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Hunter Group ASA

Share Issue/Capital Change Feb 23, 2017

3626_rns_2017-02-23_331aab3f-c09e-458a-a3ea-f6d02f91bc5b.html

Share Issue/Capital Change

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Badger Explorer ASA - Tradable shares

Badger Explorer ASA - Tradable shares

Reference is made to previous announcements from Badger Explorer ASA regarding

the private placement of 360,000,000 new shares conducted on 6th December 2016

(Private Placement I). These 360,000,000 new shares were issued on 16th January

2017 on a separate ISIN pending the publication of a listing prospectus.

The new shares pertaining to the Private Placement I have been transferred to

the Company's ordinary ISIN and are now tradable on Oslo Axess. Consequently all

of the company's 378,537,288 shares are tradable on Oslo Axess.

Information concerning the shares to be issued in connection with the Private

Placement II, Subsequent Offering I and Subsequent Offering II as described in

the prospectus dated 14th February 2017 will be provided in due course.

Stavanger, 23rd February 2017

For further information, please contact:

Gunnar Dolven, CFO, cell phone +47 908 53 168

Marcus Hansson, COB, cell phone +44 782 4460 691

www.bxpl.com

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