<SEC-DOCUMENT>0001104659-20-072901.txt : 20200612
<SEC-HEADER>0001104659-20-072901.hdr.sgml : 20200612
<ACCEPTANCE-DATETIME>20200612160556
ACCESSION NUMBER:		0001104659-20-072901
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		3
CONFORMED PERIOD OF REPORT:	20200612
FILED AS OF DATE:		20200612
DATE AS OF CHANGE:		20200612

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:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-34985
		FILM NUMBER:		20960255

	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>6-K
<SEQUENCE>1
<FILENAME>tm2022472d1_6k.htm
<DESCRIPTION>FORM 6-K
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-left: auto; margin-right: auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

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

<P STYLE="font: 14pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 6-K</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13a-16 OR<BR>
15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">For the month of June 2020</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Commission File Number: 001-34985</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 14pt"><B>Globus
Maritime Limited</B></FONT><B> <FONT STYLE="font-size: 18pt"><BR>
</FONT></B><FONT STYLE="font-size: 10pt">(Translation of registrant&rsquo;s name into English)</FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>128 Vouliagmenis Avenue, 3rd Floor, Glyfada,
Attica, Greece, 166 74<BR>
</B>(Address of principal executive office)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant files or will
file annual reports under cover of Form 20-F or Form 40-F.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Form&nbsp;20-F&nbsp;&nbsp;</FONT><FONT STYLE="font-family: Wingdings">&#120;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Form
40-F&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(1):</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark if the registrant is submitting the Form
6-K in paper as permitted by Regulation S-T Rule 101(b)(7):</P>




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

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

<!-- Field: Rule-Page --><DIV STYLE="margin-left: auto; margin-right: auto; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <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: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>INFORMATION CONTAINED IN THIS FORM 6-K REPORT</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">On June 12,
2020, Globus Maritime Limited, a Marshall Islands corporation (&ldquo;we&rdquo;, &ldquo;us&rdquo;, &ldquo;our&rdquo;, or the &ldquo;Company&rdquo;)
entered into a stock purchase agreement and issued 5,000 of our newly-designated Series B Preferred Shares,&nbsp;par value $0.001
per share, to Goldenmare Limited, a company controlled by our Chief Executive Officer, Athanasios Feidakis, in return for $150,000,
which amount was paid by reducing, on a dollar for dollar basis, the amount payable as executive compensation by the Company to
Goldenmare Limited pursuant to a consultancy agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The issuance
of the Series B preferred shares to Goldenmare Limited was approved by an independent committee of the Board of Directors of the
Company, which received a fairness opinion from an independent financial advisor that the transaction was for a fair value.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">The Series B
preferred shares have the following characteristics:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Voting</I></B>.&nbsp;
To the fullest extent permitted by law, each Series B preferred share entitles the holder hereof to 25,000 votes per share on
all matters submitted to a vote of the shareholders of the Company, <I>provided however, </I>that no holder of Series B preferred
shares may exercise voting rights pursuant to Series B preferred shares that would result in the aggregate voting power of any
beneficial owner of such shares and its affiliates(whether pursuant to ownership of Series B preferred shares, common shares or
otherwise) to exceed 49.0% of the total number of votes eligible to be cast on any matter submitted to a vote of shareholders
of the Company. To the fullest extent permitted by law, the holders of Series B preferred shares shall have no special voting
or consent rights and shall vote together as one class with the holders of the common shares on all matters put before the shareholders.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Conversion</I>.&nbsp;</B>The
Series B preferred shares are not convertible into common shares or any other security.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Redemption</I>.</B>&nbsp;&nbsp;The
Series B preferred shares are not redeemable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Dividends</I></B><I>.&nbsp;</I>The
Series B preferred shares have no dividend rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Liquidation
Preference</I>.&nbsp;</B>Upon any liquidation, dissolution or winding up of the Company, the Series B preferred shares are entitled
to receive a payment with priority over the common shareholders equal to the par value of $0.001 per share. The Series B preferred
shareholder has no other rights to distributions upon any liquidation, dissolution or winding up of the Company.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Transferability.
</I></B>All issued and outstanding Series B preferred shares must be held of record by one holder, and the Series B preferred
shares shall not be transferred without the prior approval of our Board of Directors.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><B><I>Proportional
Adjustment.</I></B> In the event the Company (i) declares any dividend on its common shares, payable in common shares, (ii) subdivides
the outstanding common shares or (iii) combines the outstanding common shares into a smaller number of shares, there shall be
a proportional adjustment to the number of outstanding Series B preferred shares.</P>

