<SEC-DOCUMENT>0001144204-17-020240.txt : 20170413
<SEC-HEADER>0001144204-17-020240.hdr.sgml : 20170413
<ACCEPTANCE-DATETIME>20170413061827
ACCESSION NUMBER:		0001144204-17-020240
CONFORMED SUBMISSION TYPE:	F-3
PUBLIC DOCUMENT COUNT:		16
FILED AS OF DATE:		20170413
DATE AS OF CHANGE:		20170413

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GLOBUS MARITIME LTD
		CENTRAL INDEX KEY:			0001499780
		STANDARD INDUSTRIAL CLASSIFICATION:	DEEP SEA FOREIGN TRANSPORTATION OF FREIGHT [4412]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			1T

	FILING VALUES:
		FORM TYPE:		F-3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-217282
		FILM NUMBER:		17759249

	BUSINESS ADDRESS:	
		STREET 1:		128 VOULIAGMENIS AVENUE 3RD FL
		STREET 2:		166 74 GLYFADA
		CITY:			ATHENS GREECE
		STATE:			J3
		ZIP:			00000
		BUSINESS PHONE:		30 210 960 8300

	MAIL ADDRESS:	
		STREET 1:		128 VOULIAGMENIS AVENUE 3RD FL
		STREET 2:		166 74 GLYFADA
		CITY:			ATHENS GREECE
		STATE:			J3
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>F-3
<SEQUENCE>1
<FILENAME>v461933_f3.htm
<DESCRIPTION>F-3
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><B>As filed with the Securities and Exchange Commission on April 13, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Registration No.&nbsp;333-</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FORM F-3</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>REGISTRATION STATEMENT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>UNDER</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><I>THE SECURITIES ACT OF 1933</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 3pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>Globus Maritime
Limited </B></FONT><BR>
(Exact name of registrant as specified in its charter)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Not Applicable</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(Translation of registrant&rsquo;s name into
English)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Republic of the Marshall Islands</B></FONT></TD>
    <TD STYLE="width: 50%; font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>66-0757368</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(State or other jurisdiction of incorporation
    or </FONT><BR>
    <FONT STYLE="font-size: 10pt">organization)</FONT></TD>
    <TD STYLE="font-size: 10pt; text-align: center"><FONT STYLE="font-size: 10pt">(I.R.S.&nbsp;&nbsp;Employer Identification Number)</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="CENTER"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 25%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">128 Vouliagmenis Avenue, 3rd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">166 74 Glyfada</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Athens, Greece<BR>
+30 210 960 8300</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; text-indent: 0.5in">(Address and telephone
number of Registrant&rsquo;s principal executive offices)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Watson Farley &amp;
Williams LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">250 West 55<SUP>th</SUP>
Street, 31<SUP>st</SUP> Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">New York, New York 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">(Name, address, and telephone
number of agent for service)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>with copies to:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Steven J. Hollander, Esq.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Watson Farley &amp; Williams LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">250 West 55<SUP>th</SUP> Street, 31<SUP>st
</SUP>Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">New York, New York 10019</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(212) 922-2200 (Telephone)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">(212) 922-1512 (Facsimile)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Approximate date of commencement of proposed sale to the public:&nbsp;From
time to time after this registration statement becomes effective as determined by market conditions and other factors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">If the only securities being registered on
this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">If any of the securities being registered
on this Form are to be offered on a delayed or continuous basis pursuant to Rule&nbsp;415 under the Securities Act of 1933, check
the following box.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">x</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">If this Form is filed
to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following
box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">If this Form is a registration
statement pursuant to General Instruction I.C. or a post-effective amendment thereto that shall become effective upon filing with
the Commission pursuant to Rule 462I under the Securities Act, check the following box.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">If this Form is a post-effective
amendment to a registration statement filed pursuant to General Instruction I.C. filed to register additional securities or additional
classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box.&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&uml;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CALCULATION OF REGISTRATION FEE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Title
                                         of Each Class of</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Securities
                                         to be Registered</B></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Amount</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>to
                                         be</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Registered</B></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Proposed Maximum<BR>
    Offering Price Per <BR> Share</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="text-align: center; border-bottom: Black 1pt solid"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Proposed</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Maximum</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Aggregate</B></P> <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Offering
                                         Price</B></P></TD><TD NOWRAP STYLE="padding-bottom: 1pt">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Amount of<BR> Registration
    Fee</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -12pt; padding-left: 12pt">Secondary Offering</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 48%; text-indent: -12pt; padding-left: 12pt">Common Shares, par value $0.004</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">4,000,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3.27</TD><TD STYLE="width: 1%; text-align: left">(1)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">13,080,000</TD><TD STYLE="width: 1%; text-align: left">(1)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">1,516</TD><TD STYLE="width: 1%; text-align: left"></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -12pt; padding-left: 12pt">Common Shares, par value $0.004 per share, underlying common stock purchase
    warrants (2)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">32,380,017</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.27</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">105,882,656</TD><TD STYLE="text-align: left">(3)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">12,272</TD><TD STYLE="text-align: left">(2)</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">1.</TD><TD>Estimated solely for the purpose of calculating the registration
                                         fee in accordance with Rule 457(c) under the Securities Act of 1933, as amended. The
                                         price per share and proposed maximum aggregate offering price are based on the average
                                         of the high and low sale prices of the registrant&rsquo;s common shares on April 12, 2017,
                                         as reported on the Nasdaq Capital Market.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">2.</TD><TD>Represents common stock issuable upon the exercise (at a price
                                         of $1.60 per share) of outstanding warrants.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">3.</TD><TD>Estimated solely for the purpose of computing the amount of the
                                         registration fee for the shares of common stock issuable upon exercise of warrants to
                                         be registered in accordance with Rule&nbsp;457(g)&nbsp;under the Securities Act, based
                                         upon the higher of (i) the price at which the warrants may be exercised or (ii) the Market
                                         Price of the common stock.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Registrant hereby amends this Registration
Statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further amendment
which specifically states that this Registration Statement shall thereafter become effective in accordance with Section&nbsp;8(a)
of the Securities Act of 1933 or until the Registration Statement shall become effective on such date as the Securities and Exchange
Commission, acting pursuant to said Section&nbsp;8(a), may determine.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: red">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: red">The information in this prospectus
is not complete and may be changed. This prospectus is not an offer to sell these securities and it is not soliciting an offer
to buy or sell these securities in any jurisdiction where the offer or sale is not permitted. These securities may not be sold
until the registration statement filed with the Securities and Exchange Commission is effective.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; color: #DE1A1E"><B>Subject to completion, dated
April 13, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>36,380,017
Common Shares</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>offered by
the Selling Shareholders</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><IMG SRC="pg3img1_f3.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Selling Shareholders listed herein (the
&ldquo;Selling Shareholders&rdquo;) or any of their pledgees, donees, transferees or successors in interest, may sell in one or
more offerings pursuant to this prospectus up to 36,380,017 of our common shares, 4 million of which are issued and outstanding
on the date hereof and 32,380,017 of which are issuable upon the exercise of warrants (which if all exercised would result in
gross proceeds to the Company of approximately $51.8 million).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Selling Shareholders or any of their pledgees,
donees, transferees or successors in interest may sell any or all of these common shares on any stock exchange, market or trading
facility on which the shares are traded or in privately negotiated transactions at fixed prices that may be changed, at market
prices prevailing at the time of sale or at negotiated prices. Information on the Selling Shareholders and the times and manners
in which they or any of their pledgees, donees, transferees or successors in interest may offer and sell our common shares is
described under the sections entitled &ldquo;Selling Shareholders&rdquo;, &ldquo;The Offering&rdquo;, and &ldquo;Plan of Distribution&rdquo;
in this prospectus. We will not receive any of the proceeds from the sale of our common shares by the Selling Shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our common shares are listed on
the Nasdaq Capital Market under the symbol &ldquo;GLBS.&rdquo; The opening sales price of our common stock on the Nasdaq
Capital Market as of April 12, 2017 was $3.27 per share. There were 27,628,789 of
our common shares outstanding as of April 12, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">An investment in these securities is
speculative and involves a high degree of risk. See the section entitled &ldquo;Risk&nbsp;Factors&rdquo; which begins on page
3 of this prospectus, and other risk factors contained in any applicable prospectus supplement and in the documents incorporated
by reference herein and therein.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Neither the Securities and Exchange Commission
nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful
or complete. Any representation to the contrary is a criminal offense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>The date of this prospectus is April 13,
2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top; width: 90%"><A HREF="#a_001">ABOUT THIS PROSPECTUS</A></TD>
    <TD STYLE="vertical-align: bottom; width: 10%; text-align: right">ii</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_002">ENFORCEABILITY OF CIVIL LIABILITIES</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">ii</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_003">CAUTIONARY STATEMENT REGARDING FORWARD LOOKING STATEMENTS</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">ii</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_004">WHERE YOU CAN FIND ADDITIONAL INFORMATION</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">iv</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_005">PROSPECTUS SUMMARY</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">1</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_006">RISK FACTORS</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">3</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_009">USE OF PROCEEDS</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">5</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_010">PER SHARE MARKET PRICE INFORMATION</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">6</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_011">CAPITALIZATION</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_012">SELLING SHAREHOLDERS</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">7</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_013">PLAN OF DISTRIBUTION</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">8</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_014">DESCRIPTION OF CAPITAL STOCK</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">10</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_015">NON-UNITED STATES TAX CONSIDERATIONS</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">12</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_016">EXPENSES</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">13</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_017">LEGAL MATTERS</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">13</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; text-align: right">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="vertical-align: top"><A HREF="#a_018">EXPERTS</A></TD>
    <TD STYLE="vertical-align: bottom; text-align: right">13</TD></TR>
</TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_001"></A>ABOUT THIS PROSPECTUS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">As permitted under the
rules of the Securities and Exchange Commission, or the Commission, this prospectus incorporates important business information
about us that is contained in documents that we have previously filed with the Commission but that are not included in or delivered
with this prospectus. You may obtain copies of these documents, without charge, from the website maintained by the Commission
at www.sec.gov, as well as other sources. You may also obtain copies of the incorporated documents, without charge, upon written
or oral request to Globus Maritime Limited, 128 Vouliagmenis Avenue, 3rd Floor, 166 74 Glyfada, Athens, Greece, or by telephone
at +30 210 960 8300. See &ldquo;Where You Can Find Additional Information.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">You should rely only
on the information contained or incorporated by reference in this prospectus. Neither we nor the Selling Shareholders authorize
any person to provide information other than that provided in this prospectus and the documents incorporated by reference. Neither
we nor the Selling Shareholders are making an offer to sell common shares in any state or other jurisdiction where the offer or
sale is not permitted. You should not assume that the information contained in this prospectus is accurate as of any date other
than the date on the front of this prospectus regardless of its time of delivery, and you should not consider any information
in this prospectus or in the documents incorporated by reference herein to be investment, legal or tax advice. We encourage you
to consult your own counsel, accountant and other advisors for legal, tax, business, financial and related advice regarding an
investment in our securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Unless otherwise indicated
or unless the context requires otherwise, all references in this prospectus to &ldquo;Globus,&rdquo; the &ldquo;Company,&rdquo;
&ldquo;we,&rdquo; &ldquo;us,&rdquo; &ldquo;our,&rdquo; or similar references, mean Globus Maritime Limited and, where applicable,
its consolidated subsidiaries. In addition, we use the term deadweight, or dwt, in describing the size of vessels. Dwt expressed
in metric tons, each of which is equivalent to 1,000 kilograms, refers to the maximum weight of cargo and supplies that a vessel
can carry. To the extent the Selling Shareholders transfer our common shares or our warrants and the shares are not unrestricted,
we may add the recipients of those common shares and warrants as Selling Shareholders via a prospectus supplement or post-effective
amendment. Any references to the &ldquo;Selling Shareholders&rdquo; shall be deemed to be references to each such additional Selling
Shareholders.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_002"></A>ENFORCEABILITY OF CIVIL LIABILITIES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">We are a Marshall Islands
company, and our principal executive office is located outside of the United States, in Greece. Most of our directors, officers
and the experts named in this registration statement and prospectus reside outside the United States. In addition, a substantial
portion of our assets and the assets of certain of our directors, officers and experts are located outside of the United States.
