Andfjord Salmon

Andfjord Salmon AS: Cancellation of Subsequent Offering

29.7.2023 13:02:31 CEST | Andfjord Salmon | Total number of voting rights and

capital

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN

AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S

REPUBLIC OF CHINA, SOUTH AFRICA, NEW ZEALAND, JAPAN, THE UNITED STATES, THE

UNITED KINGDOM OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR

DISTRIBUTION WOULD BE UNLAWFUL.

Reference is made to the stock exchange notice published by Andfjord Salmon AS

("Andfjord Salmon" or the "Company") on 27 June 2023 regarding the successful

private placement of 15,974,026 new shares in the Company (the "Private

Placement"), and that the Company intended to carry out a subsequent offering of

up to 2,077,923 new shares in the Company (the "Subsequent Offering"),

depending, inter alia, on the development of the price of the shares in the

Company after completion of the Private Placement.

The board of directors of the Company has resolved not to proceed with the

Subsequent Offering.

The background for the cancellation is that the Company's shares have traded

below the subscription price in the Private Placement for a substantial period

of time and at significant volumes. Shareholders wishing to reduce the dilutive

effect of the Private Placement have thus had the opportunity to purchase shares

in the market at prices below the price which would have been the subscription

price in the Subsequent Offering.

CONTACTS

* Investors: Bjarne Martinsen, CFO, Andfjord Salmon AS, +47 975 08 345,

* Media: Martin Rasmussen, CEO, Andfjord Salmon AS, +47 975 08 665,

ABOUT ANDFJORD SALMON

Located at Kvalnes on the island of Andøya on the Arctic Archipelago of

Vesterålen, Norway, Andfjord Salmon has developed an innovative and sustainable

aquaculture concept for land-based farming of Atlantic salmon, based on a

flow-through technology solution. The company's ambition is to build the world's

most sustainable and fish-friendly aquaculture facility of its kind.

Andfjord Salmon AS is listed on Euronext Growth under the ticker ANDF.

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