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

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

<!-- Field: Page; Sequence: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <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: 0pt 0; text-align: justify; background-color: white">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #212529"><B><I>Risk Factors</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #212529">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #212529">The
following should be read in conjunction with the risk factors previously disclosed in our Annual Report on Form&nbsp;20-F for
the fiscal year ended December&nbsp;31, 2019.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white; color: #212529">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>The superior voting rights of our
Series B preferred shares limits the ability of our common shareholders to control or influence corporate matters, and the interests
of the holder of such shares could conflict with the interests of our other shareholders.</I></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">While our common shares have one vote per
share, each of our 5,000 Series B preferred shares presently outstanding has 25,000 votes per share; however, the voting power
of the Series B preferred shares is limited such that no holder of Series B preferred shares may exercise voting rights pursuant
to any Series B preferred shares that would result in the total number of votes a holder is entitled to vote on any matter submitted
to a vote of shareholders of the Company to exceed 49.0% of the total number of votes eligible to be cast on such matter. The Series
B preferred shares, however, have no dividend rights or distribution rights, other than the right upon dissolution to receive a
priority payment equal to the par value per of $0.001 per share.</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 of the date of this report on Form 6-K
and until such time that we issue a significant number of securities, Goldenmare Limited, a company affiliated with our Chief Executive
Officer, can therefore control 49.0% of the voting power of our outstanding capital stock. Until such time that we issue a significant
number of securities, Goldenmare Limited will have substantial control and influence over our management and affairs and over matters
requiring shareholder approval, including the election of directors and significant corporate transactions, even though Goldenmare
Limited owns significantly less than 50% of the Company economically.</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">The superior voting rights of our Series
B preferred shares limit our common shareholders&rsquo; ability to influence corporate matters. The interests of the holder of
the Series B preferred shares may conflict with the interests of our common shareholders, and as a result, we may take actions
that our common shareholders do not view as beneficial. Any such conflicts of interest could adversely affect our business, financial
condition and results of operations, and the trading price of our common shares.</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><I>Provisions of our articles of incorporation
and bylaws may have anti-takeover effects<FONT STYLE="color: #212529; background-color: white">, which could depress the trading
price of our common shares.</FONT></I></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">Several provisions of our articles of incorporation
and bylaws, which are summarized below, may have anti-takeover effects. These provisions are intended to avoid costly takeover
battles, lessen our vulnerability to a hostile change of control and enhance the ability of our board of directors to maximize
shareholder value in connection with any unsolicited offer to acquire our company. However, these anti-takeover provisions could
also discourage, delay or prevent the merger or acquisition of our company by means of a tender offer, a proxy contest or otherwise
that a shareholder may consider in its best interest and the removal of incumbent officers and directors, which could affect the
desirability of our shares and, consequently, our share price.</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"><I>Multi Class Stock</I>. Our multi-class
stock structure, which consists of common shares, Class B common shares, and preferred shares, can provide holders of our Class
B common shares or preferred shares a significant degree of control over all matters requiring shareholder approval, including
the election of directors and significant corporate transactions, such as a merger or other sale of our company or its assets,
because our different classes of shares can have different numbers of votes.</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>

<!-- Field: Page; Sequence: 3 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <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: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For instance, while our common shares have
one vote on matters before the shareholders, each of our 5,000 outstanding Series B preferred shares have 25,000 votes on matters
before the shareholders; <I>provided however, </I>that no holder of Series B preferred shares may exercise voting rights pursuant
to any Series B preferred shares that would result in the total number of votes a holder is entitled to vote on any matter submitted
to a vote of shareholders of the Company to exceed 49.0% of the total number of votes eligible to be cast on such matter. No Class
B common shares are presently outstanding, but if and when we issue any, each Class B common share will have 20 votes on matters
before the shareholders.</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">At present, and until a substantial number
of additional securities are issued, our holder of Series B preferred shares exerts substantial control of the Company&rsquo;s
votes and is able to exert substantial control over our management and all matters requiring shareholder approval, including electing
directors and significant corporate transactions, such as a merger. Such holder&rsquo;s interest could differ from 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"><I>Blank Check Preferred Shares</I>. Under
the terms of our articles of incorporation, our board of directors has authority, without any further vote or action by our shareholders,
to issue up to 100 million shares of &ldquo;blank check&rdquo; preferred shares, almost all of which currently remain available
for issuance. Our board could authorize the issuance of preferred shares with voting or conversion rights that could dilute the
voting power or rights of the holders of common shares, in addition to preferred shares that are already outstanding. The issuance
of preferred shares, while providing flexibility in connection with possible acquisitions and other corporate purposes, could,
among other things, have the effect of delaying, deferring or preventing a change in control of us or the removal of our management
and may harm the market price of our common shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Classified Board of Directors</I>. Our
articles of incorporation provide for the division of our board of directors into three classes of directors, with each class as
nearly equal in number as possible, serving staggered, three-year terms beginning upon the expiration of the initial term for each
class. Approximately one-third of our board of directors is elected each year. This classified board provision could discourage
a third party from making a tender offer for our shares or attempting to obtain control of us. It could also delay shareholders
who do not agree with the policies of our board of directors from removing a majority of our board of directors for up to two years.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><I>Election of Directors</I>. Our articles
of incorporation do not provide for cumulative voting in the election of directors. Our bylaws require parties, other than the
chairman of the board of directors, board of directors and shareholders holding 30% or more of the voting power of the aggregate
number of our shares issued and outstanding and entitled to vote, to provide advance written notice of nominations for the election
of directors. These provisions may discourage, delay or prevent the removal of incumbent officers and directors.</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"><I>Advance Notice Requirements for Shareholder
Proposals and Director Nominations</I>. Our bylaws provide that shareholders, other than shareholders holding 30% or more of the
voting power of the aggregate number of our shares issued and outstanding and entitled to vote, seeking to nominate candidates
for election as directors or to bring business before an annual meeting of shareholders must provide timely notice of their proposal
in writing to the corporate secretary. Generally, to be timely, a shareholder&rsquo;s notice must be received at our principal
executive offices not less than 150 days or more than 180 days prior to the first anniversary date of the immediately preceding
annual meeting of shareholders. Our bylaws also specify requirements as to the form and content of a shareholder&rsquo;s notice.
These provisions may impede a shareholder&rsquo;s ability to bring matters before an annual meeting of shareholders or make nominations
for directors at an annual meeting of shareholders.</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>

<!-- Field: Page; Sequence: 4 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <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: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B><I>Pandemics such as the
novel coronavirus (COVID-19) make it very difficult for us to operate in the short-term and have unpredictable long-term consequences,
all of which could decrease the supply of and demand for the raw materials we transport, the rates that we are paid to carry our
cargo, and our financial outlook.</I></B></P>