As a result, you may have difficulty serving legal process within the United States upon us or any of these persons. You may also
have difficulty enforcing, both in and outside the United States, judgments you may obtain in United States courts against us
or these persons.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_003"></A>CAUTIONARY STATEMENT REGARDING FORWARD
LOOKING STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">This prospectus includes
&ldquo;forward-looking statements,&rdquo; as defined by U.S. federal securities laws, with respect to our financial condition,
results of operations and business and our expectations or beliefs concerning future events. Forward-looking statements provide
our current expectations or forecasts of future events. Forward-looking statements include statements about our expectations,
beliefs, plans, objectives, intentions, assumptions and other statements that are not historical facts or that are not present
facts or conditions. Forward-looking statements and information can generally be identified by the use of forward-looking terminology
or words, such as &ldquo;anticipate,&rdquo; &ldquo;approximately,&rdquo; &ldquo;believe,&rdquo; &ldquo;continue,&rdquo; &ldquo;estimate,&rdquo;
&ldquo;expect,&rdquo; &ldquo;forecast,&rdquo; &ldquo;intend,&rdquo; &ldquo;may,&rdquo; &ldquo;ongoing,&rdquo; &ldquo;pending,&rdquo;
&ldquo;perceive,&rdquo; &ldquo;plan,&rdquo; &ldquo;potential,&rdquo; &ldquo;predict,&rdquo; &ldquo;project,&rdquo; &ldquo;seeks,&rdquo;
&ldquo;should,&rdquo; &ldquo;views&rdquo; or similar words or phrases or variations thereon, or the negatives of those words or
phrases, or statements that events, conditions or results &ldquo;can,&rdquo; &ldquo;will,&rdquo; &ldquo;may,&rdquo; &ldquo;must,&rdquo;
&ldquo;would,&rdquo; &ldquo;could&rdquo; or &ldquo;should&rdquo; occur or be achieved and similar expressions in connection with
any discussion, expectation or projection of future operating or financial performance, costs, regulations, events or trends.
The absence of these words does not necessarily mean that a statement is not forward-looking. Forward-looking statements and information
are based on management&rsquo;s current expectations and assumptions, which are inherently subject to uncertainties, risks and
changes in circumstances that are difficult to predict.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">All forward-looking statements
involve risks and uncertainties. The occurrence of the events described, and the achievement of the expected results, depend on
many events, some or all of which are not predictable or within our control. Actual results may differ materially from expected
results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In addition, important
factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements
include:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>general dry
                                         bulk shipping market conditions, including fluctuations in charterhire rates and vessel
                                         values;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the strength
                                         of world economies;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the stability
                                         of Europe and the Euro;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>fluctuations
                                         in interest rates and foreign exchange rates;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>changes in
                                         demand in the dry bulk shipping industry, including the market for our vessels;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>changes in
                                         our operating expenses, including bunker prices, dry docking and insurance costs;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>changes in
                                         governmental rules and regulations or actions taken by regulatory authorities;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>potential liability
                                         from pending or future litigation;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>general domestic
                                         and international political conditions;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>potential disruption
                                         of shipping routes due to accidents or political events;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>the availability
                                         of financing and refinancing;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability
                                         to meet requirements for additional capital and financing to grow our business;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>vessel breakdowns
                                         and instances of off-hire;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>potential exposure
                                         or loss from investment in derivative instruments;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>potential conflicts
                                         of interest involving our Chief Executive Officer, his family and other members of our
                                         senior management;</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>our ability
                                         to complete acquisition transactions as planned; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD>other important
                                         factors described in &ldquo;Risk Factors&rdquo; and in other places incorporated by reference.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">We have based these statements
on assumptions and analyses formed by applying our experience and perception of historical trends, current conditions, expected
future developments and other factors we believe are appropriate in the circumstances. All future written and verbal forward-looking
statements attributable to us or any person acting on our behalf are expressly qualified in their entirety by the cautionary statements
contained or referred to in this section. We undertake no obligation, and specifically decline any obligation, except as required
by law, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or
otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this prospectus might
not occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">See the sections entitled
&ldquo;Risk Factors&rdquo; of this prospectus and in our Annual Report on Form 20-F for the year ended December&nbsp;31, 2016,
which is incorporated herein by reference, for a more complete discussion of these risks and uncertainties and for other risks
and uncertainties. These factors and the other risk factors described in this prospectus are not necessarily all of the important
factors that could cause actual results or developments to differ materially from those expressed in any of our forward-looking
statements. Other unknown or unpredictable factors also could harm our results. Consequently, there can be no assurance that actual
results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected
consequences to, or effects on, us. Given these uncertainties, prospective investors are cautioned not to place undue reliance
on such forward-looking statements.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_004"></A>WHERE YOU CAN FIND ADDITIONAL INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">As required by the Securities
Act, we filed a registration statement relating to the securities offered by this prospectus with the Commission. This prospectus
is a part of that registration statement, which includes additional information.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Government Filings</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">We file annual and special
reports with the Commission. You may read and copy any document that we file and obtain copies at prescribed rates from the Commission&rsquo;s
Public Reference Room at 100 F Street, N.E., Washington, D.C. 20549. You may obtain information on the operation of the Public
Reference Room by calling 1 (800)&nbsp;SEC-0330. The Commission maintains a website (http://www.sec.gov) that contains reports,
proxy and information statements and other information regarding issuers that file electronically with the Commission. Our filings
are also available on our website at http://www.globusmaritime.gr. The information on our website, however, is not, and should
not be deemed to be, a part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">This prospectus and any
applicable prospectus supplement are part of a registration statement that we filed with the Commission and do not contain all
of the information in the registration statement. The full registration statement may be obtained from the Commission or us, as
indicated below. Documents establishing the terms of the offered securities are filed as exhibits to the registration statement.
Statements in this prospectus or any applicable prospectus supplement about these documents are summaries and each statement is
qualified in all respects by reference to the document to which it refers. You should refer to the actual documents for a more
complete description of the relevant matters. You may inspect a copy of the registration statement at the Commission&rsquo;s Public
Reference Room in Washington, D.C., as well as through the Commission&rsquo;s website.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Information Incorporated by Reference</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Commission allows
us to &ldquo;incorporate by reference&rdquo; information that we file with it. This means that we can disclose important information
to you by referring you to those filed documents. The information incorporated by reference is considered to be a part of this
prospectus, and certain information that we file later with the Commission prior to the termination of this offering will also
be considered to be part of this prospectus and will automatically update and supersede previously filed information, including
information contained in this document.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The following documents,
filed with or furnished to the SEC, are specifically incorporated by reference and form an integral part of this prospectus:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417019941/v462766_20f.htm">Our Annual Report on Form 20-F for the year ended December&nbsp;31, 2016, filed with the Commission on April 11, 2017, containing our audited consolidated financial statements for the most recent fiscal year for which those statements have been filed.</A> </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">We are also incorporating
by reference all subsequent Annual Reports on Form 20-F that we file with the Commission and certain reports on Form 6-K that
we furnish to the Commission after the date of this prospectus (if they state that they are incorporated by reference into this
prospectus) until we file a post-effective amendment indicating that the offering of the securities made by this prospectus has
been terminated. In all cases, you should rely on the later information over different information included in this prospectus
or the applicable prospectus supplement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">You should rely only
on the information contained or incorporated by reference in this prospectus and any applicable prospectus supplement. We have
not, and any underwriters have not, authorized any other person to provide you with different information. If anyone provides
you with different or inconsistent information, you should not rely on it. We are not, and any underwriters are not, making an
offer to sell these securities in any jurisdiction where the offer or sale is not permitted. You should assume that the information
appearing in this prospectus and any applicable prospectus supplement as well as the information we previously filed or furnished
with the Commission and incorporated by reference, is accurate as of the dates on the front cover of those documents only. Our
business, financial condition and results of operations and prospects may have changed since those dates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">You may request a free copy of the above mentioned
filing or any subsequent filing we incorporate by reference to this prospectus by writing or telephoning us at the following address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Globus Maritime Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">c/o Globus Shipmanagement Corp.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">128 Vouliagmenis Avenue</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">3rd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">166 74 Glyfada</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">Athens, Greece</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">+30 210 960 8300</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Information provided by the Company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">We will furnish holders
of our common shares with Annual Reports containing audited financial statements and a report by our independent registered public
accounting firm. The audited financial statements will be prepared in accordance with International Financial Reporting Standards.
As a &ldquo;foreign private issuer,&rdquo; we are exempt from the rules under the Exchange Act prescribing the furnishing and
content of proxy statements to shareholders. While we furnish proxy statements to shareholders in accordance with the rules of
the Nasdaq Capital Market, those proxy statements do not conform to Schedule 14A of the proxy rules promulgated under the Exchange
Act. In addition, as a &ldquo;foreign private issuer,&rdquo; our officers and directors are exempt from the rules under the Exchange
Act relating to short swing profit reporting and liability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_005"></A>PROSPECTUS SUMMARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt"><I>&nbsp;</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: left; text-indent: 24.5pt"><I>This summary highlights
information that appears later in this prospectus and is qualified in its entirety by the more detailed information and financial
statements included or incorporated by reference elsewhere in this prospectus. This summary may not contain all of the information
that may be important to you. As an investor or prospective investor, you should carefully review the entire prospectus, including
the section of this prospectus entitled &ldquo;Risk Factors&rdquo; and the more detailed information that appears later in this
prospectus before making an investment in our common shares.</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Our Business</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><I>Our Company</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">We are an integrated
dry bulk shipping company, providing marine transportation services on a worldwide basis. We own, operate and manage a fleet of
dry bulk vessels that transport iron ore, coal, grain, steel products, cement, alumina and other dry bulk cargoes internationally.
Our Manager also provides ship-management consulting services regarding vessels that we do not own. We intend to grow our fleet
through timely and selective acquisitions of modern vessels in a manner that we believe will provide an attractive return on equity
and will be accretive to our earnings and cash flow based on anticipated market rates at the time of purchase. There is no guarantee
however, that we will be able to find suitable vessels to purchase or that such vessels will provide an attractive return on equity
or be accretive to our earnings and cash flow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Our operations are managed
by our Athens, Greece-based wholly owned subsidiary, Globus Shipmanagement Corp., which we refer to as our Manager, which provides
in-house commercial and technical management for our vessels. Our Manager has entered into a ship management agreement with each
of our wholly owned vessel-owning subsidiaries to provide services that include managing day-to-day vessel operations, such as
supervising the crewing, supplying, maintaining of vessels and other services, and has also entered into a consultancy agreement
with another ship-management company to consult for such ship-management company</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt; text-align: justify">We originally incorporated as Globus Maritime
Limited on July 26, 2006 pursuant to the Companies (Jersey) Law 1991 (as amended), and began operations in September 2006. On
November 24, 2010, we redomiciled into the Marshall Islands. Our common shares trade on the NASDAQ Global Market under the ticker
&ldquo;GLBS.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt; text-align: justify">The following table presents information concerning our vessels,
each of which is owned by a wholly owned subsidiary of Globus Maritime Limited. We use the term deadweight ton, or &ldquo;dwt,&rdquo;
in describing the size of vessels. Deadweight ton or &ldquo;dwt&rdquo; is a unit of a vessel&rsquo;s capacity for cargo, fuel
oil, stores and crew, measured in metric tons. A vessel&rsquo;s dwt or total deadweight is the total weight the vessel can carry
when loaded to a particular line.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 12%; text-align: center"><B>Vessel</B></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 6%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Year</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Built</B></P></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%; text-align: center"><B>Flag</B></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 16%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Direct</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Owner</B></P></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 15%; text-align: center"><B>Shipyard</B></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 12%; text-align: center"><B>Vessel&nbsp;Type</B></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 11%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Delivery</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Date</B></P></TD>
    <TD STYLE="width: 1%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 10%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Carrying</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Capacity</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(dwt)</B></P></TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><I>m/v</I> <I>Sun Globe</I></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;2007</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Malta</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;Longevity Maritime Limited</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;Tsuneishi Cebu</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;Supramax</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;September 2011</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">58,790</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: center"><I>m/v River Globe</I></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2007</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Marshall Islands</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Devocean Maritime Ltd.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Yangzhou Dayang</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Supramax</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">December 2007</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">53,627</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><I>m/v Sky Globe</I></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2009</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Marshall Islands</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Domina Maritime Ltd.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Taizhou Kouan</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Supramax</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">May 2010</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">56,855</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: center"><I>m/v Star Globe</I></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2010</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Marshall Islands</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Dulac Maritime S.A.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Taizhou Kouan</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Supramax</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">May 2010</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">56,867</TD></TR>
