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NewLead Holdings Ltd. Announces 1-for-3 Reverse Split of Common Shares



    NewLead Holdings Ltd. Announces 1-for-3 Reverse Split of Common Shares

PR Newswire

PIRAEUS, Greece, Nov. 20, 2013

PIRAEUS, Greece, Nov. 20, 2013 /PRNewswire/ -- NewLead Holdings Ltd. (NASDAQ:
NEWL) ("NewLead" or the "Company") today announced that a 1-for-3 reverse
stock split of its common shares has been approved by the Company's Board of
Directors and by written consent of a majority of shareholders, effective upon
the commencement of trading on December 6, 2013.

The reverse split will consolidate every three common shares into one common
share, par value of $0.01 per share. As a result of the reverse stock split,
the number of common shares of the Company's common shares outstanding would
currently be reduced from 47,663,633 to approximately 15,887,878 shares,
subject to rounding up of all fractional shares to the nearest whole share. In
respect to the underlying common shares associated with any derivative
securities, such as warrants, options and convertible notes, the conversion
and exercise prices and number of common shares issuable generally will be
adjusted in accordance to the 1:3 ratio. The number of authorized common
shares and preferred shares of NewLead will not be affected by the reverse
split.

It is anticipated that the transaction will establish a higher market price
for the Company's common shares and reduce per share transaction fees as well
as certain administrative costs.  The reverse stock split is being undertaken
in an effort to regain compliance with the continued listing standards of
Nasdaq.

NewLead's transfer agent, Continental Stock Transfer & Trust Co
("Continental"), will also act as exchange agent for the reverse stock split.
After the reverse split takes effect, shareholders will receive information
from Continental regarding the process for exchanging their common shares.
Continental will notify shareholders of record that hold physical certificates
as of the effective time to transmit outstanding share certificates, and,
unless requested, will subsequently issue new book entry statements of holding
representing one post-split common share for every three common shares held of
record as of the effective time. Shareholders that currently hold common
shares in book entry form will receive updated statements of holding
reflecting the reverse split and need not take any action.

NewLead's common shares will begin trading on a split adjusted basis when the
market opens on December 6, 2013.

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 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
www.newleadholdings.com

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of
1995
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 or
acquire 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
Ltd.                                                             
Telephone: + 30 213 014 8023
Email: egerouki@newleadholdings.com

SOURCE NewLead Holdings Ltd.

Website: http://www.newleadholdings.com
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