<P STYLE="font: italic bold 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">On March 11, 2020, the World Health Organization
declared the spread of a novel coronavirus (COVID-19) to be a global pandemic. In the name of public health, governments around
the world have shuttered workplaces, restricted travel, and put in place other measures which have resulted in a dramatic decrease
of economic activity, including a reduction of goods imported and exported worldwide. While some economies have begun re-opening
in limited capacities, it is impossible to predict the course the virus will take, how governments would respond to a second or
third wave of the virus, whether an effective vaccine can be produced economically at scale, and how the behavior of our clients
will change, if at all, due to the coronavirus pandemic&rsquo;s economic shock. Some experts fear that the economic consequences
of COVID-19 could cause a recession that outlives the pandemic.</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 thus far been affected by COVID-19
as follows:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">The pandemic has had a negative impact on our voyage
revenues for the three-month period ended March 31, 2020, which reached $2.3 million, compared to $3.5 million to the same period
in 2019. We attribute this 35% decrease to the low freight rates achieved in the first quarter of 2020 due to the outbreak of
the novel coronavirus.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Based upon increased volatility in the charter market
and its effect on the recoverability of the carrying amount for our vessels, we concluded that the pandemic may have trigged the
impairment of our vessels. We performed an impairment assessment of our vessels by comparing the discounted projected net operating
cash flows for each vessel to its carrying value. As of March 31, 2020, the Company concluded that the recoverable amounts of
the vessels were lower than their carrying amounts and recorded an impairment loss of $4.6 million.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Our vessels have been subject to quarantine checks
upon arriving at certain ports. This has functionally limited the amount of cargo that the Company (and its competitors) are able
to move because countries worldwide have imposed quarantine checks on arriving vessels, which have caused delays in loading and
delivery of cargoes.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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; font-size: 10pt">&middot;</FONT></TD><TD STYLE="text-align: justify">Due to quarantine restrictions placed on persons and
additional procedures using commercial aviation and other forms of public transportation, our crew has had difficulty embarking
and disembarking on our ships. This has not thus far functionally affected our ability to crew out vessels.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">We expect that pandemics generally, including
the current novel coronavirus pandemic, could affect our business in the following ways, among others:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify">Pandemics generally reduce the demand for goods worldwide
without a commensurate corresponding change in the number of vessels worldwide, thereby increasing competition for cargo and decreasing
the market price for transporting dry bulk products.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify">Countries could impose quarantine checks and hygiene
measures on arriving vessels, which functionally reduce the amount of cargo that we and our competitors are able to move by causing
delays in loading and delivery of cargo.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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: Times New Roman, Times, Serif; font-size: 10pt">(3)</FONT></TD><TD STYLE="text-align: justify">The process of buying, selling, and maintaining vessels
is made more onerous and time-intensive. For instance, delays may be caused at shipyards for newbuildings, drydocks and other
works, in vessel inspections and related certifications by class societies, customers or government agencies, as well as delays
and shortages or a lack of access to required spare parts and lack of berths or shortages in labor, which may in turn delay any
repairs to, scheduled or unscheduled maintenance or modifications, or drydocking of, our vessels.</TD>
</TR></TABLE>

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

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

<!-- Field: Page; Sequence: 5 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <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-top: 0pt; margin-bottom: 0pt">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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: Times New Roman, Times, Serif; font-size: 10pt">(4)</FONT></TD><TD STYLE="text-align: justify">We have a decrease in productivity, generally, as
people&mdash;including our office employees and crews, as well as our counterparties&mdash;get sick and take time off from work.
We are particularly vulnerable to our crew members getting sick, as if even one of our crew members gets sick, local authorities
could require us to detain and quarantine the ship and its crew for an unspecified amount of time, disinfect and fumigate the
vessels, or take similar precautions, which would add costs, decrease our utilization, and substantially disrupt our cargo operations.
If a vessel&rsquo;s entire crew fell seriously ill, we may have substantial difficulty operating its vessel and may necessitate
extraordinary external aid.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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: Times New Roman, Times, Serif; font-size: 10pt">(5)</FONT></TD><TD STYLE="text-align: justify">International transportation of personnel could be
limited or otherwise disrupted. In particular, our crews generally work on a rotation basis, relying largely on international
air transport for crew changes plan fulfillment. Any such disruptions could impact the cost of rotating our crew, and possibly
impact our ability to maintain a full crew synthesis onboard all our vessels at any given time. It may also be difficult for our
in-house technical teams to travel to ship yards to observe vessel maintenance, and we may need to hire local experts, which local
experts may vary in skill and are difficult to supervise remotely, to conduct work we ordinarily address in-house.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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: Times New Roman, Times, Serif; font-size: 10pt">(6)</FONT></TD><TD STYLE="text-align: justify">Governments impose new regulations, directives or
practices, which we may be obligated to implement at our own expense.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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: Times New Roman, Times, Serif; font-size: 10pt">(7)</FONT></TD><TD STYLE="text-align: justify">Any or all of the foregoing could lead our charterers
to try to invoke force majeure clauses.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><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: Times New Roman, Times, Serif; font-size: 10pt">(8)</FONT></TD><TD STYLE="text-align: justify">Credit tightening or declines in global financial
markets, including to the prices of our publicly traded securities and the securities of our peers, could make it more difficult
for us to access capital, including to finance our existing debt obligations.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Any of these public health threats and
related consequences could adversely affect our financial results.</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">It is too early to assess the full long-term
impact of the ongoing novel coronavirus pandemic on global markets, and particularly on the shipping industry. It may take some
time to materialize and may not be fully reflected in the results for the year ending December 31, 2020.</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; background-color: white; color: #212529"><B><I>Safe Harbor Statement</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white; color: #212529">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">This
communication contains &ldquo;forward-looking statements&rdquo; as defined under U.S. federal securities laws. Forward-looking
statements provide the Company&rsquo;s current expectations or forecasts of future events. Forward-looking statements include
statements about the Company&rsquo;s expectations, beliefs, plans, objectives, intentions, assumptions and other statements that
are not historical facts or that are not present facts or conditions. Words or phrases such as &ldquo;anticipate,&rdquo; &ldquo;believe,&rdquo;
 &ldquo;continue,&rdquo; &ldquo;estimate,&rdquo; &ldquo;expect,&rdquo; &ldquo;intend,&rdquo; &ldquo;may,&rdquo; &ldquo;ongoing,&rdquo;
 &ldquo;plan,&rdquo; &ldquo;potential,&rdquo; &ldquo;predict,&rdquo; &ldquo;project,&rdquo; &ldquo;will&rdquo; or similar words
or phrases, or the negatives of those words or phrases, may identify forward-looking statements, but the absence of these words
does not necessarily mean that a statement is not forward-looking. Forward-looking statements are subject to known and unknown
risks and uncertainties and are based on potentially inaccurate assumptions that could cause actual results to differ materially
from those expected or implied by the forward-looking statements. The Company&rsquo;s actual results could differ materially from
those anticipated in forward-looking statements for many reasons specifically as described in the Company&rsquo;s filings with
the Securities and Exchange Commission. Accordingly, you should not unduly rely on these forward-looking statements, which speak
only as of the date of this communication. Globus undertakes no obligation to publicly revise any forward-looking statement to
reflect circumstances or events after the date of this communication or to reflect the occurrence of unanticipated events. You
should, however, review the factors and risks Globus describes in the reports it will file from time to time with the Securities
and Exchange Commission after the date of this communication.</FONT></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>