<TR STYLE="background-color: rgb(204,238,255)">
    <TD STYLE="text-align: center"><I>m/v Moon Globe</I></TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">2005</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Marshall Islands</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Artful Shipholding S.A.</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Hudong-Zhonghua</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">Panamax</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">June 2011</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">74,432</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">Total:</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right">300,571</TD></TR>
</TABLE>
<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><I>Corporate Information</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Our executive office
is located at the office of our Manager at 128 Vouliagmenis Avenue, 3rd Floor, 166 74 Glyfada, Athens, Greece. Our telephone number
is +30 210 960 8300. Our registered agent in the Marshall Islands is The Trust Company of the Marshall Islands, Inc. and our registered
address in the Marshall Islands is Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960. We
maintain our website at www.globusmaritime.gr. Information that is available on or accessed through our website does not constitute
part of, and is not incorporated by reference into, this registration statement on Form F-3.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><I>Recent and Other Developments</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">On February 8, 2017,
we entered into a Share and Warrant Purchase Agreement (the &ldquo;SPA&rdquo;) pursuant to which we sold for $5 million an aggregate
of 5 million of our common shares, par value $0.004 per share and warrants (the &ldquo;Warrants&rdquo;) to purchase 25 million
of our common shares at a price of $1.60 per share (subject to adjustment as more fully described herein in &ldquo;Description
of Capital Stock - Description of the Warrants&rdquo;) to a number of investors in a private placement. These securities were
issued in transactions exempt from registration under the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">On February 9, 2017 we
entered into a registration rights agreement with the Purchasers providing them with certain rights relating to registration under
the Securities Act of the Shares and the common shares underlying the Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In connection with the
closing of the private placement, we also entered into two loan amendment agreements (each, a &ldquo;Loan Amendment Agreement&rdquo;)
with each of two of our lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">One loan amendment agreement
was entered into by the Company with Firment Trading Limited, a Marshall Islands corporation (&ldquo;Firment&rdquo;), a related
party to us (it is an affiliate of our chairman), and the lender of the then outstanding loan in the principal amount of $18,523,787
to the Company (the &ldquo;Firment Credit Facility&rdquo;), pursuant to which Firment released (the &ldquo;Firment Loan Amendment&rdquo;)
an amount equal to $16,885,000 (but to have an amount equal to $1,638,787 remain outstanding, and to continue to accrue under
the Firment Credit Facility as though it were principal) of the Firment Credit Facility and the Company issued to Firment Shipping
Inc., an affiliate of Firment 16,885,000 common shares (the &ldquo;Firment Shares&rdquo;) and a warrant to purchase 6,230,580
common shares at a price of $1.60 per share (subject to adjustment as more fully described herein in &ldquo;Description of Capital
Stock - Description of the Warrants&rdquo;) (the &ldquo;Firment Warrant&rdquo;, together with Firment Shares, the &ldquo;Firment
Securities&rdquo;). Subsequent to the closing of the February 2017 private placement, Globus repaid the outstanding amount on
the Firment Credit Facility in its entirety.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The other loan amendment
agreement was entered into by the Company with Silaner Investments Limited, a Cyprus company (&ldquo;Silaner&rdquo;), a related
party to us (it is an affiliate of our chairman), and the lender of the then outstanding loan in the principal amount of $3,189,048
to the Company (the &ldquo;Silaner Credit Facility&rdquo;), pursuant to which Silaner agreed to release (the &ldquo;Silaner Loan
Amendment&rdquo;) an amount equal to the outstanding principal of $3,115,000 (but to have an amount equal to the accrued and unpaid
interest of $74,048 remain outstanding, and to continue to accrue under the Silaner Credit Facility as though it were principal)
of the Silaner Credit Facility and the Company issued to Firment Shipping Inc., an affiliate of Silaner 3,115,000 common shares
(the &ldquo;Silaner Shares&rdquo;) and a warrant to purchase 1,149,437 common shares at a price of $1.60 per share (subject to
adjustment as more fully described herein in &ldquo;Description of Capital Stock - Description of the Warrants&rdquo;) (the &ldquo;Silaner
Warrant&rdquo;, together with the Silaner Shares, the &ldquo;Silaner Securities&rdquo;). Subsequent to the closing of the February
2017 private placement, Globus repaid the outstanding amount on the Silaner Credit Facility in its entirety.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Warrants, the Firment
Warrant and the Silaner Warrant are each exercisable for 24 months after their respective issuance. We refer to the entry into
the Loan Amendment Agreements and Registration Rights Agreements and the issuances of the 5 million common shares, the Warrants,
Firment Securities, and the Silaner Securities as the &ldquo;February 2017 Transactions.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In this Registration
Statement, we are registering for resale (a) 4 million common shares sold in the Private Placement, (b) the 25 million common
shares issuable upon exercise of the Warrants, and (c) 7,380,017 common shares issuable upon exercise of the Firment Warrant and
Silaner Warrant. As of the date hereof, none of the warrants have been exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Under the terms of the
warrants, all Selling Shareholders (other than Firment Shipping Inc., which has no such restriction in its warrants) may not exercise
their warrants to the extent such exercise would cause such Selling Shareholder, together with its affiliates and attribution
parties, to beneficially own a number of common shares which would exceed 4.99% (which may be increased upon no less than 61 days&rsquo;
notice, but not to exceed 9.99%) of our then outstanding common shares immediately following such exercise, excluding for purposes
of such determination common shares issuable upon exercise of the warrants which have not been exercised. This provision does
not limit a Selling Shareholder from acquiring up to 4.99% of our common shares, selling all of their common shares, and re-acquiring
up to 4.99% of our common shares. We refer to this as the &ldquo;Blocker Provision&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Warrants, Firment
Warrant, and Silaner Warrant all contain a provision whereby the warrant&rsquo;s holder has the right to a cashless exercise if,
six months after their issuance, a registration statement covering their resale is not effective. If for any reason we are unable
to keep such a registration statement active and our share price is higher than the $1.60 exercise price, we could be required
to issue shares without receiving cash consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In March 2017, we reached
an agreement in principle with DVB Bank SE (which remain subject to definite documentation) to amend the DVB Loan Agreement, including
amendments to relax or waive certain covenants for the period from April 1, 2017 to April 1, 2018 (the &ldquo;Restructuring period&rdquo;).
The amendments with respect to the Restructuring Period will be subject to a $1.7 million prepayment by September 2017, which
is the aggregated amount of two quarterly installments for each tranche, and another $1.7 million would be deferred to the balloon
payment of each tranche.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In March 2017, we reached
an agreement in principle with HSH Nordbank AG to amend the HSH Loan Agreement (which remain subject to definite documentation)
including amendments to relax or waive certain covenants of the original loan agreement until April 15, 2018. The Company will
pay in September 2017 $1 million for repayment of debt and the four scheduled principal installments due within 2017, each amounting
to $693,595, will be deferred to the balloon payment. In addition, the Company has undertaken the liability to raise new equity
of at least $1,800,000.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The Offering</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Our selling shareholders
named in the table located on page 7 of this prospectus (the &ldquo;Selling Shareholders&rdquo;) are offering an aggregate of
36,380,017 common shares, 4 million of which are currently issued and outstanding and 32,380,017 of which are issuable upon the
exercise of currently outstanding warrants, subject to the terms and limitations contained within the Warrants. See &ldquo;Description
of Capital Stock - Description of the Warrants&rdquo; on page 10 of this prospectus.&nbsp;&nbsp;We will not receive any proceeds
upon the sale of common shares by the Selling Shareholders, but we will receive the exercise price of $1.60 each time a Warrant
is exercised for cash.&nbsp;&nbsp;See &ldquo;Use of Proceeds&rdquo; on page 5 of this prospectus.&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_006"></A>RISK FACTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Investing in our common
shares involves a high degree of risk. You should carefully consider the risks set forth below and the discussion of risks under
the heading &ldquo;Item 3. Key Information&mdash;D. Risk Factors&rdquo; in our Annual Report on Form 20-F for the year ended December&nbsp;31,
2016, filed with the Commission on April 11, 2017, and the other documents that are incorporated by reference in this prospectus.
Please see the section of this prospectus entitled &ldquo;Incorporation by Reference of Certain Documents.&rdquo; Any of the following
risks could materially and adversely affect our business, financial condition, results of operations or cash flows. In such a
case, you may lose all or part of your original investment.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">Risks Related to this Offering</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our shareholders were significantly diluted
by virtue of the February 2017 transactions and it is unclear whether the full ramification of those transactions have been reflected
in our stock price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">As described above under
the caption &ldquo;Recent and Other Developments&rdquo;, in February 2017 we issued in the aggregate 25 million common shares
and warrants to issue an additional 32,380,017 common shares in exchange for $20 million of debt cancellation and $5 million in
cash. Prior to such issuance, a total of 2,627,674 common shares were issued and outstanding. Our share price has not proportionately
decreased to reflect the additional number of common shares that are issued and issuable pursuant to exercise of the Warrants,
and it remains to be seen how the market will perceive this change in our increased number of shares. If the market views these
transactions negatively, our share price could substantially depreciate.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Our stock price has been volatile and no assurance can be
made that it will not substantially depreciate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">As you can see from
our stock price history contained within this prospectus under the caption &ldquo;Per Share Market Information&rdquo;, our
stock price has been volatile recently. The closing price of our common shares within the past 18 months has ranged from a
low of $0.30 on January 29, 2016 to a peak of $14.23 on November 16, 2016. Adjusting for the 4:1 stock split we effected on
October 20, 2016, this represents a 1085% increase from January 29, 2016. Our opening stock price as of April 12, 2017 was
$3.27. We can offer no comfort or assurance that our stock price will stop being volatile or not substantially
depreciate.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Our existing shareholders will be diluted each time our outstanding
warrants are exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">As of April 12, 2017,
our warrant holders had the right to purchase an aggregate of 32,380,017 common shares. The number of common shares issuable upon
exercise and price of exercise are subject to adjustment as more fully described in &ldquo;Description of Capital Stock - Description
of the Warrants&rdquo;. We expect the exercise of such outstanding warrants to dilute the value of our shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">A substantial number
of common shares are being offered by this prospectus, and we cannot predict if and when the purchasers may sell such shares in
the public markets. Furthermore, in the future, we may issue additional common shares or other equity or debt securities convertible
into common shares in connection with a financing, acquisition, litigation settlement, employee arrangements, or otherwise. Any
such issuance could result in substantial dilution to our existing shareholders and could cause our stock price to decline.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The sale of a substantial amount of our
common shares, including resale of the common shares issuable upon the exercise of the Warrants held by the Selling Shareholders,
in the public market could adversely affect the prevailing market price of our common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Selling Stockholders
hold outstanding warrants to purchase an aggregate of 32,380,017 common shares at an exercise price of $1.60 per share and 4 million
shares. Both the number of common shares issuable upon exercise of the warrants and the exercise price are subject to adjustment
as more fully described in &ldquo;Description of Capital Stock - Description of the Warrants&rdquo;. Sales of substantial amounts
of our common shares in the public market, or the perception that such sales might occur, could adversely affect the market price
of our common shares, and the market value of our other securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">A substantial number
of common shares are being offered by this prospectus, and we cannot predict if and when the Selling Shareholders may sell such
shares in the public markets. Furthermore, in the future, we may issue additional common shares or other equity or debt securities
convertible into common shares in connection with a financing, acquisition, litigation settlement, employee arrangements, or otherwise.
Any such issuance could result in substantial dilution to our existing shareholders and could cause our stock price to decline.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain shareholders hold registration
rights, which may have an adverse effect on the market price of our common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In connection with the
February 8, 2017 transactions, we issued to Firment Shipping Inc. 20 million common shares and warrants to purchase 7,380,017
common shares. Firment Shipping Inc. has the right to register those common shares for resale pursuant to a registration rights
agreement we entered into with its affiliate, Firment Trading Limited. The resale of those common shares in addition to the offer
and sale of the other securities included in this registration statement and prospectus may have an adverse effect on the market
price of our common shares.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our warrants could have cashless exercise
at our expense if, six months after the warrants were issued, the underlying common shares issuable upon exercise of the warrants
are not registered for sale pursuant to an effective registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Warrants, Firment
Warrant, and Silaner Warrant all contain a provision whereby the warrant&rsquo;s holder has the right to a cashless exercise if,
six months after their issuance, a registration statement covering their resale is not effective. If for any reason we are unable
to keep such a registration statement active and our share price is higher than the $1.60 exercise price, we could be required
to issue shares without receiving cash consideration. As 32,380,017 common shares are issuable upon exercise of the warrants,
this could mean that we issue all such shares but do not receive $51,808,027.20 (which is the $1.60 exercise price multiplied
by 32,380,017), which would dilute our shareholders and likely decrease our share price.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If we are unable to deliver common shares
free of restrictive legends where required by the Share Purchase Agreement and the warrants, we must make whole any purchaser
who loses money by purchasing common shares on the market to complete a trade.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The warrants and SPA
require us, within the later of (a) five full trading days of the exercise of a warrant and (b) three full trading days after
receipt of the purchase price for such exercised warrants, to issue common shares, which, where called for in the warrants and
the SPA, must be free of restrictive legends. We are similarly obligated, where called for pursuant to the terms of the SPA, to
remove restrictive legends from 4 million common shares issued to purchasers in the February 2017 Transactions that are being
registered in this prospectus. If we are unable to deliver proof that the above has occurred when required and if a warrant or
shareholder has traded the common shares that we have failed to deliver unlegended, penalty provisions of the SPA and warrants
require us to make whole any warrant holder or shareholder who loses money by purchasing shares on the common market to complete
its trade. Depending on our share price during this time and the number of shares to which the payments relate, we could be required
to pay a substantial sum.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_009"></A>USE OF PROCEEDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">This prospectus registers
for resale 36,380,017 common shares, of which:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">4
                                         million have already been issued to the Selling Shareholders, and we will not receive
                                         any proceeds from sales of common shares by the Selling Shareholders.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">Up
                                         to 32,380,017 million are issuable upon the exercise of warrants (upon the conditions
                                         further described in &ldquo;Description of Capital Stock - Description of the Warrants&rdquo;).
