Nordic American Offshore Ltd. (NYSE: NAO) Contemplated offshore project.
23 Novembre 2018 - 11:53AM
Hamilton, Bermuda, November 23, 2018
Dear Shareholders,
The contemplated business combination, involving NAO and a group
in Eastern Canada (Horizon Maritime), has been shelved as it has
been decided not to move forward at this time. A Nordic company
(Nordic Canadian Shipping Ltd) was engaged in the area during the
1990s at the Cohasset Panuke oil field which ceased oil production
in 1999.
Cautionary Statement Regarding 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 in order to encourage companies to
provide prospective information about their business.
Forward-looking statements 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.
The Company desires to take advantage of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995
and is including this cautionary statement in connection with this
safe harbor legislation. The words "believe," "anticipate,"
"intend," "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, 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. We undertake no obligation to update any
forward-looking statement, whether as a result of new information,
future events or otherwise.
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 and currencies,
general market conditions, including fluctuations in charter rates
and vessel values, changes in demand in the PSV market, as a result
of changes in the general market conditions of the oil and natural
gas industry which influence charter hire rates and vessel values,
demand in platform supply vessels, our operating expenses,
including bunker prices, dry docking and insurance
costs, governmental rules and regulations or actions taken by
regulatory authorities as well as potential liability from pending
or future litigation, general domestic and international political
conditions, potential disruption of shipping routes due to
accidents or political events, the availability of financing and
refinancing, vessel breakdowns and instances of off-hire and other
important factors described from time to time in the reports filed
by the Company with the Securities and Exchange Commission.
Contact Information
Gary J. WolfeSeward & Kissel LLP, New York, USATel: +1 212
574 1223
Bjørn Giæver, CFO Nordic American Offshore Ltd. Tel:
+1 888 755 8391 or +47 91 35 00 91
Herbjørn Hansson, Executive ChairmanNordic American Offshore
Ltd.Tel: +1 866 805 9504 or + 47 90 14 62 91
www.nao.bm
Nordic American Offshore Ltd. (NYSE:NAO)
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