<!-- Field: Page; Sequence: 6 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <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: 0pt 0; text-align: justify">&nbsp;</P>

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

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="width: 0.75in; text-align: center"><A HREF="tm2022472d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.1</FONT></A></TD>
    <TD STYLE="text-align: justify"><A HREF="tm2022472d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
    Purchase Agreement dated June 12, 2020, made between Globus Maritime Limited and Goldenmare Limited</FONT></A></TD></TR>
<TR>
    <TD STYLE="text-align: center">&nbsp;</TD>
    <TD STYLE="text-align: justify">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: center"><A HREF="tm2022472d1_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">99.2</FONT></A></TD>
    <TD STYLE="text-align: justify"><A HREF="tm2022472d1_ex99-2.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Statement of Designation
of Series B Preferred Shares dated June 12, 2020</FONT></A></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"><B>THIS REPORT ON FORM 6-K IS HEREBY INCORPORATED
BY REFERENCE INTO THE COMPANY&rsquo;S REGISTRATION STATEMENTS: (A) &nbsp;ON FORM F-3 (FILE NO. <A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420418002435/tv481878_f3.htm">333-222580</A>) FILED WITH THE SECURITIES
AND EXCHANGE COMMISSION ON JANUARY 17, 2018 AND DECLARED EFFECTIVE FEBRUARY 8, 2018; AND (B) ON FORM F-3 (FILE NO. <A HREF="http://www.sec.gov/Archives/edgar/data/1499780/000114420419019503/tv518734_f3.htm">333-230841</A>)
FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON APRIL 12, 2019 AND DECLARED EFFECTIVE APRIL 19, 2019.</B></P>




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

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

<!-- Field: Page; Sequence: 7 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <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: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B>SIGNATURES</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; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; margin-top: 0pt; margin-bottom: 0pt">Date: June 12, 2020</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>&nbsp;</TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>GLOBUS MARITIME LIMITED</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P></TD>
    <TD COLSPAN="2">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1pt solid; width: 28%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/&nbsp;Athanasios&nbsp;Feidakis</FONT></TD>
    <TD STYLE="width: 20%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="white-space: nowrap"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name:</FONT>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Athanasios Feidakis</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title:</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">President, Chief Executive Officer and Chief Financial Officer</FONT></TD></TR>
</TABLE>
<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"></P>

<!-- Field: Page; Sequence: 8; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>tm2022472d1_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>STOCK PURCHASE AGREEMENT</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; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">This STOCK PURCHASE AGREEMENT
(this &ldquo;<B>Agreement</B>&rdquo;) is dated as of June 12, 2020, and is made and entered into between Goldenmare Limited,
a Marshall Islands corporation (&ldquo;<B>Buyer</B>&rdquo;), and Globus Maritime Limited (the &ldquo;<B>Company</B>&rdquo;) with
respect to the following facts:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">A.</TD><TD STYLE="text-align: justify">Buyer is an entity affiliated with the Chief Executive
Officer of the Company.</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left">B.</TD><TD STYLE="text-align: justify">The Company desires to issue and sell to Buyer, and
Buyer desires to purchase from the Company, 5,000 Series B preferred shares, par value $0.001 per share, upon the terms and conditions
set forth in this Agreement.</TD>
</TR></TABLE>

<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; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Accordingly, for and in
consideration of the premises, the mutual promises, covenants and agreements hereafter set forth, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, Buyer and the Company, intending to be legally bound,
do hereby agree as follows:</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"><B>ARTICLE I</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>Section 1.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Sale
and Purchase of Shares</U>.</B> &nbsp;&nbsp;On and subject to the terms and conditions of this Agreement, effective as of the Closing
Date, Buyer shall purchase from the Company, and the Company shall issue to Buyer, 5,000 Series B preferred shares, par value $0.001
per share (the &ldquo;<B>Shares</B>&rdquo;), of the Company registered for the consideration specified in Section 1.2 and upon
the terms and conditions set forth in this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>Section 1.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Purchase Price</U>. &nbsp;</B>The purchase price for the Shares (the &ldquo;<B>Purchase Price</B>&rdquo;) is $150,000. The entire
Purchase Price shall be paid by way of cancellation of an amount equal to the Purchase Price that is already owed by the Company
to Buyer.&nbsp; The Company and Buyer each hereby agree that, effective upon issuance of the Shares to Buyer, the Purchase Price
is deemed paid, and the amount that the Company owes to Buyer for previous consultancy services already rendered by Buyer, shall
be reduced, on a dollar for dollar basis, in an amount equal to the Purchase Price.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify"><B>Section
1.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Closing Date;
Deliveries</U></B>. &nbsp;The closing shall occur on the date hereof, or such other date as the parties hereto may agree to (the
 &ldquo;<B>Closing Date</B>&rdquo;). &nbsp;On the Closing Date, the Company shall deliver to Buyer a share certificate (or evidence
of shares issued in uncertificated form) representing the Shares issued in the name of Buyer.</P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>REPRESENTATIONS, WARRANTIES AND COVENANTS
OF THE COMPANY</U></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: justify; text-indent: 0.5in">To induce Buyer to enter
into and perform its obligations under this Agreement, the Company hereby represents and warrants to Buyer, and covenants with
Buyer, as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authority
and Capacity</U>. &nbsp;</B>The Company has all requisite power, authority and capacity to enter into this Agreement.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Binding
Agreement</U>. &nbsp;</B>This Agreement has been duly authorized and validly executed and delivered by the Company and constitutes
the Company&rsquo;s valid and binding agreement, enforceable against the Company in accordance with and subject to its terms, except
as such enforceability may be limited by bankruptcy, insolvency, reorganization and other laws of general applicability relating
to or affecting creditors&rsquo; rights and by general principles of equity, including principles of commercial reasonableness,
fair dealing and good faith.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 2.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Valid
Issuance</U>. </B>Each of the Shares to be issued and sold pursuant to this Agreement have been duly authorized in accordance
with the articles of incorporation of the Company and, when issued and delivered after full payment therefor has been received,
will be validly issued, fully paid and non-assessable.</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"></P>