                                         We will receive $1.60 each time a warrant is exercised (up to a total of approximately
                                         $51.8 million), but we will not receive any proceeds from the sales of these common shares
                                         by the Selling Shareholders.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">We intend to use any
proceeds received from the exercise of the warrants for working capital and general corporate purposes. We will incur all costs
associated with this registration statement and prospectus (other than underwriting discounts and commissions and any transfer
taxes), which we anticipate to be approximately $50,000.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_010"></A>PER SHARE MARKET PRICE INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Since April 11, 2016
our common shares have traded on the Nasdaq Capital Market under the symbol &ldquo;GLBS&rdquo;. Prior to April 11, 2016, our common
shares traded on the Nasdaq Global Select Market. You should carefully review the high and low prices of our common shares in
the tables for the months, quarters and years indicated under the heading Item&nbsp;9. &ldquo;The Offer and Listing&rdquo; in
our annual report on Form 20-F for the year ended December&nbsp;31, 2016, which is incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">On October 20, 2016,
we effected a four to one reverse stock split which reduced number of outstanding common shares from 10,510,741 to 2,627,674 shares
(adjustments were made based on fractional shares). The share prices below have been adjusted to reflect the stock split.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The table below sets
forth the high and low prices for each of the periods indicated for our common shares as reported, from April 11, 2016 onwards,
by the NASDAQ Capital Market, and prior to April 11, 2016, from the Nasdaq Global Select Market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="font-weight: bold; text-align: justify">Period Ended</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">High</TD><TD STYLE="font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">Low</TD><TD STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD><TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">Monthly</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; text-align: justify">April 2017<B> </B>(through and including April 12, 2017)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">4.96</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">3.05</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">March 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.74</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4.32</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">February 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9.70</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7.10</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">January 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10.77</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.07</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">December 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7.67</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4.08</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">November 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14.23</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.74</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">October 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">2.84</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.66</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: justify">Quarterly</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">First Quarter 2017</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10.77</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.07</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Fourth Quarter 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">14.23</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.66</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Third Quarter 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.28</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.64</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Second Quarter 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5.16</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">1.00</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">First Quarter 2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.88</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.24</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Fourth Quarter 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.96</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.60</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Third Quarter 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.32</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">3.88</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Second Quarter 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7.60</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4.56</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">First Quarter 2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10.16</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">4.80</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: justify">Yearly</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">2016</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">7.09</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.20</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">2015</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10.16</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">0.60</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">2014</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">17.76</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">8.88</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">2013</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">16.84</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6.80</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">2012</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">23.08</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">5.92</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_011"></A>CAPITALIZATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The following table sets
forth our capitalization table as of December 31, 2016, on</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">An
                                         actual basis; and</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0pt"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">An                                          as Adjusted basis, as of February 9, 2017, to
                                                                                                                                 give effect to the completion of the February                                          2017 Transactions. In the February
                                                                                                                                 2017 Transactions, an aggregate of 5 million common                                          shares and warrants to purchase
                                                                                                                                 25 million common shares were issued to purchasers for                                          a total of $5 million, and
                                                                                                                                 20
                                                                                                                                 million common shares and warrants to purchase 7,380,017                                          common shares were issued
                                                                                                                                 to Firment Shipping Inc., an affiliate of two of our lenders                                          (each of which is a
                                                                                                                                 related party to us) in exchange for an aggregate of $20 million                                          in debt
                                                                                                                                 cancellation (an amount of $0.55 million of outstanding debt as of December 31, 2016 was settled in cash). We have assumed no
                                                                                                                                 exercise of
                                                                                                                                 the
                                                                                                                                 warrants
                                                                                                                                 in
                                                                                                                                 the
                                                                                                                                 adjusted
                                                                                                                                 figures                                          below.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 90%; font: 10pt Times New Roman, Times, Serif; margin-left: 24.5pt">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As&nbsp;of&nbsp;Dec 31,
    2016</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">Actual</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center; border-bottom: Black 1pt solid">As&nbsp;Adjusted</TD><TD NOWRAP STYLE="padding-bottom: 1pt; font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP>&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="6" NOWRAP STYLE="font-weight: bold; text-align: center">(dollars&nbsp;in&nbsp;thousands&nbsp;except<BR> per share
    and share data)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-indent: -12pt; padding-left: 12pt">Capitalization:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="width: 74%; font-weight: bold; text-align: left; text-indent: -12pt; padding-left: 12pt; padding-bottom: 1pt"><B>Total debt (including
    current portion)</B></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid"><B>$</B></TD><TD STYLE="width: 10%; text-align: right; border-bottom: Black 1pt solid"><B>65,572</B></TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 1pt"><B>&nbsp;</B></TD><TD STYLE="width: 1%; padding-bottom: 1pt"><B>&nbsp;</B></TD>
    <TD STYLE="width: 1%; text-align: left; border-bottom: Black 1pt solid"><B>$</B></TD><TD STYLE="width: 10%; text-align: right; border-bottom: Black 1pt solid"><B>45,022</B></TD><TD STYLE="width: 1%; text-align: left; padding-bottom: 1pt"><B>&nbsp;</B></TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -12pt; padding-left: 12pt">Preferred shares, $0.001 par value; 100,000,000 shares authorized, none
    issued, actual&nbsp;and as adjusted</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&mdash;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -12pt; padding-left: 12pt">Common shares, $0.004 par value; 500,000,000 shares authorized,
    2,627,674 shares issued and outstanding actual, 27,627,674 shares issued and outstanding as&nbsp;adjusted (assuming no exercise
    of the warrants)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">10</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">111</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -12pt; padding-left: 12pt">Additional paid-in capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">110,004</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">134,903</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -12pt; padding-left: 12pt; padding-bottom: 1pt">Accumulated deficit</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(89,254</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD><TD STYLE="padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="text-align: right; border-bottom: Black 1pt solid">(89,254</TD><TD STYLE="text-align: left; padding-bottom: 1pt">)</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -12pt; padding-left: 12pt; padding-bottom: 1pt">Total shareholders&rsquo; equity</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">20,760</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 1pt solid">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 1pt solid">45,760</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -12pt; padding-left: 12pt; padding-bottom: 2.5pt">Total capitalization</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">86,332</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 2.5pt">&nbsp;</TD>
    <TD STYLE="font-weight: bold; text-align: left; border-bottom: Black 2.5pt double">$</TD><TD STYLE="font-weight: bold; text-align: right; border-bottom: Black 2.5pt double">90,782</TD><TD STYLE="font-weight: bold; text-align: left; padding-bottom: 2.5pt">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Other than the adjustments
described above, there have been no significant adjustments to our capitalization since December 31, 2016. This table should be
read in conjunction with the consolidated financial statements and related notes included in our annual report for the year ended
December&nbsp;31, 2016, on Form 20-F filed with the Commission on April 11, 2017 and incorporated by reference herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><A NAME="a_012"></A>SELLING SHAREHOLDERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Based solely upon information
furnished to us by the Selling Shareholders, the following table sets forth information with respect to the beneficial ownership
of our common shares held as of the date of this prospectus (or to be held, as noted below) by the Selling Shareholders. The Selling
Shareholders are offering an aggregate of up to 36,380,017 of our common shares, 4 million of which are outstanding and 32,380,017
of which may be issued upon exercise of warrants that were acquired in private transactions. The Selling Shareholders may sell
some, all or none of their shares covered by this prospectus. The Selling Shareholders may also transfer their warrants. We may
update this table by filing a prospectus supplement in the event the Selling Shareholders transfer their warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Under the terms of the
warrants, all Selling Shareholders (other than Firment Shipping Inc., which has no such restriction in its warrants) may not exercise
their warrants to the extent such exercise would cause such Selling Shareholder, together with its affiliates and attribution
parties, to beneficially own a number of common shares which would exceed 4.99% (which may be increased upon no less than 61 days&rsquo;
notice, but not to exceed 9.99%) of our then outstanding common shares following such exercise, excluding for purposes of such
determination common shares issuable upon exercise of the warrants which have not been exercised. We refer to this as the &ldquo;Blocker
Provision&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Blocker Provision
does not limit a Selling Shareholder from acquiring up to 4.99% of our common shares, selling all of their common shares, and
re-acquiring up to 4.99% of our common shares. Until the warrants expire or the selling shareholders each exercise and sell all
of their common shares, the calculation of the number of common shares issuable to any Selling Shareholder at any given point
in time will change based upon the total number of common shares outstanding. Accordingly, the table below assumes that the Blocker
Provision does not exist, with the effect that beneficial ownership of the Selling Shareholders is presented (for purposes of
disclosure in this prospectus only) on a fully as exercised basis:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom">
    <TD NOWRAP STYLE="font-weight: bold">Selling Shareholders</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Common<BR> Shares<BR> Prior to the<BR> &nbsp;Offering(1)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Percentage<BR> of Class<BR> (2)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Total<BR> Common<BR> Shares<BR> Offered<BR> Hereby</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD>
    <TD COLSPAN="2" NOWRAP STYLE="font-weight: bold; text-align: center">Percentage<BR> of the<BR> Class<BR> Following<BR> the<BR>
    Offering&nbsp;(3)</TD><TD NOWRAP STYLE="font-weight: bold">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 48%; text-align: left; text-indent: -12pt; padding-left: 12pt">Xanthe Holdings Ltd. (4)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">5,750,000</TD><TD STYLE="width: 1%; text-align: left">(5)</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">17.2</TD><TD STYLE="width: 1%; text-align: left">%</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">5,750,000</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">&nbsp;</TD><TD STYLE="width: 10%; text-align: right">0</TD><TD STYLE="width: 1%; text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -12pt; padding-left: 12pt">JTT Investments Ltd. (6)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,750,000</TD><TD STYLE="text-align: left">(7)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">20.3</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,750,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -12pt; padding-left: 12pt">Aizac Investment Corp. (8)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,000,000</TD><TD STYLE="text-align: left">(9)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">18.4</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">6,000,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -12pt; padding-left: 12pt">Robelle Holding Co. (10)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,500,000</TD><TD STYLE="text-align: left">(11)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">28.9</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">10,500,000</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">%</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -12pt; padding-left: 12pt">Firment Shipping Inc. (12)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,380,017</TD><TD STYLE="text-align: left">(13)</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">78.2</TD><TD STYLE="text-align: left">%</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">7,380,017</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">57.1</TD><TD STYLE="text-align: left">%</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(1)</TD><TD>These figures assume full exercise of each Selling Shareholder&rsquo;s
                                         warrants (as though the Blocker Provisions were not in effect).</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(2)</TD><TD>These percentages assume full exercise of each Selling Shareholder&rsquo;s
                                         warrants (as though the Blocker Provisions did not exist) and without exercise of any
                                         other Selling Shareholder&rsquo;s warrants.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(3)</TD><TD>Assumes that the Selling Shareholder sells all of its common shares
                                         offered hereby.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(4)</TD><TD>Xanthe Holdings Ltd. is a British Virgin Islands company with
                                         address at c/o Palm Grove House, P.O. Box 438, Road Town, Tortola, British Virgin Islands.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(5)</TD><TD>These 5,750,000 common shares consist of (a) 125,000 common shares
                                         currently issued and (b) 5,625,000 common shares issuable upon exercise of the Selling
                                         Shareholder&rsquo;s warrant, and assumes that the Blocker Provisions are not in effect.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(6)</TD><TD>JTT Investments Ltd. is a British Virgin Islands company with
                                         address at JTT Investments Ltd., Craigmuir Chambers, P.O. Box 71, Road Town, Tortola,
                                         VG1110, British Virgin Islands.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(7)</TD><TD>These 6,750,000 common shares consist of (a) 1,125,000 common
                                         shares currently issued and (b) 5,625,000 common shares issuable upon exercise of the
                                         Selling Shareholder&rsquo;s warrant, and assumes that the Blocker Provisions are not
                                         in effect. On April 10, 2017, JTT Investments Ltd. started the process to transfer 300,000 of its issued common shares, but such transfer
has not yet completed. These 300,000 common shares remain subject to this prospectus unless and until the trade is completed.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(8)</TD><TD>Aizac Investment Corp. is a Marshall Islands corporation with
                                         address at Aizac Investment Corp., 10 Skouze Street, 18536, Piraeus, Greece.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(9)</TD><TD>These 6,000,000 common shares consist of (a) 1,000,000 common
                                         shares currently issued and (b) 5,000,000 common shares issuable upon exercise of the
                                         Selling Shareholder&rsquo;s warrant, and assumes that the Blocker Provisions are not
                                         in effect.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(10)</TD><TD>Robelle Holding Co. is a Marshall Islands corporation beneficially
                                         owned by Konstantina Feidaki with address at Pallazo Tukelan, Riva Antonio Caccia 3,
                                         6900 Lugano, Switzerland.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(11)</TD><TD>These 10,500,000 common shares consist of (a) 1,750,000 common
                                         shares currently issued and (b) 8,750,000 common shares issuable upon exercise of the
                                         Selling Shareholder&rsquo;s warrant, and assumes that the Blocker Provisions are not
                                         in effect.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(12)</TD><TD>Firment Shipping Inc. is a Marshall Islands corporation with
                                         address at 17 Ifigenias street, 2007 Strovolos, Nicosia, Cyprus. Firment Shipping Inc.
