Notes: Oct. 2, 2014 -- Quartet Holdco Ltd., a Bermuda Blank Check company and our wholly-owned subsidiary Quartet Merger Corp. (NASDAQ: QTET; QTETR, QTETU) and Pangaea Logistics Solutions Ltd. (NASDAQ: PANL) today announced the closing of their business combination. Quartet merged into Pangaea Logistics Solutions Ltd., which became the new public holding company. The combined company’s common shares will commence trading on NASDAQ under the Pangaea name & ticker symbol PANL on October 3, 2014. _______________November 1,2013 -- Quartet Merger Corp. (QTETU) announced today that it has completed its initial public offering of 8,400,000 units. Each unit consists of one share of common stock and one right to automatically receive one-tenth of one share of common stock upon consummation of the Company’s initial business combination. The units were sold at an offering price of $10.00 per unit, generating gross proceeds of $84,000,000 to the Company. EarlyBirdCapital, Inc. acted as the lead managing underwriter of the initial public offering. Graubard Miller acted as counsel to the Company and McDermott Will & Emery LLP acted as counsel to the underwriters. The Company also announced the simultaneous consummation of the private sale of 542,500 units at a price of $10.00 per unit, generating total proceeds of $5,425,000. Of these private units, 500,500 were purchased by the initial stockholders of the Company and 42,000 were purchased by EarlyBirdCapital, Inc. (and its designees). The private units are identical to the units sold in the initial public offering. However, the holders of the private units have agreed to provisions.