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <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-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"><B>ARTICLE III </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><U>REPRESENTATIONS AND WARRANTIES OF
BUYER</U></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: justify; text-indent: 0.5in">To induce the Company
to enter into and perform their obligations under this Agreement, Buyer represents and warrants to the Company as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Authority
and Capacity</U>. &nbsp;</B>Buyer has all requisite power, authority and capacity to enter into this Agreement. The execution,
delivery and performance of this Agreement by Buyer does not, and the consummation of the transaction contemplated hereby will
not, result in a breach of or default under any agreement to which Buyer is a party or by which Buyer is bound.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Binding
Agreement</U>. &nbsp;</B>This Agreement has been duly authorized and validly executed and delivered by Buyer and constitutes Buyer&rsquo;s
valid and binding agreement, enforceable against Buyer in accordance with and subject to its terms, except as such enforceability
may be limited by bankruptcy, insolvency, reorganization and other laws of general applicability relating to or affecting creditors&rsquo;
rights and by general principles of equity, including principles of commercial reasonableness, fair dealing and good faith.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Disclosure</U>.
</B>&nbsp;&nbsp; As an affiliate of the Chief Executive Officer of the Company, Buyer is familiar with the reports and documents
filed by the Company with the Securities and Exchange Commission (the &ldquo;<B>Commission</B>&rdquo;) since January 1, 2017. &nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Investment
Representations</U></B>. &nbsp;Buyer is acquiring the Shares for Buyer&rsquo;s own account and is not acquiring the Shares with
a view to or for sale in connection with any distribution thereof within the meaning of the Securities Act of 1933, as amended
(the &ldquo;<B>Securities Act</B>&rdquo;). Buyer is (a) an &ldquo;accredited investor&rdquo; within the meaning of Rule 501 of
Regulation D promulgated by the Commission pursuant to the Securities Act, (b) by reason of its business and financial experience
it has such knowledge, sophistication and experience in making similar investments and in business and financial matters generally
so as to be capable of evaluating the merits and risks of the prospective investment in the Shares, (c) was advised by the Company
to obtain United States counsel, either obtained United States counsel or had a full and fair opportunity and the means to obtain
United States counsel, (d) is able to bear the economic risk of such investment and is able to afford a complete loss of such investment
and (e) it was provided access to all information regarding the Company and its business as Buyer desired, and was offered the
opportunity to ask questions of management of the Company and to receive any documents and information on the Company. Buyer has
no present intention of selling or granting any participation in or otherwise distributing the Shares. Buyer was not formed for
the purpose of acquiring the Shares. If Buyer should in the future decide to dispose of any of the Shares, Buyer understands and
agrees (a) that it may do so only in compliance with the Securities Act and applicable state or other securities laws, as then
in effect, including a sale contemplated by any registration statement pursuant to which such securities are being offered, or
pursuant to an exemption from the Securities Act, and (b) that stop-transfer instructions to that effect may be in effect with
respect to the Shares. Buyer further understands and agrees that there is no public trading market for the Shares, that none is
expected to develop, and that the Shares must be held indefinitely unless and until they are registered under the Securities Act
or an exemption from registration is available.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 3.5&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Restricted
Securities</U></B>. &nbsp;Buyer understands that the Shares may be characterized as &ldquo;restricted securities&rdquo; under the
Securities Act inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under
such laws and applicable regulations such securities may be resold (i) without registration under the Securities Act only in certain
limited circumstances or (ii) if such resale is registered under the Securities Act. Buyer (i) acknowledges that after the Closing
Date and/or after issuance of the Shares, Buyer may be deemed an &ldquo;affiliate&rdquo; of the Company under the Securities Act,
(ii) acknowledges understanding the additional restrictions under the Securities Act applicable to affiliates of the Company, and
(iii) either (a) confirms having discussed such restrictions with United States securities counsel or (b) acknowledges that it
both the means and a full and fair opportunity to obtain United States securities counsel and discuss such restrictions prior to
entering into this Agreement. Buyer understands that any certificates or statements evidencing any Shares may bear a legend relating
to the Securities Act.</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"></P>

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <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-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"><B>ARTICLE IV</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.1&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Entire
Agreement</U>. &nbsp;</B>This Agreement constitutes the entire understanding and agreement of the parties relating to the subject
matter hereof and supersedes any and all prior understandings, agreements, negotiations and discussions, both written and oral,
between the parties hereto with respect to the subject matter hereof.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.2&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Governing
Law</U>. &nbsp;</B>This Agreement shall be construed, interpreted and enforced in accordance with, and shall be governed by, the
laws of the State of New York without reference to, and regardless of, any applicable choice or conflicts of laws principles.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.3&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Counterparts</U>.
 &nbsp;</B>This Agreement may be executed in any number of counterparts and by the several parties hereto in separate counterparts,
each of which shall be deemed to be an original, and all of which together shall constitute one and the same Agreement. This Agreement
may be executed electronically or by PDF.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><B>Section 4.4&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Further
Assurances</U>. &nbsp;</B>Each of the parties hereto shall from time to time at the request of any other party hereto, and without
further consideration, execute and deliver to such other party such further documents, agreements and certificates and take such
other action as such other party may reasonably request in order to more effectively fulfill the purposes of this Agreement.</P>