                                         is our majority shareholder and is 100% owned by our Chairman Georgios Feidakis. Georgios
                                         Feidakis is the father of our Chief Executive Officer Athanasios Feidakis. The 27,380,017
                                         figure does not include an additional 1,141,517 common shares that Georgios Feidakis
                                         is deemed to own through his control of Firment Trading Limited.</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in">(13)</TD><TD>These 27,380,017 common shares consist of 20,000,000 common shares
                                         and 7,380,017 common shares issuable upon exercise of the Firment Warrant and Silaner
                                         Warrant. The only shares being registered in this prospectus are the 7,380,017 common
                                         shares issuable upon exercise of the Firment Warrant and Silaner Warrant. The Firment
                                         Warrant and Silaner Warrant do not contain the Blocker Provision.</TD></TR></TABLE>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_013"></A>PLAN OF DISTRIBUTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Selling Shareholders
may sell our common shares through underwriters, through agents, to dealers, in private transactions, at market prices prevailing
at the time of sale, at prices related to the prevailing market prices, or at negotiated prices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In addition, the Selling
Shareholders may sell our common shares included in this prospectus through:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">a
                                         block trade in which a broker-dealer may resell a portion of the block, as principal,
                                         in order to facilitate the transaction;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">purchases
                                         by a broker-dealer, as principal, and resale by the broker-dealer for its account;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<P STYLE="margin-top: 0; margin-bottom: 0"></P>

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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">ordinary
                                         brokerage transactions and transactions in which a broker solicits purchasers; or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">trading
                                         plans entered into by the Selling Shareholders pursuant to Rule 10b5-1 under the Securities
                                         Exchange Act of 1934, as amended, or the Exchange Act, that are in place at the time
                                         of an offering pursuant to this prospectus and any applicable prospectus supplement hereto
                                         that provide for periodic sales of their securities on the basis of parameters described
                                         in such trading plans.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In addition, the Selling
Shareholders may enter into option or other types of transactions that require us or them to deliver our securities to a broker-dealer,
who will then resell or transfer the securities under this prospectus. The Selling Shareholders may enter into hedging transactions
with respect to our securities. For example, any Selling Shareholder may:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">enter
                                         into transactions involving short sales of our common shares by broker-dealers;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">sell
                                         common shares short and deliver the shares to close out short positions;</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">enter
                                         into option or other types of transactions that require the Selling Shareholders to deliver
                                         common shares to a broker-dealer, who will then resell or transfer the common shares
                                         under this prospectus; or</TD></TR></TABLE>

<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Symbol">&middot;</FONT></TD><TD STYLE="text-align: justify">loan
                                         or pledge the common shares to a broker-dealer, who may sell the loaned shares or, in
                                         the event of default, sell the pledged shares.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Selling Shareholders
may also sell shares under Rule 144 under the Securities Act, if available, rather than under this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Selling Shareholders
may enter into derivative transactions with third parties, or sell securities not covered by this prospectus to third parties
in privately negotiated transactions. If the applicable prospectus supplement indicates, in connection with those derivatives,
the third parties may sell securities covered by this prospectus and the applicable prospectus supplement, including in short
sale transactions. If so, the third party may use securities pledged by the Selling Shareholders or borrowed from the Selling
Shareholders or others to settle those sales or to close out any related open borrowings of stock, and may use securities received
from the Selling Shareholders in settlement of those derivatives to close out any related open borrowings of stock. The third
party in such sale transactions will be an underwriter and will be identified in the applicable prospectus supplement (or a post-effective
amendment). In addition, the Selling Shareholders may otherwise loan or pledge securities to a financial institution or other
third party that in turn may sell the securities short using this prospectus. Such financial institution or other third party
may transfer its economic short position to investors in our securities or in connection with a concurrent offering of other securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Selling Shareholders
and any broker-dealers or other persons acting on our behalf or on the behalf of the Selling Shareholders that participate with
the Selling Shareholders in the distribution of the securities may be deemed to be underwriters and any commissions received or
profit realized by them on the resale of the securities may be deemed to be underwriting discounts and commissions under the Securities
Act of 1933, as amended, or the Securities Act. As a result, we have informed the Selling Shareholders, that Regulation M, promulgated
under the Exchange Act, may apply to sales by the Selling Shareholders in the market. The Selling Shareholders may agree to indemnify
any broker, dealer or agent that participates in transactions involving the sale of our common shares against certain liabilities,
including liabilities arising under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">At the time that any
particular offering of securities is made, to the extent required by the Securities Act, a prospectus supplement will be distributed,
setting forth the terms of the offering, including the aggregate number of securities being offered, the purchase price of the
securities, the initial offering price of the securities, the names of any underwriters, dealers or agents, any discounts, commissions
and other items constituting compensation from us and any discounts, commissions or concessions allowed or re-allowed or paid
to dealers. Furthermore, the Selling Shareholders may agree, subject to certain exemptions, that for a certain period from the
date of the prospectus supplement under which the securities are offered, they will not, without the prior written consent of
an underwriter, offer, sell, contract to sell, pledge or otherwise dispose of any of our common shares or any securities convertible
into or exchangeable for our common shares. However, an underwriter, in its sole discretion, may release any of the securities
subject to these lock-up agreements at any time without notice. We expect an underwriter to exclude from these lock-up agreements
securities exercised and/or sold pursuant to trading plans entered into by any Selling Shareholders pursuant to Rule 10b5-1 under
the Exchange Act, that are in place at the time of an offering pursuant to this prospectus and any applicable prospectus supplement
hereto that provide for periodic sales of the Selling Shareholders&rsquo; securities on the basis of parameters described in such
trading plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Underwriters or agents
could make sales in privately negotiated transactions and/or any other method permitted by law, including sales deemed to be an
at-the-market offering as defined in Rule 415 promulgated under the Securities Act, which includes sales made directly on or through
the Nasdaq Capital Market, the existing trading market for our common shares, or sales made to or through a market maker other
than on an exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">As a result of requirements
of the Financial Industry Regulatory Authority, or FINRA, formerly the National Association of Securities Dealers, Inc., the maximum
commission or discount to be received by any FINRA member or independent broker/dealer may not be greater than eight percent (8%)&nbsp;of
the gross proceeds received by the Selling Shareholders for the sale of any securities being registered pursuant to Rule 415 promulgated
by the Commission under the Securities Act. If more than 5% of the net proceeds of any offering of common shares made under this
prospectus will be received by a FINRA member participating in the offering or affiliates or associated persons of such a FINRA
member, the offering will be conducted in accordance with FINRA Rule&nbsp;5121.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Each Selling Shareholder
represented and warranted to us that it acquired the securities subject to this registration statement with no intent to distribute
the securities.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_014"></A>DESCRIPTION OF CAPITAL STOCK</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">We refer you to &ldquo;Item
10. Additional Information B. Memorandum and Articles of Association&rdquo; contained within our Annual Report on Form 20-F for
the year ended December 31, 2016, which was filed on April 11, 2017 and is incorporated by reference into this prospectus, for
the description of our capital stock.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Transfer Agent</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">The registrar and transfer agent for our common
shares is Computershare Inc.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Share History</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><I>February 2017 Transaction</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">On February 8, 2017,
we entered into the SPA pursuant to which we sold for $5 million an aggregate of 5 million of our common shares, par value $0.004
per share and Warrants to purchase 25 million of our common shares at a price of $1.60 per share (subject to adjustment as more
fully described herein in &ldquo;Description of Capital Stock - Description of the Warrants&rdquo;) to a number of investors in
a private placement. These securities were issued in transactions exempt from registration under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">On February 9, 2017 we
entered into a registration rights agreement with the Purchasers providing them with certain rights relating to registration under
the Securities Act of the Shares and the common shares underlying the Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In connection with the
closing of the private placement, we also entered into two Loan Amendment Agreements with two lenders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">One loan amendment agreement
was entered into by the Company with Firment, a related party to us (it is an affiliate of our chairman), and the lender of the
outstanding loan in the principal amount of $18,523,787 to the Company, pursuant to which Firment released an amount equal to
$16,885,000 (but to have an amount equal to $1,638,787 remain outstanding, and to continue to accrue under the Firment Credit
Facility as though it were principal) of the Firment Credit Facility and the Company issued to Firment Shipping Inc., an affiliate
of Firment 16,885,000 common shares and a warrant to purchase 6,230,580 common shares at a price of $1.60 per share (subject to
adjustment as more fully described herein in &ldquo;Description of Capital Stock - Description of the Warrants&rdquo;). Subsequent
to the closing of the February 2017 private placement, Globus repaid the outstanding amount on the Firment Credit Facility in
its entirety.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The other loan amendment
agreement was entered into by the Company with Silaner, a related party to us (it is an affiliate of our chairman), and the lender
of the outstanding loan in the principal amount of $3,189,048 to the Company, pursuant to which Silaner agreed to release an amount
equal to the outstanding principal of $3,115,000 (but to have an amount equal to the accrued and unpaid interest of $74,048 remain
outstanding, and to continue to accrue under the Silaner Credit Facility as though it were principal) of the Silaner Credit Facility
and the Company issued to Firment Shipping Inc., an affiliate of Silaner 3,115,000 common shares and a warrant to purchase 1,149,437
common shares at a price of $1.60 per share (subject to adjustment as more fully described herein in &ldquo;Description of Capital
Stock - Description of the Warrants&rdquo;). Subsequent to the closing of the February 2017 private placement, Globus repaid the
outstanding amount on the Silaner Credit Facility in its entirety.</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Warrants, the Firment
Warrant and the Silaner Warrant are each exercisable for 24 months after their respective issuance. We refer to the entry into
the Loan Amendment Agreements and Registration Rights Agreements and the issuances of the 5 million common shares, the Warrants,
Firment Securities, and the Silaner Securities as the &ldquo;February 2017 Transactions&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In this Registration
Statement, we are registering for resale (a) 4 million common shares sold in the Private Placement, (b) the 25 million common
shares issuable upon exercise of the Warrants, and (c) 7,380,017 common shares issuable upon exercise of the Firment Warrant and
Silaner Warrant. As of the date hereof, none of the warrants have been exercised.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">On October 20, 2016,
we effected a four to one reverse stock split which reduced number of outstanding common shares from 10,510,741 to approximately
2,627,674 shares (adjustments were made based on fractional shares).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In March 2016, as part
of a settlement with one our lenders, outstanding indebtedness of $15.65 million was released in exchange for $6.86 million of
sale proceeds from the sale of the shares of Kelty Marine Ltd. (the owner of <I>m/v Energy Globe)</I> plus overdue interest of
$40,708.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">In May 2015, the Company
entered into a Memorandum of Agreement for the sale of <I>m/v</I> <I>Tiara Globe</I> for a sale price of $5.5 million. The book
value of the <I>m/v</I> <I>Tiara Globe</I> as of March 31, 2015 was $13.3 million. The <I>m/v</I> <I>Tiara Globe</I> was delivered
on July 10, 2015, and caused the weighted average age of the fleet to be reduced by 1.7 years. Of the $5.3 million in net proceeds
for the <I>m/v</I> <I>Tiara Globe,</I> approximately $5.0 million were used to pay down existing debt and $0.3 million were used
for general corporate purposes.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0"><I>Description of the Warrants</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Warrants underlying
25 million of the common shares being registered in this prospectus were issued on February 9, 2017 and have an exercise price
of $1.60 per share. Both the number of shares issuable and the exercise price are subject to adjustments under customary conditions
including share dividends and stock splits, as provided under the terms of the Warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Under the terms of the
Warrants issued pursuant to the SPA, a Selling Shareholder may not exercise the Warrants to the extent such exercise would cause
such Selling Shareholder, together with its affiliates and attribution parties, to beneficially own a number of our common shares
which would exceed 4.99% (which may be increased upon no less than 61 days&rsquo; notice, but not to exceed 9.99%) of our then
outstanding common shares following such exercise, excluding for purposes of such determination common shares issuable upon exercise
of the Warrants which have not been exercised. This provision does not limit a Selling Shareholder from acquiring up to 4.99%
of our common shares, selling all of their common shares, and re-acquiring up to 4.99% of our common shares. We refer to this
as the &ldquo;Blocker Provisions&rdquo;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Warrants were immediately
exercisable upon their issuance and will expire two years after their issuance (February 9, 2019).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Firment Warrant and
Silaner Warrant, both of which are held by Firment Shipping Inc., together grant Firment Shipping Inc. the right to purchase 7,380,017
common shares at an exercise price of $1.60 per share. Both the number of shares issuable and the exercise price are subject to
adjustments under customary conditions including share dividends and stock splits, as provided under the terms of the Firment
Warrant and Silaner Warrant. The Firment Warrant and Silaner Warrant were immediately exercisable upon their issuance and will
expire two years after their issuance (February 8, 2019). The Firment Warrant and Silaner Warrant contain substantially similar
provisions as the Warrants, but do not contain the Blocker Provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Warrants, Firment
Warrant, and Silaner Warrant all contain a penalty provision whereby the warrant&rsquo;s holder has the right to a cashless exercise
if, six months after their issuance, a registration statement covering their resale is not effective. If for any reason we are
unable to keep such a registration statement active and our share price is higher than the $1.60 exercise price, we could be required
to issue shares without receiving cash consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The warrants and SPA
require us, within the later of (a) five full trading days of the exercise of a warrant and (b) three full trading days after
receipt of the purchase price for such exercised warrants, to issue common shares, which, where called for in the warrants and
the SPA, must be free of restrictive legends. We are similarly obligated, where called for pursuant to the terms of the SPA, to
remove restrictive legends from 4 million common shares issued to purchasers in the February 2017 Transactions being registered
for resale in this prospectus. If we are unable to deliver proof that the above has occurred when required and if a warrant or
shareholder has traded the common shares that we have failed to deliver unlegended, penalty provisions of the SPA and warrants
require us to make whole any warrant holder or shareholder who loses money by purchasing shares on the common market to complete
its trade.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Listing</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 24.5pt">Our common stock is listed on The NASDAQ Capital
Market under the symbol &ldquo;GLBS&rdquo;.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_015"></A>NON-UNITED STATES TAX CONSIDERATIONS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Marshall Islands Tax Considerations</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The following discussion
is based upon the opinion of Watson Farley&nbsp;&amp; Williams LLP and the current laws of the Republic of the Marshall Islands
and is applicable only to persons who are not citizens of and do not reside in, maintain offices in or engage in business or transactions
in the Republic of the Marshall Islands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Because we and our subsidiaries
do not, and we do not expect that we or any of our subsidiaries will, conduct business or operations in the Republic of the Marshall
Islands, and because we anticipate that all documentation related to any offerings pursuant to this prospectus will be executed
outside of the Republic of the Marshall Islands, under current Marshall Islands law holders of our common shares will not be subject
to Marshall Islands taxation or withholding on dividends. In addition, holders of our common shares will not be subject to Marshall
Islands stamp, capital gains or other taxes on the purchase, ownership or disposition of common shares, and you will not be required
by the Republic of the Marshall Islands to file a tax return relating to the shares of common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">It is the responsibility
of each shareholder to investigate the legal and tax consequences, under the laws of pertinent jurisdictions, including the Marshall
Islands, of its investment in us. Accordingly, each shareholder is urged to consult its tax counsel or other advisor with regard
to those matters. Further, it is the responsibility of each shareholder to file all state, local and non-U.S., as well as U.S.
