Euroseas Ltd. Announces the Results of Its 2017 Annual General Meeting of Shareholders

MAROUSSI, ATHENS, GREECE--(Marketwired - Jun 28, 2017) -  Euroseas Ltd. (NASDAQ: ESEA) (the "Company"), an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, today announced the official results of its 2017 Annual General Meeting, held on June 23, 2017 at 10:30 a.m. local time in New York, NY USA. The following proposals were approved by the Company's shareholders:

1. Mr. Aristides J. Pittas, Dr. Anastasios Aslidis and Mr. Aristides P. Pittas were re-elected as Class A Directors to serve for a term of three years until the 2020 Annual Meeting of Shareholders ("Proposal One");

2. An amendment to the Company's Amended and Restated Articles of Incorporation to effect a reverse stock split of the Company's issued and outstanding shares of common stock by a ratio of between one-for-two and one-for-ten, inclusive, to be determined by the Company's Board of Directors in its discretion, and to authorize the Company's Board of Directors to implement the reverse stock split at any time prior to the Company's 2018 Annual Meeting of Shareholders by filing such amendment with the Registrar of Corporations of the Republic of the Marshall Islands ("Proposal Two"); and

3. Deloitte Certified Public Accountants, S.A. was approved as the Company's independent auditors for the fiscal year ending December 31, 2017 ("Proposal Three").

About Euroseas Ltd.

Euroseas Ltd. was formed on May 5, 2005 under the laws of the Republic of the Marshall Islands to consolidate the ship owning interests of the Pittas family of Athens, Greece, which has been in the shipping business over the past 140 years. Euroseas trades on the Nasdaq Capital Market under the ticker symbol ESEA.

Visit our website www.euroseas.gr. Information contained on our website does not constitute a part of this press release.