NewLead Holdings Ltd. Agrees to Annul Transaction for Contribution of Nickel

 NewLead Holdings Ltd. Agrees to Annul Transaction for Contribution of Nickel

PR Newswire

PIRAEUS, Greece, June 7, 2013

PIRAEUS, Greece, June 7, 2013 /PRNewswire/ -- NewLead Holdings Ltd. (NASDAQ:
NEWL) ("NewLead") today announced that the Company agreed to unwind the
transaction whereby 3,750 grams of nickel wire had been contributed to NewLead
in exchange for 258,536,585 shares of common stock of NewLead.

As previously disclosed in a Form 6-K, filed on January 23, 2013, NewLead had
signed a purchase agreement that allowed NewLead to unwind the transaction if
the nickel wire was not sold or used as collateral within 18 months of the
date of the purchase agreement. NewLead decided that it was in the best
interests of its shareholders to cancel the transaction, as efforts to use
this nickel wire as collateral had not succeeded.

The shares issued to the seller will be cancelled and will no longer be
outstanding and the nickel wire will be returned to the investor. After giving
effect to such transactions, NewLead will have 547,609,560 shares outstanding.

NewLead believes that unwinding the transaction will expedite the filing of
the Annual Report on Form 20-F for the fiscal year ended December 31, 2012.

About NewLead Holdings Ltd.
NewLead Holdings Ltd. is an international, vertically integrated shipping and
commodity company that manages product tankers and dry bulk vessels. NewLead
currently controls four vessels, two tankers and two dry bulk vessels.
NewLead's common shares are traded under the symbol "NEWL" on the NASDAQ
Global Select Market. To learn more about NewLead Holdings Ltd., please visit
the new website at

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
This press release includes assumptions, expectations, projections, intentions
and beliefs about future events. These statements, as well as words such as
"anticipate," "estimate," "project," "plan," and "expect," are intended to be
''forward-looking" statements. We caution that assumptions, expectations,
projections, intentions and beliefs about future events may vary from actual
results and the differences can be material. Forward-looking statements
include, but are not limited to, such matters as the creditworthiness of our
counterparties, the reliability of reserve reports, our ability to extract
coal to fulfill contracts, the consummation of conditional contracts, future
operating or financial results; our liquidity position and cash flows, our
ability to borrow additional amounts under our revolving credit facility and,
if needed, to obtain waivers from our lenders and restructure our debt, and
our ability to continue as a going concern; statements about planned, pending
or recent vessel disposals and/or acquisitions, business strategy, future
dividend payments and expected capital spending or operating expenses,
including dry-docking and insurance costs; statements about trends in the
product tanker and dry bulk vessel shipping segments, including charter rates
and factors affecting supply and demand; expectations regarding the
availability of vessel acquisitions; completion of repairs; length of
off-hire; availability of charters; and anticipated developments with respect
to any pending litigation. 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, management's
examination of historical operating trends, data contained in our records and
other data available from third parties. Although NewLead believes 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, NewLead cannot
assure you that it will achieve or accomplish these expectations, beliefs or
projections described in the forward looking statements. 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 changes in
charter rates and vessel values, failure of a seller to deliver one or more
vessels, and other factors discussed in NewLead's filings with the U.S.
Securities and Exchange Commission from time to time. NewLead expressly
disclaims any obligations or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to reflect any
change in NewLead's expectations with respect thereto or any change in events,
conditions or circumstances on which any statement is based.

Investor and Media Relations:
Elisa Gerouki
NewLead Holdings
Telephone: + 30 213 014 8023

SOURCE NewLead Holdings Ltd.

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