federal, tax returns which may be required of such shareholder.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_016"></A>EXPENSES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The following are the
estimated expenses of the issuance and distribution of the securities being registered under the registration statement of which
this prospectus forms a part, all of which will be paid by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ALIGN="CENTER" STYLE="border-collapse: collapse; width: 60%; font: 10pt Times New Roman, Times, Serif">
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 87%; text-align: left; text-indent: -12pt; padding-left: 12pt">Commission registration fee</TD><TD STYLE="width: 1%">&nbsp;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 10%; text-align: right">13,788</TD><TD STYLE="width: 1%; text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -12pt; padding-left: 12pt">FINRA filing fee</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -12pt; padding-left: 12pt">Legal fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -12pt; padding-left: 12pt">Accounting fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -12pt; padding-left: 12pt">Printing and typesetting expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -12pt; padding-left: 12pt">Blue sky fees and expenses</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-indent: -12pt; padding-left: 12pt">Miscellaneous</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -12pt; padding-left: 12pt">Total</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">*</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">*To be provided by a prospectus supplement
or as an exhibit to a Report on Form 6-K that is incorporated by reference into this registration statement.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_017"></A>LEGAL MATTERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The validity of the securities
offered by this prospectus with respect to Marshall Islands law and certain other legal matters relating to United States and
Marshall Islands law will be passed upon for us by Watson Farley &amp; Williams LLP, New York, New York.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><A NAME="a_018"></A>EXPERTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The consolidated financial
statements of Globus Maritime Limited appearing in Globus Maritime Limited&rsquo;s Annual Report (Form 20-F) for the year ended
December 31, 2016, have been audited by Ernst &amp; Young (Hellas) Certified Auditors-Accountants S.A., independent registered
public accounting firm, as set forth in their report thereon, included therein, and incorporated herein by reference. Such consolidated
financial statements are incorporated herein by reference in reliance upon such report given on the authority of such firm as
experts in accounting and auditing. Ernst &amp; Young (Hellas) Certified Auditors-Accountants S.A. is located at Chimarras
8B, 15125, Maroussi, Greece and is registered as a corporate body with the public register for company auditors-accountants kept
with the Body of Certified-Auditors-Accountants (&quot;SOEL&quot;), Greece with registration number 107.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Part II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Information Not Required in the Prospectus</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Item&nbsp;8. Indemnification of Directors and Officers.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Indemnification of Directors and Officers and Limitation of
Liability</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The Marshall Islands
Business Corporations Act authorizes corporations to limit or eliminate the personal liability of directors and officers to corporations
and their shareholders for monetary damages for breaches of directors&rsquo; fiduciary duties other than (i) for any breach of
the director&rsquo;s duty of loyalty to the corporation or its stockholders, (ii) for acts or omissions not undertaken in good
faith or which involve intentional misconduct or a knowing violation of law; or (iii) for any transaction from which a director
derived an improper personal benefit. Our articles of incorporation include a provision that eliminates the personal liability
of directors for monetary damages for breach of fiduciary duty as a director to the fullest extent permitted by law and provides
that we must indemnify our directors and officers to the fullest extent authorized by law. We are also expressly authorized to
advance certain expenses to our directors and officers and expect to carry directors&rsquo; and officers&rsquo; insurance providing
indemnification for our directors and officers for some liabilities. We believe that these indemnification provisions and the
directors&rsquo; and officers&rsquo; insurance are useful to attract and retain qualified directors and executive officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The limitation of liability
and indemnification provisions in our articles of incorporation may discourage shareholders from bringing a lawsuit against our
directors for breach of their fiduciary duty. These provisions may also have the effect of reducing the likelihood of derivative
litigation against directors and officers, even though such an action, if successful, may otherwise benefit us and our shareholders.
In addition, an investor in our common shares may be adversely affected to the extent we pay the costs of settlement and damage
awards against directors and officers pursuant to these indemnification provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">There is no pending material
litigation or proceeding involving any of our directors, officers or employees for which indemnification is sought.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Insofar as indemnification
for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the Company, the
Company has been informed that in the opinion of the Securities and Exchange Commission such indemnification is against public
policy as expressed in the Securities Act and is therefore unenforceable.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Item&nbsp;9. Exhibits</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">The exhibit index at
the end of this registration statement identifies the exhibits which are included in this registration statement and are incorporated
herein by reference (the &ldquo;Exhibit Index&rdquo;).</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0">Item&nbsp;10. Undertakings</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(a)</TD><TD STYLE="text-align: justify">The undersigned registrant hereby undertakes:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(1)</TD><TD STYLE="text-align: justify">To file, during any period in which
                                         offers or sales are being made, a post-effective amendment to this registration statement:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">To include any prospectus required
                                         by Section&nbsp;10(a)(3) of the Securities Act of 1933;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">To reflect in the prospectus any
                                         facts or events arising after the effective date of the registration statement (or the
                                         most recent post-effective amendment thereof) which, individually or in the aggregate,
                                         represent a fundamental change in the information set forth in the registration statement.
                                         Notwithstanding the foregoing, any increase or decrease in volume of securities offered
                                         (if the total dollar value of securities offered would not exceed that which was registered)
                                         and any deviation from the low or high end of the estimated maximum offering range may
                                         be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b)
                                         if, in the aggregate, the changes in volume and price represent no more than a 20 percent
                                         change in the maximum aggregate offering price set forth in the &ldquo;Calculation of
                                         Registration Fee&rdquo; table in the effective registration statement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">To include any material information
                                         with respect to the plan of distribution not previously disclosed in the registration
                                         statement or any material change to such information in the registration statement.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Provided, however, that
paragraphs (a)(1)(i), (a)(1)(ii) and (a)(1)(iii) of this section do not apply if the registration statement is on Form F-3 and
the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or
furnished to the Commission by the registrant pursuant to section 13 or section 15(d) of the Securities Exchange Act of 1934 that
are incorporated by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule 424(b)
that is part of the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(2)</TD><TD STYLE="text-align: justify">That, for the purpose of determining
                                         any liability under the Securities Act of 1933, as amended, each such post-effective
                                         amendment shall be deemed to be a new registration statement relating to the securities
                                         offered therein, and the offering of such securities at that time shall be deemed to
                                         be the initial&nbsp;<I>bona fide</I>&nbsp;offering thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(3)</TD><TD STYLE="text-align: justify">To remove from registration by
                                         means of a post-effective amendment any of the securities being registered which remain
                                         unsold at the termination of the offering.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(4)</TD><TD STYLE="text-align: justify">To file a post-effective amendment
                                         to the registration statement to include any financial statements required by Item&nbsp;8.A.
                                         of Form 20-F at the start of any delayed offering or throughout a continuous offering.
