Atlantic Sapphire ASA: Start of Subscription Period in Subsequent Offering


Miami, FL, 11 August 2022

Reference is made to the inventory alternate discover from Atlantic Sapphire ASA (the
"Company") printed on 29 June 2022 concerning the completion of a non-public
placement elevating gross proceeds of roughly NOK 1,231 million by way of
issuance of new shares in the Company (the "Private Placement") and the important thing
data discover dated 29 June 2022 concerning a possible subsequent providing
of as much as 9,000,000 new shares in the Company, every with a nominal worth of NOK
0.10 (the "Offer Shares" and the "Subsequent Offering"). Reference is
moreover made to the authorization granted to the Board of Directors of the
Company (the "Board") by a unprecedented normal assembly of the Company held on
20 July 2022 (the "EGM") and the inventory alternate discover concerning approval and
publication of a prospectus by the Norwegian Financial Supervisory Authority,
launched on 10 August 2022.

The Private Placement consisted of two tranches, one tranche of 18,000,000 new
shares ("Tranche 1") and one tranche of 42,060,976 new shares ("Tranche 2"). The
share capital improve pertaining to the brand new shares in Tranche 1 have been permitted
by the Board on 29 June 2022 and have been issued in the VPS on the unusual ISIN of
the Company's shares. The share capital improve pertaining to the brand new shares in
Tranche 2 have been permitted by the EGM on 20 July 2022 and have been issued in the VPS on
a separate ISIN, pending approval and publication of an inventory prospectus.

The Company has ready a prospectus for the itemizing of the Tranche 2 shares
and for finishing up the Subsequent Offering (the "Prospectus"). The Prospectus
was permitted by the Norwegian Financial Supervisory Authority on 10 August 2022,
and was printed on the following web sites on the identical day,, and on the web site of
the Company (

Further details about the Subsequent Offering

The Board has resolved to provoke the Subsequent Offering. The Subsequent
Offering consists of a suggestion of as much as 9,000,000 new shares at a subscription
worth of NOK 20.50 per Offer Share (the "Subscription Price") directed in the direction of
Eligible Shareholders (as outlined beneath), thereby elevating gross proceeds of up
to NOK 184.5 million. The Subscription Price in the Subsequent Offering is equal
to the subscription worth in the Private Placement. 

The Subsequent Offering is directed in the direction of the shareholders in the Company as
of 28 June 2022, as registered in the VPS on 30 June 2022 (the "Record Date"),
who (i) weren't included in the pre-sounding part of the Private Placement,
(ii) weren't allotted Offer Shares in the Private Placement, and (iii) aren't
resident in a jurisdiction the place such providing could be illegal or, for
jurisdictions apart from Norway, would require any prospectus, submitting,
registration or comparable motion (the "Eligible Shareholders"). Eligible
Shareholders will, based mostly on their registered holding in the VPS on the finish of
the Record date, be granted non-tradable subscription rights (the "Subscription
Rights") to subscribe for and be allotted Offer Shares in the Subsequent
Offering. The Company will concern 0.15924 Subscription Rights per 1 (one) Share
held in the Company registered as held on the Record Date.

The quantity of Subscription Rights issued to every Eligible Shareholder will likely be
rounded right down to the closest complete quantity of Subscription Rights with out
compensation to the holder. Each Subscription Right grants the holder the best
to subscribe for and be allotted 1 (one) Offer Share in the Subsequent
Offering. Oversubscription will likely be permitted. Subscription with out Subscription
Rights won't be permitted.

The subscription interval in the Subsequent Offering will start at the moment, on 11
August 2022 at 09:00 (CEST) and can shut on 24 August 2022 at 16:30 (CEST).

Allocation of the Offer Shares is predicted to happen on 25 August 2022, and
the fee for the Offer Shares allotted to a subscriber is predicted to fall
due on 29 August 2022. The Company expects that the share capital improve
pertaining to the Subsequent Offering will likely be registered with the Norwegian
Register of Business Enterprises (Nw: Foretaksregisteret) on or about 1
September 2022 and that the Offer Shares will likely be delivered to the VPS accounts
of the subscribers to whom they're allotted on or about 2 September 2022,
topic to well timed fee of the combination Subscription Price by the subscriber.

