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FreeSeas Receives of NASDAQ Non-Compliance Letters

FreeSeas Inc. (Nasdaq:FREE), a transporter of dry-bulk cargoes through the ownership and operation of a fleet of Handysize and Handymax vessels, announced that the Company received letters dated June 21, 2012 and June 25, 2012 from The Nasdaq Stock Market stating that for the previous 30 consecutive business days, the bid price of the Company's common stock closed below the minimum $1.00 per share…