                                         Financial statements and information otherwise required by Section&nbsp;10(a)(3) of the
                                         Act need not be furnished,&nbsp;<I>provided</I>, that the registrant includes in the
                                         prospectus, by means of a post-effective amendment, financial statements required pursuant
                                         to this paragraph (a)(4) and other information necessary to ensure that all other information
                                         in the prospectus is at least as current as the date of those financial statements. Notwithstanding
                                         the foregoing, with respect to registration statements on Form F-3, a post-effective
                                         amendment need not be filed to include financial statements and information required
                                         by Section&nbsp;10(a)(3) of the Securities Act of 1933 or Rule 3-19 of Regulation S-X
                                         if such financial statements and information are contained in periodic reports filed
                                         with or furnished to the Commission by the registrant pursuant to Section&nbsp;13 or
                                         Section&nbsp;15(d) of the Securities Exchange Act of 1934 that are incorporated by reference
                                         in the Form F-3.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(5)</TD><TD STYLE="text-align: justify">That, for the purpose of determining
                                         liability under the Securities Act of 1933 to any purchaser:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">If the registrant is relying on Rule
                                         430B:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(A)</TD><TD STYLE="text-align: justify">Each prospectus filed by the registrant
                                         pursuant to Rule 424(b)(3) shall be deemed to be part of this registration statement
                                         as of the date the filed prospectus was deemed part of and included in this registration
                                         statement; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 2in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1.5in"></TD><TD STYLE="width: 0.5in">(B)</TD><TD STYLE="text-align: justify">Each prospectus required to be
                                         filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement
                                         in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i),
                                         (vii), or (x)&nbsp;for the purpose of providing the information required by section 10(a)
                                         of the Securities Act of 1933 shall be deemed to be part of and included in the registration
                                         statement as of the earlier of the date such form of prospectus is first used after effectiveness
                                         or the date of the first contract of sale of securities in the offering described in
                                         the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any
                                         person that is at that date an underwriter, such date shall be deemed to be a new effective
                                         date of the registration statement relating to the securities in the registration statement
                                         to which that prospectus relates, and the offering of such securities at that time shall
                                         be deemed to be the initial&nbsp;<I>bona fide</I>&nbsp;offering thereof.&nbsp;<I>Provided,
                                         however,</I>&nbsp;that no statement made in a registration statement or prospectus that
                                         is part of the registration statement or made in a document incorporated or deemed incorporated
                                         by reference into the registration statement or prospectus that is part of the registration
                                         statement will, as to a purchaser with a time of contract of sale prior to such effective
                                         date, supersede or modify any statement that was made in the registration statement or
                                         prospectus that was part of the registration statement or made in any such document immediately
                                         prior to such effective date.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in">(6)</TD><TD STYLE="text-align: justify">The undersigned registrant undertakes
                                         that in a primary offering of securities of the undersigned registrant pursuant to this
                                         registration statement, regardless of the underwriting method used to sell the securities
                                         to the purchaser, if the securities are offered or sold to such purchaser by means of
                                         any of the following communications, the undersigned registrant will be a seller to the
                                         purchaser and will be considered to offer or sell such securities to such purchaser:</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">Any preliminary prospectus or prospectus
                                         of the undersigned registrant relating to the offering required to be filed pursuant
                                         to Rule 424;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">Any free writing prospectus relating
                                         to the offering prepared by or on behalf of the undersigned registrant or used or referred
                                         to by the undersigned registrant;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">The portion of any other free writing
                                         prospectus relating to the offering containing material information about the undersigned
                                         registrant or its securities provided by or on behalf of the undersigned registrant;
                                         and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 1.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">Any other communication that is
                                         an offer in the offering made by the undersigned registrant to the purchaser.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(b)</TD><TD STYLE="text-align: justify">The undersigned registrant hereby undertakes
                                         that, for purposes of determining any liability under the Securities Act of 1933, each
                                         filing of the registrant&rsquo;s Annual Report pursuant to Section&nbsp;13(a) or 15(d)
                                         of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee
                                         benefit plan&rsquo;s Annual Report pursuant to Section&nbsp;15(d) of the Securities Exchange
                                         Act of 1934) that is incorporated by reference in the registration statement shall be
                                         deemed to be a new registration statement relating to the securities offered therein,
                                         and the offering of such securities at that time shall be deemed to be the initial bona
                                         fide offering thereof.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(c)-(d)</TD><TD STYLE="text-align: justify">Not applicable.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(e)</TD><TD STYLE="text-align: justify">The undersigned registrant hereby undertakes
                                         to deliver or cause to be delivered with the prospectus, to each person to whom the prospectus
                                         is sent or given, the latest Annual Report to security holders that is incorporated by
                                         reference in the prospectus and furnished pursuant to and meeting the requirements of
                                         Rule 14a-3 or Rule 14c-3 under the Securities Exchange Act of 1934; and, where interim
                                         financial information required to be presented by Article 3 of Regulation S-X is not
                                         set forth in the prospectus, to deliver, or cause to be delivered to each person to whom
                                         the prospectus is sent or given, the latest quarterly report that is specifically incorporated
                                         by reference in the prospectus to provide such interim financial information.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(f)</TD><TD STYLE="text-align: justify">The undersigned registrant hereby undertakes
                                         to provide to the underwriter at the closing specified in the underwriting agreements
                                         certificates in such denominations and registered in such names as required by the underwriter
                                         to permit prompt delivery to each purchaser.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(g)</TD><TD STYLE="text-align: justify">Not applicable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(h)</TD><TD STYLE="text-align: justify">Insofar as indemnification for liabilities
                                         arising under the Securities Act of 1933 may be permitted to directors, officers and
                                         controlling persons of the registrant pursuant to the foregoing provisions, or otherwise,
                                         the registrant has been advised that in the opinion of the Securities and Exchange Commission
                                         such indemnification is against public policy as expressed in the Securities Act of 1933
                                         and is, therefore, unenforceable. In the event that a claim for indemnification against
                                         such liabilities (other than the payment by the registrant of expenses incurred or paid
                                         by a director, officer or controlling person of the registrant in the successful defense
                                         of any action, suit or proceeding) is asserted by such director, officer or controlling
                                         person in connection with the securities being registered, the registrant will, unless
                                         in the opinion of its counsel the matter has been settled by controlling precedent, submit
                                         to a court of appropriate jurisdiction the question whether such indemnification by it
                                         is against public policy as expressed in the Securities Act of 1933 and will be governed
                                         by the final adjudication of such issue.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in; text-align: left">(i)-(k)</TD><TD STYLE="text-align: justify">Not applicable.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><IMG SRC="pg25img1_f3.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>36,380,017
Common Shares</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>offered by
the Selling Shareholders</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>April 13, 2017</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Pursuant to the requirements
of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements
for filing on Form F-3 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto
duly authorized, in the City of Athens, Country of Greece, on April 13, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><B>GLOBUS MARITIME LIMITED</B></TD></TR>
<TR>
    <TD STYLE="vertical-align: top; width: 51%">&nbsp;</TD>
    <TD STYLE="width: 7%">&nbsp;</TD>
    <TD STYLE="width: 42%">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">By:</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: black 1pt solid">/s/&nbsp;&nbsp;&nbsp;&nbsp;Athanasios Feidakis</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Name:</TD>
    <TD STYLE="vertical-align: bottom">Athanasios Feidakis</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Title:</TD>
    <TD STYLE="vertical-align: bottom"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chief Executive Officer &amp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">Chief Financial Officer</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; text-align: center; margin-bottom: 0"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Each person whose signature
appears below appoints Athanasios Feidakis, as his true and lawful attorney-in-fact and agent, with full power of substitution
and re-substitution, for him and in his name, place and stead, in any and all capacities, to sign any and all amendments (including
post-effective amendments) to this registration statement, and to file the same, with all exhibits thereto, and all other documents
in connection therewith, with the Securities and Exchange Commission, granting unto said attorney-in-fact and agent full power
and authority to do and perform each and every act and thing requisite and necessary to be done, as fully to all intents and purposes
as he might or would do in person, hereby ratifying and confirming all that said attorney-in-fact and agent or any of his substitute
and substitutes, may lawfully do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Pursuant to the requirements
of the Securities Act of 1933, this Registration Statement has been signed below by the following persons on April 13, 2017 in
the capacities indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 49%; border-bottom: Black 1pt solid; text-align: center"><B>Signature</B></TD>
    <TD STYLE="width: 2%; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 49%; border-bottom: Black 1pt solid; text-align: center"><B>Title</B></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/&nbsp;&nbsp;&nbsp;&nbsp;Athanasios Feidakis</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Director, Chief Executive Officer (Principal Executive</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">Athanasios Feidakis</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Officer), Chief Financial Officer (Principal Financial Officer)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/&nbsp;&nbsp;&nbsp;&nbsp;Georgios Feidakis</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Director; Chairman of the Board of Directors</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">Georgios Feidakis</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/&nbsp;&nbsp;&nbsp;&nbsp;Jeffrey O. Parry</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">Jeffrey O. Parry</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1pt solid; text-align: center">/s/&nbsp;&nbsp;&nbsp;&nbsp;Ioannis Kazantzidis</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">Director</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">Ioannis Kazantzidis</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>AUTHORIZED UNITED STATES REPRESENTATIVE</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt">Pursuant to the requirement
of the Securities Act of 1933, the undersigned, the duly undersigned representative in the United States of each Registrant, has
signed this registration statement in the City of Newark, State of Delaware, on April 13, 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>PUGLISI &amp; ASSOCIATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 6%">By:</TD>
    <TD STYLE="width: 44%; border-bottom: Black 1pt solid; text-decoration: none">/s/ Donald Puglisi</TD>
    <TD STYLE="width: 50%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Name:</TD>
    <TD>Donald Puglisi</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>Title:</TD>
    <TD>Managing Director</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>Authorized Representative in the United States</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.5in">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 12pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 10%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Exhibit</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Number</B></P></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 88%; text-align: center"><B>Description</B></TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: center">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">1.1</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Underwriting Agreement (for equity securities)<SUP>+</SUP></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420410063372/v202967_ex3-1.htm">4.1</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420410063372/v202967_ex3-1.htm">Articles of Incorporation of Globus Maritime Limited (incorporated by reference to Exhibit 3.1 to Amendment No. 1 to Globus Maritime Limited&rsquo;s Registration Statement on Form F-1 (Reg. No. 333-170755) filed on November 24, 2010)</A> </TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420412024331/v310668_ex1-3.htm">4.2</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420412024331/v310668_ex1-3.htm">Certificate of Designation for Series A Preferred Stock of Globus Maritime Limited (incorporated by reference to Exhibit 1.3 to Globus Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April 27, 2012)</A> </TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417019941/v462766_ex1-4.htm">4.3</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417019941/v462766_ex1-4.htm">Articles of Amendment of Globus Maritime Limited dated October 17, 2016 (incorporated by reference to Exhibit 1.4 to Globus Maritime Limited&rsquo;s Annual Report on Form 20-F (Reg. No. 001-34985) filed on April 11, 2017)</A></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420410063372/v202967_ex3-2.htm">4.4</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420410063372/v202967_ex3-2.htm">Bylaws of Globus Maritime Limited (incorporated by reference to Exhibit 3.2 to Amendment No. 1 to Globus Maritime Limited&rsquo;s Registration Statement on Form F-1 (Reg. No. 333-170755) filed on November 24, 2010)</A> </TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-1.htm">4.5</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-1.htm">Share and Warrant Purchase Agreement dated February 8, 2017 between Globus Maritime Limited and the Purchasers listed on Schedule A thereto, incorporated by reference to Exhibit 10.1 of the Company&rsquo;s Report on Form 6-K (Reg. No. 001-170755), furnished on February 9, 2017</A> </TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-2.htm">4.6</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-2.htm">Registration Rights Agreement between Globus Maritime Limited and the Purchasers dated February 9, 2017, incorporated by reference to Exhibit 10.2 of the Company&rsquo;s Report on Form 6-K (Reg. No. 001-34985), furnished on February 9, 2017</A></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-3.htm">4.7</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-3.htm">Amendment to Loan Agreement dated February 8, 2017 between Globus Maritime Limited and Firment Trading Limited, incorporated by reference to Exhibit 10.3 of the Company&rsquo;s Report on Form 6-K (Reg. No. 001-34985), furnished on February 9, 2017</A></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-4.htm">4.8</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-4.htm">Amendment to Loan Agreement dated February 8, 2017 between Globus Maritime Limited and Silaner Investments Limited, incorporated by reference to Exhibit 10.4 of the Company&rsquo;s Report on Form 6-K (Reg. No. 001-34985), furnished on February 9, 2017</A></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-5.htm">4.9</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-5.htm">Form of Warrant issued to each Selling Shareholder other than Firment Shipping Inc., incorporated by reference to Exhibit 10.5 of the Company&rsquo;s Report on Form 6-K (Reg. No. 001-34985), furnished on February 9, 2017</A></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-6.htm">4.11</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-6.htm">Warrant dated February 8, 2017 issued to Firment Shipping Inc., incorporated by reference to Exhibit 10.6 of the Company&rsquo;s Report on Form 6-K (Reg. No. 001-34985), furnished on February 9, 2017</A></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD NOWRAP STYLE="vertical-align: top; width: 10%"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-7.htm">4.12</A></TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 88%"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-7.htm">Warrant dated February 8, 2017 issued to Firment Shipping Inc., incorporated by reference to Exhibit 10.7 of the Company&rsquo;s Report on Form 6-K (Reg. No. 001-34985), furnished on February 9, 2017</A></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-8.htm">4.13</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420417006921/v458809_ex10-8.htm">Schedule Regarding Material Differences in Issued Warrants, incorporated by reference to Exhibit 10.8 of the Company&rsquo;s Report on Form 6-K (Reg. No. 001-34985), furnished on February 9, 2017</A></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="v461933_ex5-1.htm">5.1*</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="v461933_ex5-1.htm">Opinion of Legality of Watson Farley &amp; Williams LLP, counsel to the Company as to the validity of the common shares</A></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="v461933_ex8-1.htm">8.1*</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="v461933_ex8-1.htm">Opinion of Legality of Watson Farley &amp; Williams LLP, counsel to the Company as to U.S. tax matters</A></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="v461933_ex8-2.htm">8.2*</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="v461933_ex8-2.htm">Opinion of Legality of Watson Farley &amp; Williams LLP, counsel to the Company as to Marshall Islands tax matters</A></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="v461933_ex5-1.htm">23.1</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="v461933_ex5-1.htm">Consent of Watson Farley &amp; Williams LLP (included in Exhibit 5.1)</A></TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD NOWRAP STYLE="vertical-align: top"><A HREF="v461933_ex23-2.htm">23.2*</A></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><A HREF="v461933_ex23-2.htm">Consent of Independent Registered Public Accounting Firm Ernst &amp; Young (Hellas) Certified Auditors Accountants S.A.</A></TD></TR>
