Atlantic Sapphire

Share Issue/Capital Change • Mar 11, 2024

Atlantic Sapphire ASA: Registration of Share Capital Increase

Atlantic Sapphire ASA: Registration of Share Capital Increase

Miami, FL, 11 March 2024

Reference is made to the stock exchange notice by Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") on 29 February 2024 regarding the completion of an underwritten private placement raising gross proceeds of approximately NOK 369 million through issuance of new shares in the Company (the "Private Placement").

The share capital increase related to the issuance of 156,080,000 new shares in the Company in tranche 1 of the Private Placement has been registered today in the Norwegian Register of Business Enterprises. The Company's new registered share capital is NOK 95,468,317.20, divided into 954,683,172 shares, each with a nominal value of NOK 0.10.

For further information, please contact:

Johan E. Andreassen, CEO;

or

Karl Øystein Øyehaug, CFO

investorrelations@atlanticsapphire.com

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

About Atlantic Sapphire ASA

Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming, locally, and transforming protein production, globally. Atlantic Sapphire operated its innovation center in Denmark from 2011 until 2021 with a strong focus on R&D and innovation to equip the Company with the technology and procedures that enable the Company to commercially scale up production in end markets close to the consumer. 

In the US, the Company holds the requisite permits and patents to construct its Bluehouse® in an ideal location in Homestead, Florida, just south of Miami. The Company's Phase 1 facility is in operation, which provides the capacity to harvest approximately 10,000 tons (HOG) of salmon annually. The Company completed its first commercial harvest in the US in September 2020. Atlantic Sapphire is currently constructing its Phase 2 expansion, which will bring total annual production capacity to 25,000 tons, and has a long-term targeted harvest volume of 220,000 tons.