Green Energy Group (Seabird Exploration Plc) announces update on subsequent offering, on offering prospectus and a trading update

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG 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.

GREEN ENERGY GROUP (SEABIRD EXPLORATION PLC) ANNOUNCES UPDATE ON SUBSEQUENT OFFERING, ON OFFERING PROSPECTUS AND A TRADING UPDATE

Reference is made to the inventory alternate releases by Green Energy Group (SeaBird Exploration Plc, the “Company“) on 14 January 2022 relating to the completion of a personal placement of recent shares (the “Private Placement“) and the decision to hold out a subsequent offering (the “Subsequent Offering“) of as much as 3,500,000 shares topic to the publication of an offering prospectus accredited by the related prospectus authority (the “Prospectus“).

The Company hereby supplies the next update with respect to the forthcoming Subsequent Offering.

The Prospectus

The Prospectus is predicted to be accredited by the prospectus authority on or round 4 May 2022. The last date of approval stays topic to uncertainty, and will probably be introduced within the abnormal method when accomplished.

The Subsequent Offering

The subscription interval for the Subsequent Offering is predicted to start on or round 5 May 2022 and expire at 16:30 (CET) on 12 May 2022. The Subsequent Offering will probably be directed on the Company’s shareholders as of shut of trading 13 January 2022, as subsequently recorded within the VPS on 17 January 2022 (the “Record Date“), who weren’t allotted shares within the Private Placement and who should not resident in a jurisdiction the place such offering could be illegal, or would (in jurisdictions apart from Norway) require any prospectus submitting, registration or related motion (the “Eligible Shareholders”). The subscription value will probably be NOK 2.25 per share. Oversubscription will probably be permitted.

Story continues

Each Eligible Shareholder will probably be granted one (1) non-transferable subscription proper (the “Subscription Rights”) for each 10 shares within the Company held by such Eligible Shareholder as of the Record Date rounded all the way down to the closest entire variety of Subscription Rights and every Subscription Right will give the correct to subscribe for and be allotted one (1) new share within the Company, rounded all the way down to the closest entire share within the Company.

Dates are topic to clarification. Final dates will probably be introduced when decided, and might differ from indicated dates.

Trading update

The Company refers to its announcement dated 23 January 2022 of a strategic overview, the place the Company introduced its ongoing efforts to consolidate its seismic property with different events, and the place it additionally introduced that it had obtained curiosity from potential companions in stated respect.

As a results of these efforts, the Company is happy to announce that it has signed a letter of intent (the “LoI“), granting exclusivity to a occasion for a time period to conduct due diligence in direction of the acquisition of 100% of the Company’s seismic operations by the use of a share buy settlement. The LoI additional states that the acquisition value shall be calculated on the idea of an enterprise worth of USD 53,000,000 on a money and debt free foundation, and with an agreed degree of working capital. The LoI is topic to the profitable conclusion of the continuing due diligence and different situations. There will be no assurance that the continuing course of will materialize in a transaction, or whether or not the phrases of any transaction will replicate the LoI. The Company will update on any important developments on this course of.

Contacts: Ståle Rodahl, Executive Chairman, ph: +47 4840 0593

This data is taken into account to be inside data pursuant to the EU Market Abuse Regulation. This inventory alternate announcement was printed by Green Energy Group (SeaBird Exploration PLC), on 28 April 2022 at 08.00 CET.

Important data:

The launch shouldn’t be for publication or distribution, in entire or partly instantly or not directly, in or into Australia, Canada, Japan 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. It is issued for data functions solely, and doesn’t represent or kind a part of any provide or solicitation to buy or subscribe for securities, within the United States or in another jurisdiction. 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”). The securities will not be supplied or offered within 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 offering of the securities within the United States or to conduct a public offering of the securities within the United States. Copies of this announcement should not being made and will not be distributed or despatched into Australia, Canada, Japan or the United States.

The concern, subscription or buy of shares within the Company is topic to particular authorized or regulatory restrictions in sure jurisdictions. The Company doesn’t assume any accountability within the occasion there may be a violation by any individual of such restrictions.

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

Forward-looking statements: This launch and any supplies distributed in reference to this launch might include sure forward-looking statements. By their nature, forward-looking statements contain threat and uncertainty as a result of they replicate the Company’s present expectations and assumptions as to future occasions and circumstances that will not show correct. Quite a lot of materials elements might trigger precise outcomes and developments to vary materially from these expressed or implied by these forward-looking statements.