MI 61-101 in reliance on, inter alia, Section 5.7(a) as the fair market value of the transaction, insofar as it involves interested parties, is not more than the 25% of the Company's market capitalization. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available. This news release shall not constitute an offer to sell or the solicitation of an offer to buy in the United States or to, or for the account or benefit of, persons in the United States or U.S. Persons nor shall there by any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. About Western Exploration Western Exploration is focused on advancing the 100% owned Aura Project, located approximately 120 kilometers/75 miles north of the city of Elko, Nevada. The Aura Project includes three unique gold and silver deposits: Doby George, Gravel Creek, and Wood Gulch. Western Exploration is comprised of an experienced team of precious metals experts that aim to lead the company to becoming North America's premiere gold and silver development company. Additional information regarding Western Exploration can be found on Western Exploration's corporate website ( and on SEDAR+ ( under Western Exploration's issuer profile. For further information, please contact: Darcy MarudChief Executive OfficerTelephone: (775) 329-8119Email: dmarud@ Nichole CowlesInvestor RelationsTelephone: (775) 240-4172Email: nicholecowles@ Cautionary Note Regarding Forward-Looking Information Certain statements contained in this news release may be deemed "forward‐looking statements" within the meaning of applicable Canadian and U.S. securities laws. These forward‐looking statements, by their nature, require Western Exploration to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward‐looking statements. Forward‐looking statements are not guarantees of performance. Words such as "may", "will", "would", "could", "expect", "believe", "plan", "anticipate", "intend", "estimate", "continue", or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward‐looking statements. This forward‐looking information is based on reasonable assumptions and estimates of management of the Company at the time such assumptions and estimates were made, and involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievement expressed or implied by such forward‐looking information. Such factors include, among others, risks relating to the receipt of final approval of the Offering by the Exchange and the intended use of the net proceeds of the Offering. Although the forward‐looking information contained in this news release is based upon what management believes, or believed at the time, to be reasonable assumptions, Western Exploration cannot assure shareholders and prospective purchasers of securities of the Company that actual results will be consistent with such forward‐looking information, as there may be other factors that cause results not to be as anticipated, estimated or intended, and neither Western Exploration nor any other person assumes responsibility for the accuracy and completeness of any such forward‐looking information. Further, Western Exploration does not undertake, and assumes no obligation, to update or revise any such forward-looking statements or forward‐looking information contained herein to reflect new events or circumstances, except as may be required by law. For additional information with respect to these and other factors and assumptions underlying the forward‐looking statements and forward-looking information made in this news release concerning Western Exploration, please refer to the continuous disclosure record of Western Exploration (including the Offering Document) on SEDAR+ ( under Western Exploration's issuer profile. The forward-looking statements set forth herein concerning Western Exploration reflect management's expectations as at the date of this news release and are subject to change after such date. Western Exploration disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
26 minutes ago
- Yahoo
The CRE Finance Council Unveils Its 2025 Class of '20 Under 40'
CREFC celebrates young professionals from lenders, investors, borrowers, legal and accounting firms NEW YORK, June 6, 2025 /PRNewswire/ -- The CRE Finance Council (CREFC), the trade association that exclusively represents the $6 trillion commercial and multifamily real estate finance industry, unveiled its 2025 class of accomplished '20 Under 40' professionals. The 2025 class will be introduced at CREFC's Annual Conference in New York City. This year's '20 Under 40' recipients are reshaping commercial real estate (CRE) finance with fresh ideas and innovation. They work with lenders, investors, borrowers, and legal and accounting firms. These young professionals focus on a wide range of commercial properties and support servicers, borrowers, and lenders. They originate loans, structure CMBS transactions, and are involved with loan workouts. Also, this class of '20 Under 40' mentors other young professionals and devotes time to community charities. "We want to congratulate and welcome members of the 2025 class of '20 Under 40', who will become tomorrow's CRE finance leaders. As professionals, they have come of age in a market that has been challenged by high benchmark and mortgage rates and a wide range of economic uncertainty," said Lisa Pendergast, President and CEO of CREFC. "We salute this class of talented professionals, many of whom are actively involved with CREFC committees and help shape the development of novel and engaging CREFC programming. Their creative energy, determination, and innovations help ensure the CRE finance industry continues to evolve and meet a variety of challenges as we move forward." CREFC's annual '20 Under 40' awards are part of an ongoing effort to recognize the next generation of leaders in CRE finance. CREFC's Young Professionals Network offers career development, networking, and educational opportunities for this group of CRE finance professionals. DANIEL BLAKELY ALLISON M. BORTNER Partner Duane Morris LLP PATRICK BOYLE Vice President, Boston Capital Markets Colliers ANTHONY CANDELA Senior Vice President