Aqua Bio Technology — Capital/Financing Update 2021

Apr 15, 2021

Aqua Bio Technology ASA - completion of private placement

Aqua Bio Technology ASA - completion of private placement

15.4.2021 08:10:01 CEST | Aqua Bio Technology ASA | Inside information

Aqua Bio Technology ASA - completion of private placement

Reference is made to the stock exchange notice by Aqua Bio Technology ASA (the "

Company") on

14 April 2021 regarding a contemplated private placement for gross proceeds of

up to approximately NOK 15 million (the "Private Placement") at a fixed

subscription price of

NOK 11.45 per new share (the "Offer Shares") towards Akvakulturpartner AS and

certain other external investors.

The application period in the Private Placement ended on 15 April 2021 at 08:00

CEST, and the Private Placement was well oversubscribed. Following the expiry of

the application period, the Company is pleased to announce that it has raised

NOK 14,927,445 through the Private Placement. The Company's board of Directors

(the "Board") has now allocated 1,303,707 Offer Shares to the investors in the

Private Placement. Akvakulturpartner AS has been allocated 698,690 Offer Shares.

Notifications of allotment of the Offer Shares will be sent to the investors on

or about 15 April 2021.

The delivery of the Offer Shares to Akvakulturpartner AS will be made with newly

issued shares on or about 15 May 2021, and such shares will be issued on a

separate, non-tradable ISIN, awaiting approval and publication of a listing

prospectus.

The delivery of Offer Shares to the other investors in the Private Placement

will be settled with existing and unencumbered shares in the Company that are

already listed on the Euronext Expand, pursuant to a share lending arrangement

with shareholder Kjeveortoped Espen Dahl AS. Settlement will be made on a

delivery-versus-payment, with latest payment date on 15 May 2021.

The Board expects to formally resolve to issue the Offer Shares to

Akvakulturpartner AS and the new shares to settle the share loan set out above

later this week. All such shares will be issued on a separate, non-tradable

ISIN, awaiting approval and publication of a listing prospectus.

The Board, together with the Company's management, has considered various

transaction alternatives to secure new financing. Based on an overall

assessment, taking into account inter alia the need for funding, execution risk

and possible alternatives, the Board has on the basis of careful considerations

decided that the Private Placement is the alternative that best protects the

Company's and the shareholders' joint interests. Reference was also made to the

fact that the Offer Shares have only been allocated to new investors in the

Company. Thus, the waiver of the preferential rights inherent in a share capital

increase through issuance of new shares is considered necessary.

* * *

For further information, please contact Edvard Cock, Chairman, telephone +47 415

05 004.

Aqua Bio Technology (ABT) is developing and commercializing sustainable

biotechnology for use in skin care products. ABT's cosmetics ingredients are

highly effective and they provide the cosmetics industry with natural

alternatives to traditional ingredients. ABT is also marketing and distributing

natural skin care products developed by partners towards consumers and

professional users. ABT's focus on commercialization and development of natural

ingredients and natural skin care products has been, and will continue to be, an

important part of the Company's strategy going forward.

Aqua Bio Technology is listed on the Euronext Expand market of the Oslo Stock

Exchange.

This information was considered to be inside information pursuant to the EU

Market Abuse Regulation, and is subject to the disclosure requirements pursuant

to section 5-12 of the Norwegian Securities Trading Act. The stock exchange

announcement was published by Håvard Lindstrøm, Head of Business Development, on

15 April 2021, at 8:15 CEST.

DISCLAIMER

This information is subject of the disclosure requirements pursuant to section

of 5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Espen Kvale, CEO, +47 916 28 092, espen.kvale@aquabiotech.no

ABOUT AQUA BIO TECHNOLOGY ASA

Aqua Bio Technology (ABT) is developing and commercializing sustainable

biotechnology for use in skin care products. ABT's cosmetics ingredients are

highly effective and they provide the cosmetics industry with natural

alternatives to traditional ingredients. ABT is also marketing and distributing

natural skin care products developed by partners towards consumers and

professional users. Aqua Bio Technology is listed on Euronext Expand.

ATTACHMENTS

Download announcement as PDF.pdf -

https://kommunikasjon.ntb.no/ir-files/17847556/452/581/Download%20announcement%2

0as%20PDF.pdf