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

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

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="text-align: center; font-size: 10pt; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <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: 0pt 0; text-align: left; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">IN WITNESS WHEREOF, this
Agreement has been signed by the parties hereto as of the date first above written. &nbsp;</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">&nbsp;</P>

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

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="white-space: nowrap; width: 2%; text-align: left">By:&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 28%">/s/ Olga Lambrianidou</TD>
                                                    <TD STYLE="text-align: justify; width: 70%">&nbsp;</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Title:&#9;Secretary</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">&nbsp;</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="white-space: nowrap; width: 2%; text-align: left">By:&nbsp;&nbsp;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: justify; width: 28%">/s/ Athanasios Feidakis</TD>
                                                    <TD STYLE="text-align: justify; width: 70%">&nbsp;</TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Name: Athanasios Feidakis</P>

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

<!-- Field: Page; Sequence: 4; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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

</BODY>
</HTML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.2
<SEQUENCE>3
<FILENAME>tm2022472d1_ex99-2.htm
<DESCRIPTION>EXHIBIT 99.2
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

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

<P STYLE="margin: 0; text-align: right"><B>Exhibit 99.2</B></P>

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

<P STYLE="margin-top: 0; margin-bottom: 0; text-align: center"><B></B></P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;AND PRIVILEGES OF SERIES B PREFERRED
STOCK OF</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">GLOBUS MARITIME LIMITED</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">(Pursuant to Section 35 of the Business
Corporations Act of the Republic of the Marshall Islands)</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">The Articles of
Incorporation of Globus Maritime Limited, a Marshall Islands corporation (the &ldquo;<B>Corporation</B>&rdquo;) confers upon the
Board of Directors of the Corporation (the &ldquo;<U>Board of Directors</U>&rdquo;) the authority to provide for the issuance
of shares of preferred stock in series and to establish the number of shares to be included in each such series and to fix by
resolution or resolutions the designations and the powers, preferences and relative, participating, optional or other rights and
qualifications, limitations or restrictions thereon. On May 22, 2020, the Board of Directors duly adopted the following resolution
creating a series of preferred stock designated as the Series B Preferred Stock, comprised initially of 5,000 shares and such
resolution has not been modified and is in full force and effect on the date hereof:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">RESOLVED
that, pursuant to the authority vested in the Board of Directors in accordance with the provisions of the Articles of Incorporation
of the Corporation, a series of the class of authorized preferred stock, par value $0.001 per share, of the Corporation is hereby
created and that the designation and number of shares thereof and the powers, preferences and relative, participating, optional
or other rights and qualifications, limitations or restrictions thereon are as follows:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
1.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Designation and Amount</U>. The Corporation, out of its authorized, unissued and undesignated shares of preferred stock, par
value $0.001 per share (the &ldquo;<B>Preferred Stock</B>&rdquo;), hereby designates Series B Preferred Shares, referred to herein
as &ldquo;Series B Preferred Shares.&rdquo; The Series B Preferred Shares shall have a par value of $0.001 per share, and the
number of shares constituting such series shall initially be 5,000, which number the Board may increase or decrease (but not below
the number of shares then outstanding) from time to time.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
2.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Proportional Adjustment</U>. In the event the Corporation shall at any time after the issuance of any Series B Preferred Share
(i) declare any dividend on the common stock of the Corporation par value $0.004 per share (the &ldquo;<B>Common Shares</B>&rdquo;),
payable in Common Shares, (ii) subdivide the outstanding Common Shares or (iii) combine the outstanding Common Shares into a smaller
number of shares, there shall be a proportional adjustment to the number of outstanding Series B Preferred Shares. Neither the
Common Shares nor the Class B Shares may be reclassified, subdivided or combined unless such reclassification, subdivision or
combination occurs simultaneously and in the same proportion for the Series B Preferred Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
3.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Dividends and Distributions</U>. Subject to Section 6, the Series B Preferred Shares shall not have dividend or distribution
rights.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
4.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Voting Rights</U>.&nbsp; The holders of Series B Preferred Shares shall have the following voting rights:</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">(a)
Each Series B Preferred Share shall entitle the holder thereof to 25,000 votes per share on all matters submitted to a vote of
the shareholders of the Corporation, <I>provided however, </I>that notwithstanding any other provision of this Statement of Designation,
no holder of Series B Preferred Shares may exercise voting rights pursuant to any Series B Preferred Shares that would result
in the total number of votes a holder is entitled to vote (including any voting power of such holder derived from Series B Preferred
Shares, Common Shares, Class B Shares or any other voting security of the Corporation that may be issued in the future) on any
matter submitted to a vote of shareholders of the Corporation to exceed 49.0% of the total number of votes eligible to be cast
on such matter.&nbsp; For purposes of this Section 4(a), a holder of Series B Preferred Shares shall include each &ldquo;beneficial
owner&rdquo; of such Series B Preferred Share, as determined in accordance with Section 13d-3 of the Securities Exchange Act of
1934, as amended, together with any person or entity that, directly or indirectly through one or more intermediaries, controls,
or is controlled by, or is under common control with, such beneficial owner.</P>

