Petrogress, Inc. CEO Christos Traios Delivers Open Letter to Shareholders

NEW YORK, NY--(Marketwired - Nov 21, 2016) - Petrogress, Inc. (OTC PINK: PGAS) ("Petrogress" or the "Company"), today announced the following open letter to Shareholders.

Dear Valued Petrogress Shareholders,

As we near the end of 2016, I would like to take the opportunity to update you on our progress and recent developments during this past year and to provide an overview of our growth strategy and plan for the future. 

During the first quarter of 2016, the Company changed its name from "800 Commerce, Inc." to "Petrogress, Inc." following the completion of a reverse merger with Petrogres Co. Limited ("Petrogres"), an oil commodity trading company and sea-carrier provider of petroleum products by its four beneficially-owned affiliated vessels. As a result, Petrogres became a wholly-owned subsidiary of the Company. In connection with this merger and subsequent name change, the Company began trading under a new ticker symbol (OTC PINK: PGAS). 

Petrogres brings to the public company and its shareholders tangible assets (tankers ships) and strong operations, with expected growth of our gross revenue stream and a fully operational management team that is constantly looking to expand into other markets, where we have years of deep-rooted experience dealing with our trading partners.

Since its inception, Petrogres has evolved its business from focusing solely on fleet and tanker ship operations to expand into the oil and gas industry as a trader and merchant of oil. Over the last five years, Petrogres has strengthened its position as a key player in the oil and gas industry by combining its regional market knowledge with over 25 years of experience to successfully establish both its midstream and downstream operations to serve markets primarily located in West Africa and the Mediterranean.

As a result of the reverse merger, Petrogres effectively became a public company, which we believe would help expose the company to various investment opportunities in other markets in order to increase operational efficiency and expand operations, thereby increasing value to our Shareholders.

Presently, the Company is primarily acting as a holding company for the following three subsidiaries:

• Petrogres Co. Limited, a Marshall Islands corporation, is an international merchant of petroleum products, specializing in crude oil and refined products trade within West Africa and Mediterranean countries; 
• Petronav Carriers LLC, a Delaware limited liability company, is responsible for the day-to-day management of operations relating to the sea transportation of liquid petroleum products through its fleet of four tanker ships; and
• Petrogress Oil & Gas Energy Inc., a Texas corporation, is focused on acquiring interests in oil fields in Texas, with plans to expand operations to include oil refinery production based in the U.S. and to export liquefied natural gas ("LNG") to Mediterranean markets.

Following consummation of the merger, Petrogres has successfully negotiated several new operational affiliations and partnerships to strengthen our existing oil operating platform.