Aqua Bio Technology — M&A Activity 2023

Oct 27, 2023

Aqua Bio Technology ASA: Skinteam Norge AS enters into new partnership

Aqua Bio Technology ASA: Skinteam Norge AS enters into new partnership

27.10.2023 09:33:17 CEST | Aqua Bio Technology ASA | Non-regulatory press

releases

Skinteam Norge AS ("Skinteam"), has signed an agreement with Hare Norway AS

which gives Skinteam exclusive rights to market and distribute products and

services through Hare Norway's app.

Hare Norway AS is a company within the delivery service industry. The company

has an innovative delivery app that empowers customers to easily order and

receive a wide range of items, redefining convenience. They offer an extensive

selection of products, including food and beverages, footwear, clothing,

wellness products, and much more. Their vision is to challenge industry giants

like Foodora and Wolt, and they have had strong growth since their inception. In

Bergen, they currently have partnerships with over 50 companies, with a pipeline

of new partnerships. In Oslo, where they are gradually expanding after their

successful launch in Bergen, they already have 33 partnerships, and this number

is set to grow. See https://hareapp.no/

About Skinteam:

Skinteam is a retail chain that targets independent skincare and hairdressing

salons with "one stop shop" solutions. Skinteam offers a fully integrated

operating system for independent salons: white-label online store, membership

club, sales training, product training, advertising, AI app and high-quality

products. Skinteam was built up by the SATS founders Per Egil Borge and Bjørn

Sigurd Johansen. Skinteam offers independent salons a range of services,

enabling them to improve profitability without Skinteam assuming risk on the

salons' operational side.

All affiliated salons undertake to have Skinteam as the main supplier of

products, where approx 80% of sales over the counter and 100% of professional

products used in treatment are purchased from Skinteam. All income is channeled

through Skinteam centrally and paid to the partner salons in arrears enabling

Skinteam to capitalize on the growth in line with the salons' results while

taking limited liquidity risks.

Skinteam today has more than 1,000 paying members according to the model that

was developed in SATS. The memberships are either basic memberships or

memberships that include monthly treatments - at a higher price. All memberships

have a commitment period of 12 months, and are used across the verticals. The

membership club gives Skinteam and the partner salons higher income and in

addition provides recurring income.

***

For further information, please contact CEO Håvard Lindstrøm mobile phone +47

941 32 288.

Aqua Bio Technology (ABT) is developing and commercializing sustainable

biotechnology for use in skincare 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 skincare products developed by partners towards consumers and

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

ingredients and natural skincare 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.

DISCLOSURE REGULATION

This information is subject of the disclosure requirements pursuant to section

of 5-12 of the Norwegian Securities Trading Act.

CONTACTS

* Håvard Lindstrøm, 004794132288, hl@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/17847556/2704/3786/Download%20announcement

%20as%20PDF.pdf