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

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

<!-- Field: Page; Sequence: 1 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <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; text-indent: 1in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">(b)
Except as otherwise provided herein or by law, the holders of Series B Preferred Shares and the holders of Common Shares (and
Class B Shares, to the extent required by the Articles) shall vote together as one class on all matters submitted to a vote of
shareholders of the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">(c) Except as required by law, holders of Series B Preferred Shares shall have no special voting
rights and their consent shall not be required (except to the extent they are entitled to vote with holders of Common Shares and
Class B Shares as set forth herein) for taking any corporate action.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
5.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Reacquired Shares</U>. Any Series B Preferred Shares purchased or otherwise acquired by the Corporation in any manner whatsoever
shall be retired and canceled promptly after the acquisition thereof.&nbsp; All such shares shall upon their cancellation become
authorized but unissued shares of Preferred Stock and may be reissued as part of a new series of Preferred Stock to be created
by resolution or resolutions of the Board of Directors of the Corporation, subject to the conditions and restrictions on issuance
set forth herein and in the Articles of Incorporation of the Corporation, as then amended.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
6.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Liquidation, Dissolution or Winding Up; Ranking</U>. (a) Series B Preferred Shares shall be preferred as to assets over Junior
Stock, Common Shares and Class B Shares so that, in the event of the voluntary or involuntary liquidation, dissolution or winding
up of the Corporation, the holders of Series B Preferred Shares shall be entitled, in conjunction with the holders of Parity Stock,
to have set apart for them or to be paid out of assets of the Corporation, after provision for the holders of Senior Stock (except
for the holders of Common Shares and Class B Shares) but before any distribution is made to or set apart for the holders of Junior
Stock, Common Shares or Class B Shares, in relation to each Series B Preferred Share held by a holder, an amount in cash equal
to, but in no event more than, a sum in cash equal to the par value of such Series B Preferred Share. Following payment to the
holders of the Series B Preferred Shares of the full preferential amounts described in this Section 6, the holders of the Series
B Preferred Shares shall have no further right to participate in any assets of the Corporation available for distribution.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">(b)
If, upon such liquidation, dissolution or winding up of the Corporation, the assets of the Corporation available for distribution
to the holders of its capital stock remaining after provision for the holders of Senior Stock (except for the holders of Common
Shares and Class B Shares) shall be insufficient to permit the distribution in full of the amounts receivable by the holders of
Parity Stock and Series B Preferred Shares pursuant to Paragraph (A) of this Section 6, then all such remaining assets of the
Corporation shall be distributed ratably among the holders of Series B Preferred Shares and the holders of Parity Stock in proportion
to the amounts which each would have been entitled to receive if such remaining assets were sufficient to permit distribution
in full. Neither the consolidation nor merger of the Corporation nor the sale, lease or transfer by the Corporation of all or
any part of its assets shall be deemed to be a liquidation, dissolution or winding up of the Corporation for purposes of this
Section 6.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">(c) The Series B Preferred
Shares shall be deemed to rank:</P>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">(i)</TD><TD STYLE="text-align: justify">senior to all Junior Stock, Common Shares and Class B
Shares; and</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">(ii)</TD><TD STYLE="text-align: justify">on parity with Parity Stock; and</TD>
</TR></TABLE>

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

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 1in"></TD><TD STYLE="width: 0.25in; text-align: left">(iii)</TD><TD STYLE="text-align: justify">junior to all of the Corporation's indebtedness and other
liabilities with respect to assets available to satisfy claims against the Corporation and to Senior Stock.</TD>
</TR></TABLE>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Corporation may
issue Common Shares, Class B Shares, Junior Stock, Parity Stock and Senior Stock from time to time in one or more series without
the vote or consent of the any holder of the Series B Preferred Shares.&nbsp;</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Class B Shares</B>&rdquo;
means shares of Class B common stock, par value $0.001 per share, of the Corporation, or any other shares of the capital stock
of the Corporation into which such shares of Class B common stock shall be reclassified, changed or exchanged.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Junior Stock</B>&rdquo;
means (i) shares of Common Stock, (ii) Class B Shares and (iii) all those classes and series of Preferred Stock or special stock,
by the terms of the Articles of Incorporation of the Corporation (as amended, the &ldquo;<B>Articles</B>&rdquo;) or of the instrument
by which the Board of Directors, acting pursuant to authority granted in the Articles, shall designate the special rights and limitations
of each such class and series of Preferred Stock or special stock, which shall be subordinate to Series B Preferred Shares with
respect to the right of the holders thereof to participate in the assets of the Corporation distributable to shareholders upon
any liquidation, dissolution or winding up of the Corporation.</P>

