Aqua Bio Technology — Share Issue/Capital Change 2021

Dec 12, 2021

AQUA BIO TECHNOLOGY ASA - COMPLETION OF PRIVATE PLACEMENT

AQUA BIO TECHNOLOGY ASA - COMPLETION OF PRIVATE PLACEMENT

13.12.2021 00:24:40 CET | 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 10 December 2021, regarding a contemplated private placement for

gross proceeds of minimum NOK 10 million and maximum NOK 15 million (the "

Private Placement") at a fixed subscription price of NOK 14 per new share (the "

Offer Shares") towards certain existing shareholders and certain new investors.

The board closed the application period in the Private Placement today 12

December 2021 at 2300 CET. The Company is pleased to announce that it has raised

NOK 12.89 million through the Private Placement and the Company's board of

Directors (the "Board") has allocated 920 714 Offer Shares to the investors in

the Private Placement. Notifications of allotment of the Offer Shares will be

sent to the investors on 13 December 2021.

The Board has formally resolved to issue the Offer Shares under a board

authorization granted by the general meeting on 9 June 2021. The payment for the

Offer Shares falls due on 17 December 2021. Subject to timely payment for all

allocated Offer Shares, the Company expects to deliver the Offer Shares on or

about 22 December 2021. The Offer Shares will be tradable from the delivery to

the investors.

Following registration of the Private Placement in the Norwegian Register of

Business Enterprises, the Company will have 20 623 792 outstanding shares, each

with a par value of NOK 2.50.

The net proceeds of the Private Placement will be used for general corporate

purposes, launch activities, R&D activities related to the production of

Aquabeautine XL, a contemplated rebranding project of the Moana Skincare brand,

development of private labels and other business development activities.

The Company has considered the Private Placement in light of the equal treatment

principles under the Norwegian Securities Trading Act and under the Oslo Rule

Book II for companies listed on Euronext Expand, and is of the opinion that the

proposed Private Placement is in compliant with these requirements. The Board

has emphasized that the subscription price in the Private Placement is in line

with todays closing trading price of the Company's shares. The Board has also

assessed alternative funding methods and considers that such funding methods

have a lower degree of expected success, and will be more time- and

resource-consuming. Taking into account the above, the Board of Directors is of

the opinion that the Private Placement is in the Company's and the shareholders'

joint interests.

For the reasons set out above, the Board has resolved not to carry out a

subsequent offering following the Private Placement.

* * *

For further information, please contact Håvard Lindstrøm, CEO, telephone +47 941

32 288.

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.

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/17847556/1059/1420/Download%20announcement

%20as%20PDF.pdf