Final result of Subsequent Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, JAPAN, HONG KONG, SOUTH AFRICA OR THE
UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR
DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER
OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange notice from Norcod AS ("Norcod" or the
"Company") on 16 June 2023 regarding the start of the subscription period in the
subsequent offering (the "Subsequent Offering") of up to 1,333,333 new shares
(the "Offer Shares") at a subscription price of NOK 30 per share (the "Offer
Price"). 

The subscription period for the Subsequent Offering ended on Friday 30 January
at 16:30 CET. By the end of the subscription period, the Company had received
valid subscriptions for 328,267 shares in the Subsequent Offering. The board of
the Company has today resolved that a total of 328,267 offer shares will be
allocated at the Offer Price in accordance with the allocation criteria set out
in the registration prospectus, raising gross proceeds of NOK  9,848,010.

Notifications of allocated Offer Shares in the Subsequent Offering and the
corresponding amount to be paid by each subscriber will be sent out in a
separate letter to each subscriber. Investors that are allocated Offer Shares
can access information on the number of Offer Shares allocated through VPS on 5
July 2023. The due date for payment of the Offer Shares is on 6 July 2023. 

Subject to duly and timely payment of the Offer Shares by the subscribers, the
share capital increase pertaining to the Offer Shares is expected to be
registered in the Norwegian Register of Business Enterprises on or about 11 July
2023 and will be delivered to the VPS accounts of the subscribers shortly
thereafter. The Offer Shares will have equal rights and rank pari passu with the
Company's other shares.
 
ABG Sundal Collier ASA is acting as bookrunner for the Subsequent Offering (the
"Manager"). Advokatfirmaet Haavind AS is acting as legal counsel to Norcod.

For more information, please contact:

Christian Riber, 
CEO, Norcod AS
Tel: +47 905 37 990
E-mail: [email protected] 

Arne Kristian Hoset
CFO, Norcod AS
Tel: +47 988 10 282
E-mail: [email protected]


About Norcod:
Norcod AS' core business is commercial sea farming of cod but through ownership
and partnerships is involved in the entire value chain. Norcod's existing fish
farms are located in Mid-Norway with ideal conditions for cod. The company is
contributing to blue ocean value creation with minimal impact on the environment
while supporting local communities. Norcod is listed on Oslo's Euronext Growth
market.

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© Oslo Bors ASA, source Oslo Stock Exchange