Black Sea Property AS

Regulatory Filings • Jun 28, 2022

Black Sea Property AS: Minor postponement of opening

Black Sea Property AS: Minor postponement of opening

Reference is made to the stock exchange notice from Black Sea Property AS (the "Company") on 26 June 2022 regarding opening of the Sunrise Gardens Resort (the "Resort"). The Company has been informed that there will be a minor postponement of the opening of the Resort in order to conduct all necessary testing and finalization of the facilities of the Resort. The Resort is now expected to open within the coming 10-day period, i.e. within 8 July 2022.

For further information, please contact:

Egil Melkevik, Chairman

Tel: +47 90 77 09 76

E-mail: em@ms-solutions.no

About Black Sea Property AS:

Black Sea Property AS is a real estate company with holdings in a real estate project on the Black Sea

coast called Sunrise Gardens. Sunrise Gardens Resort is a partially completed project and will upon completion comprise approximately 950 apartments as well as significant commercial space. Black Sea Property AS owns indirectly 75% of the project. Black Sea Property AS will work to finalize Sunrise Gardens Resort, to realize the project's added value through the sale of residential units and hotel operations.