Slate Asset Management THOMAS F. DUGAN Partner Eversheds Sutherland EVAN GIBSON Executive Vice President, Capital Markets Merchants Capital BRANDON HEIM Principal, Real Estate Ares Management RACHEL HUNTER-GOLDMAN Managing Director KKR NITYA KUMAR GOYAL Partner Dechert LLP MICHAEL IANNO Senior Director, Capital Markets Walker & Dunlop EUNI JO Associate Cadwalader, Wickersham & Taft LLP KENNETH KASMIR Senior Manager Deloitte & Touche LLP SOPHIA (XUEFEI) OUYANG Director KPMG LLP CHLOE PARK Assistant Vice President, CMBS & Real Estate Finance Group Citibank CLAYTON ROSS Director JLL Capital Markets JEFFREY SCHWARTZ Director, Real Estate Sector Coverage ING PRERNA SONI Partner Gibson, Dunn & Crutcher STEPHANIE STEIN Partner McDermott Will & Emery LLP MADELINE TRACY Director, U.S. CRE Finance Group Barclays MICHAEL WATSON Director SVN To learn more about this year's '20 Under 40' recipients, click here. About CREFCThe CRE Finance Council (CREFC) is the trade association for the nearly $6 trillion commercial real estate finance industry with a membership that includes more than 400 companies and 19,000 individuals. Member firms include balance sheet and securitized lenders, loan and bond investors, private equity firms, servicers, rating agencies, and borrowers. For 30 years, CREFC has promoted liquidity, transparency, and efficiency in the commercial real estate finance markets, and acted as a legislative and regulatory advocate for the industry, playing a vital role in setting market standards and best practices, and providing education for market participants. View original content to download multimedia: SOURCE CRE Finance Council
The Hill
an hour ago
- The Hill
US markets need accountability — it would be a mistake to dismantle Sarbanes-Oxley
Recently, the House Financial Services Committee approved a proposal to dissolve the Public Company Accounting Oversight Board, which supervises audits of publicly listed companies, and transfer its responsibilities to the Securities and Exchange Commission. In times of economic uncertainty, the strength and integrity of our financial systems become even more crucial. Regardless of the outcome with the board, it would be a mistake to eliminate the broader Sarbanes-Oxley framework that has served as a foundation for market integrity since 2002. Dismantling these guardrails would increase the risk of financial reporting fraud that could trigger a crisis of confidence among investors and increased market volatility, putting trillions of dollars in market value and retirement savings at risk. The bipartisan Sarbanes-Oxley Act was enacted in 2002 in the wake of a number of accounting scandals, most prominently Enron and WorldCom, which wiped out billions in market value and retirement savings. It passed with overwhelming support in both houses, reflecting the urgency lawmakers felt to address the crisis threatening our capital markets. At its core, Sarbanes-Oxley established crucial guardrails. Section 404 requires companies to maintain robust internal controls over financial reporting, while Section 302 mandates that CEOs and CFOs personally certify the accuracy of financial statements. These provisions ensure that those who lead corporations are accountable for the integrity of their financial disclosures. Sarbanes-Oxley also established independent oversight of auditors responsible for verifying financial statements. This provided essential third-party assurance that investors could trust what companies report — a crucial element in rebuilding market confidence. Critics of Sarbanes-Oxley complain that compliance costs are a burden on businesses. While initial implementation was indeed expensive, companies have since learned to leverage technology and risk-based approaches to streamline the process. Research from firms like Protiviti and AuditBoard consistently shows that these costs have decreased over time as processes have become more efficient. More importantly, we must weigh these costs against the benefits. The data is compelling: financial restatements, which initially surged after Sarbanes-Oxley implementation as companies 'cleaned up' their books, have shown a sustained downward trend. According to the Center for Audit Quality, restatements rose sharply right after the law was enacted, to nearly 1,800 in 2006, but have generally trended downward overall since — with a substantial decline of 60 percent between 2006 and 2009. Restatements dropped 50 percent, from 858 restatements in 2013 to just 402 in 2022, XBRL reported. America's capital markets remain the envy of the world precisely because investors trust them. Foreign companies willingly subject themselves to our rigorous standards because the resulting investor confidence translates into better valuations and capital access. This trust premium has contributed to trillions in market value growth over the past two decades. As this regulatory reorganization is considered, we should ensure that any structural changes don't inadvertently weaken the broader framework of Sarbanes-Oxley that delivers accountability, transparency and investor protection. Instead, continued refinement of implementation and embracing technological innovations can make compliance more efficient without sacrificing effectiveness. The goal is evolution, not revolution. Twenty-three years after its passage, Sarbanes-Oxley has become an integral part of America's financial architecture, contributing to a period of remarkable growth and stability in our capital markets. The political right and left came together to enact this landmark legislation because they recognized a fundamental truth: without trustworthy financial reporting, markets cannot function effectively. Today, that core principle remains unchanged. While organizational structures may evolve, preserving the integrity of Sarbanes-Oxley's core principles isn't just good for investors — it's essential for America's continued economic leadership. Richard Chambers worked in auditing in the U.S. Government Accountability Office. He is currently CEO of Richard F. Chambers and Associates and senior adviser at AuditBoard.
