Cambridge Capital Acquisition Corporation Reschedules Date of Special Meeting to Approve Business Combination With Parakou Tankers, Inc. and Announces Mailing Date for Definitive Proxy Statement

WEST PALM BEACH, FL and SINGAPORE--(Marketwired - Mar 27, 2015) - Cambridge Capital Acquisition Corporation (NASDAQ: CAMB) (NASDAQ: CAMBU) (NASDAQ: CAMBW) ("Cambridge") today announced that the date for the Special Meeting of Stockholders ("Special Meeting") to approve, among other things, the proposed business combination between Cambridge and privately-held Parakou Tankers, Inc. ("Parakou") has been rescheduled to April 22, 2015. Additionally, Cambridge will commence mailing of the notice of the Special Meeting and the definitive proxy statement/prospectus to stockholders on March 30, 2015. 

Stockholders of record at the close of business on March 4, 2015 are entitled to receive notice of the Special Meeting and to vote the shares of common stock of Cambridge owned by them at the Special Meeting. The Special Meeting is to be held on April 22, 2015 at 10:00 A.M. EST in the offices of DLA Piper LLP (US), 200 Biscayne Boulevard, Suite 2500, Miami, Florida 33131-5341.

Stockholders who hold their shares in "street name," which means the shares are held of record by a broker, bank or nominee, should contact their broker, bank or nominee to ensure that votes related to the shares beneficially owned by such stockholders are properly counted. In this regard, holders must provide the broker, bank or nominee with instructions on how to vote the shares or, if such a stockholder wishes to attend the meeting and vote in person, obtain a proxy from the broker, bank or nominee. 

Additionally, Cambridge advises holders of its securities to move these securities into accounts that do not permit the lending of securities, so called cash accounts or segregated accounts, and out of accounts that permit the lending of securities, such as margin accounts. These steps are designed to ensure that votes related to common stock beneficially owned by stockholders are properly counted. Beneficial owners of common stock that have been lent out (either with or without the beneficial owners' knowledge) are not permitted to vote those shares.