</TABLE>
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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 4%">+</TD>
    <TD>To be filed either as an amendment or as an exhibit to a report filed pursuant to the Securities Exchange Act of 1934
    of the Registrant and incorporated by reference into this Registration Statement.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>*</TD>
    <TD>Filed herewith.</TD></TR>
</TABLE>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>v461933_ex5-1.htm
<DESCRIPTION>EXHIBIT 5.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 5.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="pg1img1_ex5-1.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Globus Maritime Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">128 Vouliagmenis Avenue, 3rd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">166 74 Glyfada</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Athens, Greece</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Our reference: 28510.50005/80494898v2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">April 13, 2017</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Registration Statement on Form F-3 &ndash;
Exhibit 5.1 Opinion</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Sirs:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have acted as counsel to Globus Maritime
Limited, a Marshall Islands corporation (the &ldquo;<B>Company</B>&rdquo;), in connection with the Company's registration statement
on Form F-3 (as amended or supplemented from time to time and inclusive of all exhibits, the &ldquo;<B>Registration Statement</B>&rdquo;),
relating to the registration under the U.S. Securities Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;) of the
potential resale from time to time of 36,380,017 of the Company&rsquo;s common shares, par value $0.004 per share (each, a &ldquo;<B>Common
Share</B>&rdquo;), of which:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">4,000,000 Common Shares (the &ldquo;<B>Resale Shares</B>&rdquo;) were issued on February 9, 2017
pursuant to a share and warrant purchase agreement (the &ldquo;<B>Purchase Agreement</B>&rdquo;) dated February 8, 2017, between
the Company and the purchasers signatory thereto (the &ldquo;<B>Purchasers</B>&rdquo;);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">25,000,000 Common Shares (the &ldquo;<B>Purchaser Warrant Shares</B>&rdquo;) in the aggregate are
issuable upon the exercise of warrants (the &ldquo;<B>Purchaser</B> <B>Warrants</B>&rdquo;) issued to the Purchasers on February
9, 2017 pursuant toy the Purchase Agreement; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">7,380,017 Common Shares (together with the Purchaser Warrant Shares, the &ldquo;<B>Warrant Shares</B>&rdquo;)
in the aggregate are issuable upon the exercise of two warrants (together with the Purchaser Warrants, the &ldquo;<B>Warrants</B>&rdquo;)
issued to Firment Shipping Inc., a Marshall Islands corporation, on February 8, 2017 pursuant to two loan amendment agreements
(the &ldquo;<B>Loan Amendment Agreements</B>&rdquo;) entered into on February 8, 2017 between the Company and each of (1) Firment
Trading Limited and (2) Silaner Investments Limited, each a Marshall Islands corporation.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In rendering this opinion, we have examined
originals or copies (certified or otherwise identified to our satisfaction) of the following documents:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="pg1img2_ex5-1.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="pg2img1_ex5-1.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Registration Statement and the prospectus included in the Registration Statement (as amended
from time to time, the &ldquo;<B>Prospectus</B>&rdquo;);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Purchase Agreement, Warrants, and Loan Amendment Agreements;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">the articles of incorporation and bylaws of the Company, each as amended to date; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(iv)</TD><TD STYLE="text-align: justify">such other papers, documents, agreements, certificates of public officials and certificates of
representatives of the Company, as we have deemed relevant and necessary as the basis for the opinions hereafter expressed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In such examination, we have assumed: (a)
the legal capacity of each natural person, (b) the genuineness of all signatures and the authenticity of all documents submitted
to us as originals, (c) the conformity to original documents of all documents submitted to us as conformed or photostatic copies,
(d) that the documents reviewed by us in connection with the rendering of the opinion set forth herein are true, correct, and complete,
and (e) the truthfulness of each statement as to all factual matters contained in any document or certificate encompassed within
the due diligence review undertaken by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As to matters of fact material to this
opinion that have not been independently established, we have relied upon the representations and certificates of public officials,
directors and officers of the Company and others, in each case as we have deemed relevant and appropriate, and upon the representations
and warranties of each of the parties to the Purchase Agreement and Loan Amendment Agreements. We have not independently verified
the facts so relied on.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have assumed that the Company will,
at the time of any issuance of shares of common stock pursuant to any Warrant, have a sufficient number of authorized but unissued
shares of common stock pursuant to its articles of incorporation to so issue the relevant number of shares of common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This opinion is limited to the laws of
the Republic of the Marshall Islands as in effect on the date hereof. We expressly disclaim any responsibility to advise of any
development or circumstance of any kind, including any change of law or fact that may occur after the date of this opinion letter
that might affect the opinion expressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on the foregoing, and having regard
to legal considerations which we deem relevant, and subject to the qualifications, limitations and assumptions set forth herein,
we are of the opinion that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">1.</TD><TD STYLE="text-align: justify">The Resale Shares have been duly authorized and are validly issued and nonassessable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.5in">2.</TD><TD STYLE="text-align: justify">When the Warrant Shares are issued and delivered after due exercise of the relevant Warrant and
after payment therefor has been received in accordance with the terms of the articles of incorporation and bylaws, the relevant
Warrant, the Registration Statement, and Prospectus, the Warrant Shares will be validly issued, fully paid, and nonassessable.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="pg2img1_ex5-1.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the filing of this opinion
as an exhibit to the Registration Statement, the discussion of this opinion in the Registration Statement and to the references
to our firm in the Registration Statement and the Prospectus. In giving this consent, we do not hereby admit that we are in the
category of persons whose consent is required under Section 7 of the Securities Act, or the rules and regulations promulgated thereunder,
nor do we admit that we are experts with respect to any part of the Registration Statement within the meaning of the term &ldquo;expert&rdquo;
as used in the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Watson Farley &amp; Williams LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">/s/ Watson Farley &amp; Williams LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>


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<SEQUENCE>3
<FILENAME>v461933_ex8-1.htm
<DESCRIPTION>EXHIBIT 8.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 8.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="pg1img1_ex8-1.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Globus Maritime Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">128 Vouliagmenis Avenue, 3rd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">166 74 Glyfada</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Athens, Greece</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Our reference: 28510.50005/80494897v3</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">April 13, 2017</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Registration Statement on Form F-3 &ndash;
Exhibit 8.1 Opinion</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">To Whom It May Concern:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have acted as counsel to Globus Maritime
Limited, a Marshall Islands corporation (the &ldquo;<B>Company</B>&rdquo;), in connection with the Company's registration statement
on Form F-3 (inclusive of all exhibits, the &ldquo;<B>Registration Statement</B>&rdquo;), relating to the registration under the
U.S. Securities Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;) of the potential resale from time to time of
36,380,017 of the Company&rsquo;s common shares, par value $0.004 per share, of which 4,000,000 are issued and outstanding and
32,380,017 are issuable upon the exercise of currently issued and outstanding warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In rendering this opinion, we have examined
originals or copies (certified or otherwise identified to our satisfaction) of the following documents:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(i)</TD><TD STYLE="text-align: justify">the Registration Statement and the prospectus included therein (the &ldquo;<B>Prospectus</B>&rdquo;);</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(ii)</TD><TD STYLE="text-align: justify">the Company's annual report on Form 20-F for the fiscal year ended December 31, 2016 (the &ldquo;<B>Annual</B>
<B>Report</B>&rdquo;), which is incorporated by reference into the Registration Statement; and</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in">(iii)</TD><TD STYLE="text-align: justify">such other papers, documents, agreements, certificates of public officials and certificates of
representatives of the Company, as we have deemed relevant and necessary as the basis for the opinions hereafter expressed.</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In such examination, we have assumed (a)
the legal capacity of each natural person, (b) the genuineness of all signatures and the authenticity of all documents submitted
to us as originals, (c) the conformity to original documents of all documents submitted to us as conformed or photostatic copies,
(d) that the documents reviewed by us in connection with the rendering of the opinion set forth herein are true, correct and complete
and (e) the truthfulness of each statement as to all factual matters contained in any document or certificate encompassed within
the due diligence review undertaken by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="pg1img2_ex8-1.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="pg2img1_ex8-1.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As to matters of fact material to this
opinion that have not been independently established, we have relied upon the representations and certificates of public officials,
directors and officers of the Company and others, in each case as we have deemed relevant and appropriate. We have not independently
verified the facts so relied on.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We hereby confirm that we have reviewed
the section titled &ldquo;Item 10.E. Taxation&mdash;United States Tax Considerations&mdash;United States Federal Income Taxation
of United States Holders&rdquo; in the Annual Report. Based on the representations, covenants, assumptions, conditions and qualifications
described in such section, and taking into account the fact that the discussions set forth in such section do not purport to discuss
all possible U.S. federal income tax consequences of the ownership and disposition of the Company&rsquo;s common shares, and subject
to the qualifications, limitations and assumptions set forth herein, we confirm that the discussions set forth in such section,
to the extent they constitute summaries of law or legal conclusions, unless otherwise noted, constitute our opinion with respect
to the material U.S. federal income tax consequences of the ownership and disposition of the Company&rsquo;s common shares, as
of the date of the Registration Statement, and accurately state our views as to the tax matters discussed therein (except for the
representations and statements of fact of the Company included under such caption, as to which we express no opinion).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We express no opinion as to any U.S. federal
income tax consequences other than the opinion set forth above. We express no opinion with respect to tax consequences under any
state, local, or non-U.S. tax law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Our opinions and the tax discussion as
set forth in the Registration Statement are based on the current provisions of the Internal Revenue Code of 1986, as amended, the
Treasury Regulations promulgated thereunder, published pronouncements of the Internal Revenue Service which may be cited or used
as precedents, and case law, any of which may be changed at any time with retroactive effect. This opinion is expressed as of the
date hereof, and we are under no obligation to supplement or revise our opinion to reflect any legal developments or factual matters
arising subsequent to the date hereof or the impact of any information, document, certificate, record, statement, representation,
covenant, or assumption relied upon herein that becomes incorrect or untrue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the filing of this opinion
as an exhibit to the Registration Statement, the discussion of this opinion in the Registration Statement and to the references
to our firm in the Registration Statement and the Prospectus. In giving this consent, we do not hereby admit that we are in the
category of persons whose consent is required under Section 7 of the Securities Act, or the rules and regulations promulgated thereunder,
nor do we admit that we are experts with respect to any part of the Registration Statement within the meaning of the term &ldquo;expert&rdquo;
as used in the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Watson Farley &amp; Williams LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Watson Farley &amp; Williams LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

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<TYPE>EX-8.2
<SEQUENCE>4
<FILENAME>v461933_ex8-2.htm
<DESCRIPTION>EXHIBIT 8.2
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 8.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="pg1img1_ex8-2.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Globus Maritime Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">128 Vouliagmenis Avenue, 3rd Floor</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">166 74 Glyfada</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Athens, Greece</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Our reference: 25810.50005/80494896v2</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">April 13, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Registration Statement on Form F-3 &ndash;
Exhibit 8.2 Opinion</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Dear Sirs:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have acted as counsel to Globus Maritime
Limited, a Marshall Islands corporation (the &ldquo;<B>Company</B>&rdquo;), in connection with the Company's registration statement
on Form F-3 (as amended or supplemented from time to time and inclusive of all exhibits, the &ldquo;<B>Registration Statement</B>&rdquo;),
relating to the registration under the U.S. Securities Act of 1933, as amended (the &ldquo;<B>Securities Act</B>&rdquo;) of the
potential resale from time to time of 36,380,017 of the Company&rsquo;s common shares, par value $0.004 per share, of which 4,000,000
are issued and outstanding and 32,380,017 are issuable upon the exercise of currently issued and outstanding warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As such counsel, we have examined originals
or copies (certified or otherwise identified to our satisfaction) of all such documents, including (i) the Registration Statement
and the prospectus contained therein (the &ldquo;<B>Prospectus</B>&rdquo;), (ii) the articles of incorporation and bylaws of the
Company, and (iii) such other corporate records, certificates, agreements, documents or other instruments, and such certificates
or comparable documents of public officials and of officers and representatives of the Company as we have deemed relevant and necessary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In such examination, we have assumed: (a)
the legal capacity of each natural person, (b) the genuineness of all signatures and the authenticity of all documents submitted
to us as originals, (c) the conformity to original documents of all documents submitted to us as conformed or photostatic copies,
(d) that the documents reviewed by us in connection with the rendering of the opinion set forth herein are true, correct, and complete,
and (e) the truthfulness of each statement as to all factual matters contained in any document or certificate encompassed within
the due diligence review undertaken by us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="pg1img2_ex8-2.jpg" ALT="">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="pg2img1_ex8-2.jpg" ALT="">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This opinion letter is limited to Marshall
Islands Law.&nbsp;&nbsp;We expressly disclaim any responsibility to advise of any development or circumstance of any kind, including
any change of law or fact that may occur after the date of this opinion letter that might affect the opinion expressed herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Based on the facts as set forth in the
Registration Statement and the Prospectus, and having regard to legal considerations which we deem relevant, and subject to the
qualifications, limitations and assumptions set forth herein, we hereby confirm that we have reviewed the discussion set forth
in the Prospectus under the caption &ldquo;Non-United States Tax Considerations&rdquo; and we confirm that the statements in such
discussion, to the extent they constitute legal conclusions, unless otherwise noted, are the opinion of Watson Farley &amp; Williams
LLP with respect to Marshall Islands tax consequences as of the date of the Prospectus (except for the representations and statements
of fact of the Company included under such caption, as to which we express no opinion).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We consent to the filing of this opinion
as an exhibit to the Registration Statement, the discussion of this opinion in the Registration Statement, and to the references
to our firm in the Registration Statement and the Prospectus. In giving this consent, we do not hereby admit that we are in the
category of persons whose consent is required under Section 7 of the Securities Act or the Rules, nor do we admit that we are experts
with respect to any part of the Registration Statement within the meaning of the term &ldquo;expert&rdquo; as used in the Securities
Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>Watson Farley &amp; Williams LLP</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">/s/ Watson Farley &amp; Williams LLP</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>


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<DOCUMENT>
<TYPE>EX-23.2
<SEQUENCE>5
<FILENAME>v461933_ex23-2.htm
<DESCRIPTION>EXHIBIT 23.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Exhibit 23.2</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We consent to the reference to our firm under
the caption &quot;Experts&quot; in the Registration Statement (Form F-3) and related Prospectus of Globus Maritime Limited for
the registration of 36,380,017 Common Shares offered by the Selling Shareholders listed therein, and to the incorporation by reference
therein of our report dated April 11, 2017, with respect to the consolidated financial statements of Globus Maritime Limited, included
in its Annual Report (Form 20-F) for the year ended December 31, 2016, filed with the Securities and Exchange Commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%; padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/</FONT><FONT STYLE="font: 10pt Times New Roman, Times, Serif">
    Ernst &amp; Young (Hellas) Certified Auditors-Accountants S.A.</FONT></TD>
    <TD STYLE="width: 48%; text-align: justify">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Athens, Greece</FONT></TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 13, 2017</FONT></TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>


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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>13
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
