Paragon Shipping Announces Waiver Of Debt

Paragon-Shipping

Paragon Shipping Inc. (OTCQB: PRGNF) (the “Company”) announced today that it has entered into an agreement with the last of its credit lenders, Unicredit Bank AG, pursuant to which, the Company was discharged from all of its obligations under the loan agreement, including a waiver of the outstanding debt amount of $8,317,750, in exchange for the payment of interest in the amount of $50,000.

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