The completion of the Subsequent Offering is topic to the next
situations; (i) the Board resolving the mandatory company resolutions to hold
out the Subsequent Offering, together with the decision to concern the Offer Shares,
and (ii) that the share capital improve associated to the issuance of the Offer
Shares being registered with the Norwegian Register of Business Enterprises.

The Company reserves the Right to withdraw or cancel the Subsequent Offering at
any time and for any cause earlier than completion of the Subsequent Offering. If the
Subsequent Offering is withdrawn or not carried out, all subscriptions for Offer
Shares will likely be disregarded and any funds for Offer Shares will likely be returned to
the subscribers with out curiosity or some other compensation.

The full phrases and situations of the Subsequent Offering, and additional
details about the Company, is out there in the Prospectus.

DNB Markets, a component of DNB Bank ASA, acts as Sole Global Coordinator and Joint
Bookrunner and Arctic Securities AS acts as Joint Bookrunner in the Subsequent
Offering (collectively, the "Managers"). Advokatfirmaet CLP DA is appearing as authorized
advisor for the Company in reference to the Subsequent Offering.
Advokatfirmaet BAHR AS is appearing as authorized advisor for the Managers in connection
with the Subsequent Offering. 

For additional data, please contact:

Johan E. Andreassen 
Chairman, Atlantic Sapphire ASA, and CEO, Atlantic Sapphire USA LLC; 

Karl Øystein Øyehaug 
Managing Director, Atlantic Sapphire ASA, and Chief Financing Officer, Atlantic
Sapphire USA LLC

[email protected]

This data is topic to the disclosure necessities pursuant to the
Norwegian Securities Trading Act part 5-12.

About Atlantic Sapphire ASA 
Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming,
regionally, and reworking protein manufacturing, globally. Atlantic Sapphire has
been working its innovation heart in Denmark since 2011 with a robust focus
on R&D and innovation to equip the Company with the know-how and procedures
that allow the Company to commercially scale up manufacturing in finish markets shut
to the buyer. 

In the US, the Company has recognized and obtained the requisite permits to
assemble its Bluehouse® in the best location in Homestead, Florida, simply south
of Miami. The Company has accomplished Phase 1 development, which supplies the
capability to reap roughly 10,000 tons (HOG) of salmon yearly. The
Company accomplished its first business harvest in the US in September 2020.
Atlantic Sapphire is at the moment setting up its Phase 2 enlargement, which is able to
carry complete annual manufacturing capability to 25,000 tons, and has a focused
harvest quantity in 2031 of 220,000 tons.

Important data

The launch just isn't for publication or distribution, in complete or in half straight
or not directly, in or into Australia, Canada, Japan, Hong Kong, Switzerland or
the United States (together with its territories and possessions, any state of the
United States and the District of Columbia). This launch is an announcement
issued pursuant to authorized data obligations, and is topic of the
disclosure necessities pursuant to part 5-12 of the Norwegian Securities
Trading Act. It is issued for data functions solely, doesn't purport to be
full or full and doesn't represent or kind half of any supply or
solicitation to buy or subscribe for securities, in the United States or in
some other jurisdiction the place such supply of solicitation is illegal. The
securities talked about herein haven't been, and won't be, registered beneath the
United States Securities Act of 1933, as amended (the "US Securities Act"), or
beneath the relevant securities legal guidelines of Australia, Canada or Japan. The
securities is probably not provided or bought in the United States besides pursuant to an
exemption from the registration necessities of the US Securities Act. The
Company doesn't intend to register any portion of the providing of the
securities in the United States or to conduct a public providing of the
securities in the United States. Copies of this announcement aren't being made
and is probably not distributed or despatched into Australia, Canada, Japan or the United

The concern, subscription or buy of shares in the Company is topic to
particular authorized or regulatory restrictions in sure jurisdictions. Neither the
Company nor the Managers assume any duty in the occasion there's a
violation by any particular person of such restrictions. 

