Pyxis Tankers Announces Receipt of NASDAQ Advisory

Maroussi, Greece, June 18, 2021 – Pyxis Tankers Inc. (NASDAQ: PXS) (the “Company”), an international shipping company focused on the petroleum products industry, today announced that it received notification on June 16, 2021 Letter from the Nasdaq Stock Market (“Nasdaq”), indicating that, for a period of 30 consecutive business days, the common shares of the Company closed below the minimum bid price of $ 1.00 per share, as required for continued Nasdaq listing (the “Offer Price Requirement”). The Company has until December 13, 2021 (the “Compliance Period”) to re-comply with the minimum bid price requirement.

The Company can remedy this deficiency if the closing bid price of its common shares is $ 1.00 per share or more for at least ten consecutive business days during the compliance period. The Company intends to re-comply with the minimum bid price requirement during the compliance period and is considering all available options, including a reverse stock split. During this time, the common shares of the Company will continue to be listed and traded on the Nasdaq Capital Market, and this notice will have no effect on the business of the Company. If the Company does not restore compliance during the Compliance Period, it may be eligible for an additional 180 calendar day compliance period. If Nasdaq staff conclude that the Company will not be able to remedy the deficiency or if the Company is not otherwise eligible, the common shares of the Company will be subject to delisting by the Nasdaq.

About Pyxis Tankers Inc.

Pyxis Tankers Inc. has a modern fleet of five tankers engaged in the marine transportation of refined petroleum products and other bulk liquids. We are focused on growing our fleet of mid-range tankers, which offer operational flexibility and increased revenue potential due to their “green” features and modifications. Pyxis Tankers believes that it is positioned to expand and maximize the value of its fleet in a timely manner due to a 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. Information contained on, or accessible through, the Pyxis Tankers Inc. website is not incorporated and does not form part of this press release.

Forward-looking statements

This press release includes “forward-looking statements” intended to benefit from the safe harbor of liability established by the Private Securities Litigation Reform Act of 1995 to encourage companies to provide forward-looking information about their activities. These statements include statements about our plans, strategies, financial performance objectives, prospects or future events or performance and involve known and unknown risks which are difficult to predict. Therefore, our actual results, performance or achievements may differ materially from those expressed or implied by such forward-looking statements. In some cases, you can identify forward-looking statements by using words such as “may”, “could”, “expects”, “research”, “foresee”, “plan”, “projects”, “the intention “,” plans “,” anticipates “,” believes “,” estimates “,” objectives “,” pursue “,” contemplate “,” possible “,” probable “,” could “,” will “,” should ” , “”, “Potential” and variations of such similar terms and expressions, or the negative of such similar terms or expressions. All statements that are not statements of historical or current fact, including, but not limited to, our expected financial performance, expectations or objectives regarding future expectations and market charter rates and, in particular, the effects of COVID-19 about our financial condition and operations and the petroleum product industry, in general, are forward-looking statements. These forward-looking statements are necessarily based on estimates and assumptions. While the Company believes these assumptions were reasonable when made, as these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the control of the Company, the Company cannot assure you that it will meet or fulfill these expectations. , beliefs or projections. The actual results of the Company may differ, perhaps materially, from those anticipated in these forward-looking statements due to certain factors, including changes in the financial resources and operational capabilities of the Company and due to certain other factors listed. from time to time in documents filed by the Company with the United States Securities and Exchange Commission. For more information on the risks and uncertainties associated with our business, please refer to our filings with the United States Securities and Exchange Commission, including, without limitation, under the heading ” risk ”in our annual report on Form 20-F for the year ended. December 31, 2020. We caution you not to place undue reliance on forward-looking statements, which are made as of the date of this press release. We do not undertake to publicly update any information contained 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 law.

Company

Pyxis Tanks Inc.
59 K. Karamanli Street
Maroussi 15125 Greece
[email protected]

Visit our website at www.pyxistankers.com

Company contact

Henri williams
Financial director
Phone: +30 (210) 638 0200 / +1 (516) 455-0106
E-mail: [email protected]

Source: Pyxis Tankers Inc.

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