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

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

<!-- Field: Page; Sequence: 2; Options: NewSection; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></P></DIV>
    <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: 0pt 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Parity Stock</B>&rdquo;
means the shares of all those classes and series of Preferred Stock or special stock, by the terms of the Articles or of the instrument
by which the Board of Directors, acting pursuant to authority granted in the Articles, shall designate the special rights and limitations
of each such class and series of Preferred Stock or special stock, which shall be on a parity with Series B Preferred Shares with
respect to the rights of the holders thereof to participate in the assets of the Corporation distributable to shareholders upon
any liquidation, dissolution or winding up of the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&ldquo;<B>Senior Stock</B>&rdquo;
means all those classes and series of Preferred Stock or special stock, by the terms of the Articles or of the instruction by which
the Board of Directors, acting pursuant to authority granted in the Articles, shall designate the special rights and limitations
of each such class and series of Preferred Stock or special stock, which shall be senior to Series B Preferred Shares with respect
to the right of the holders thereof to participate in the assets of the Corporation distributable to shareholders upon any liquidation,
dissolution or winding up of the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
7.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Consolidation, Merger, etc</U>.&nbsp; Subject to Section 9, upon any consummation of a binding share exchange or reclassification
involving the Series B Preferred Shares, or of a merger or consolidation of the Corporation with another corporation or other
entity, then either (x) the shares of Series B Preferred Shares shall remain outstanding or, (y) in the case of any such merger
or consolidation with respect to which the Corporation is not the surviving or resulting entity, then the Series B Preferred Shares
shall be converted into or exchanged for preferred securities of the surviving or resulting entity or its ultimate parent, and
in either case of (x) or (y) such shares remaining outstanding or such preferred securities, as the case may be, have such rights,
preferences, privileges and voting powers, and limitations and restrictions thereof, taken as a whole, as are not materially less
favorable to the holders thereof than the rights, preferences, privileges and voting powers, and limitations and restrictions
thereof, of Series B Preferred Shares immediately prior to such consummation, taken as a whole; provided, however, that for all
purposes of this Section 7, any increase in the authorized number of shares of Preferred Stock, including any increase in the
authorized number of Series B Preferred Shares, will not be deemed to adversely affect the rights, preferences, privileges or
voting powers of the holders of Series B Preferred Shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
8.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No Redemption</U>.&nbsp; The Series B Preferred Shares shall not be redeemable.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
9.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Amendment</U>.&nbsp; At any time when any Series B Preferred Shares are outstanding, none of this Statement of Designation,
the Articles, or the Bylaws of the Corporation shall be amended (including by merger, consolidation or otherwise) in any manner
which would materially or adversely alter, change or affect the powers, preferences or rights of the Series B Preferred Shares
without the affirmative vote of the holders of a majority of the outstanding Series B Preferred Shares, voting separately as a
class.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
10.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Transferability</U>.
Notwithstanding anything to the contrary in this Statement of Designation, holders of Series B Preferred Shares shall not Transfer
(as defined below) the Series B Preferred Shares to any person or entity. Any purported Transfer of the Series B Preferred Shares
shall be null and void and shall have no force or effect. &ldquo;Transfer&rdquo; shall mean directly or indirectly (i) any sale,
assignment, encumbrance, hypothecation, pledge, conveyance in trust, gift or other transfer or disposition of any kind, including,
but not limited to, transfers to receivers, levying creditors, trustees or receivers in bankruptcy proceedings or general assignees
for the benefit of creditors, whether voluntary or by operation of law, directly or indirectly, of Series B Preferred Shares or
(ii) any change in the record or beneficial ownership of the Series B Preferred Shares after the date of their issuance, in each
case that is not approved in advance by the Board of Directors; and provided, however, that notwithstanding anything to the contrary
in this Statement of Designation under no circumstances may more than one person or entity, at any time, be a record holder of
any Series B Preferred Shares, and all issued and outstanding Series B Preferred Shares must be held of record by one holder.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
11.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Fractional Shares</U>.
Series B Preferred Stock may not be issued in fractional shares.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
12.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Notices</U>. Any
notice to be delivered hereunder shall be delivered (via overnight courier, facsimile or email) to each holder at its last address
as it shall appear upon the books and records of the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
13.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Record Holders</U>.<B>&nbsp;
</B>To the fullest extent permitted by applicable law, the Corporation may deem and treat each holder of any Series B Preferred
Share as the true, lawful and absolute owner thereof for all purposes, and the Corporation shall not be affected by any notice
to the contrary.</P>

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

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

<!-- Field: Page; Sequence: 3; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></P></DIV>
    <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-left: 0.75in; text-indent: 0.75in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No Other Rights</U>.
The Series B Preferred Shares shall not have any voting powers, preferences or relative, participating, optional or other special
rights, or qualifications, limitations or restrictions thereof, other than as set forth in this Statement of Designation or in
the Articles or as provided by applicable law.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No Impairment</U>.
The Corporation shall not, by amendment of this Statement of Designation, through any reorganization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid or reduce the observance
or performance of any of the terms to be observed or performed under this Statement of Designation by the Corporation, but shall
at all times in good faith assist in the carrying out of all the provisions of this Statement of Designation and in the taking
of all such action as may be necessary or appropriate in order to protect the rights of the holders of the Series B Preferred
Shares against impairment.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Lost or Stolen Certificates</U>.
Upon receipt by the Corporation of evidence of the loss, theft, destruction or mutilation of any Series B Preferred Share certificate
(if any), and (in the case of loss, theft or destruction) of indemnity or security reasonably satisfactory to the Corporation,
and upon surrender and cancellation of the Series B Preferred Share certificate(s), if any, the Corporation shall execute and
deliver new Series B Preferred Share certificate(s) of like tenor and date.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Maturity</U>. The
Series B Preferred Shares shall be perpetual, unless purchased or otherwise acquired by the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section
18.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>No Preemptive Rights</U>.
No holders of Series B Preferred Shares will, as holders of Series B Preferred Shares, have any preemptive rights to purchase
or subscribe for Common Shares, Class B Shares or any other security of the Corporation.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">Section 19.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Severability; Headings</U>. If any provision of this Statement of Designation is invalid, illegal or unenforceable, the balance
of this Statement of Designation shall remain in effect, and if any provision is inapplicable to any person, entity or circumstance,
it shall nevertheless remain applicable to all other persons, entities and circumstances.&nbsp; Headings in this Statement of
Designation are for convenience of reference only and shall not be given any substantive effect in limiting or otherwise construing
any provision herein.</P>

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><I>REMAINDER OF PAGE INTENTIONALLY LEFT
BLANK</I></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">&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-top: 0pt; margin-bottom: 0pt; text-align: center"><I>&nbsp;</I></P>

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

<!-- Field: Page; Sequence: 4; Value: 2 -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="font-size: 10pt; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></P></DIV>
    <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: 0pt 0; text-align: center"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: justify">IN
WITNESS WHEREOF, this Statement of Designations is executed on behalf of the Corporation by its Secretary on this 12th day of
June, 2020.</P>

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

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: left; font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&nbsp;</TD>
    <TD STYLE="white-space: nowrap; text-align: left; font-size: 10pt; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT>&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left; font-size: 10pt; width: 28%">/s/ Olga Lambrianidou</TD>
    <TD STYLE="text-align: left; font-size: 10pt; width: 20%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: left; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Name: Olga Lambrianidou</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3" STYLE="text-align: left; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Title: &nbsp;&nbsp;Secretary</FONT></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-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">&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-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 9pt">Signature
Page to Statement of Designation &ndash; Series B Preferred</FONT></P>

<!-- Field: Page; Sequence: 5; Options: Last -->
    <DIV STYLE="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1pt solid"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

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



</BODY>
</HTML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