In any EEA Member State, this communication is just addressed to and is just
directed at certified buyers in that Member State throughout the which means of the
Prospectus Regulation, i.e., solely to buyers who can obtain the supply with out
an permitted prospectus in such EEA Member State. The expression "Prospectus
Regulation" means Regulation (EU) 2017/1129 (along with any relevant
implementing measures in any Member State).

In the United Kingdom, this communication is just addressed to and is just
directed at "certified buyers" throughout the which means of Regulation (EU)
2017/1129 because it types half of the legal guidelines of the United Kingdom by advantage of the
European Union (Withdrawal) Act 2018 (together with any statutory devices made
in train of the powers conferred by such act) who (i) are funding
professionals falling inside Article 19(5) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are
individuals falling inside Article 49(2)(a) to (d) of the Order (excessive internet price
corporations, unincorporated associations, and so forth.) (all such individuals collectively being
known as "Relevant Persons"). These supplies are directed solely at
Relevant Persons and should not be acted on or relied on by individuals who aren't
Relevant Persons. Any funding or funding exercise to which this
announcement relates is out there solely to Relevant Persons and will likely be engaged
in solely with Relevant Persons. Persons distributing this communication should
fulfill themselves that it's lawful to take action. 

Matters mentioned in this announcement could represent forward-looking
statements. Forward-looking statements are statements that aren't historic
details and could also be recognized by phrases akin to "anticipate", "imagine",
"proceed", "estimate", "count on", "intends", "could", "ought to", "will" and comparable
expressions. The forward-looking statements in this launch are based mostly upon
varied assumptions, many of that are based mostly, in flip, upon additional assumptions.
Although the Company believes that these assumptions have been cheap when made,
these assumptions are inherently topic to vital identified and unknown dangers,
uncertainties, contingencies and different vital components that are tough or
unattainable to foretell and are past its management. Such dangers, uncertainties,
contingencies and different vital components might trigger precise occasions to vary
materially from the expectations expressed or implied in this launch by such
forward-looking statements. The data, opinions and forward-looking
statements contained in this announcement communicate solely as at its date and are
topic to alter with out discover. This announcement is made by, and is the
duty of, the Company. The Managers are appearing completely for the
Company and nobody else and won't be accountable to anybody apart from the
Company for offering the protections afforded to their respective shoppers, or
for recommendation in relation to the contents of this announcement or any of the
issues referred to herein. The Managers and their respective associates
disclaim any obligation or enterprise to replace, assessment or revise any
forward-looking assertion contained in this announcement whether or not in consequence of
new data, future developments or in any other case.

The distribution of this launch could in sure jurisdictions be restricted by
regulation. Persons into whose possession this launch comes ought to inform themselves
about and observe any such restrictions. Any failure to adjust to these
restrictions could represent a violation of the securities legal guidelines of any such

 Neither the Managers nor any of their respective associates makes any
illustration or guarantee, specific or implied, as to the accuracy and
completeness of this announcement (or whether or not any data has been omitted
from the announcement) or as to some other data referring to the Company
its subsidiaries or related corporations, whether or not written, oral or in a visible
or digital kind, and howsoever transmitted or made accessible or for any loss
howsoever arising from any use of this announcement or its contents or in any other case
arising in connection therewith, and none of them accepts any duty for
the contents of this announcement or any issues referred to herein. This
announcement is for data functions solely and isn't to be relied upon in
substitution for the train of unbiased judgment. It just isn't supposed as
funding recommendation and not at all is it for use or thought of as
a suggestion to promote, or a solicitation of a suggestion to purchase any securities or a
advice to purchase or promote any securities of the Company. Neither the
Managers nor any of their respective associates accepts any legal responsibility arising
from the use of this announcement. 

In reference to any providing of the shares, the Managers and any of their
associates appearing as an investor for their very own account could take up as a
principal place in any shares and in that capability could retain, buy or
promote for their very own accounts such shares. In addition, they might enter into
financing preparations and swaps with buyers in reference to which they
could every now and then purchase, maintain or dispose of shares. They don't intend to
disclose the extent of any such funding or transactions in any other case than in
accordance with any authorized or regulatory obligation to take action.

Click right here for extra data

© Oslo Bors ASA, supply Oslo Stock Exchange

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