Saga Pure - Capital/Financing Update 2021

SAGA PURE - RESOLUTION TO INCREASE THE SHARE CAPITAL INCREASE IN CONNECTION WITH SUBSEQUENT OFFERINGS

Oslo, 10 January 2021

Reference is made to the stock exchange announcement on 30 December 2020

regarding information on three subsequent offerings in Saga Pure ASA ("Saga" or

the "Company"). The board of directors of Saga has today, 10 January 2021,

pursuant to the authorisation granted to it by the extraordinary general meeting

held on 10 November 2020, resolved to increase the share capital by up to a

total of NOK 137,000 through issuance of up to a total of 13,700,000 new shares,

each with a par value of NOK 0.01, in connection with subsequent offerings in

the Company.

The share capital increases have been resolved to carry out; (i) a subsequent

offering following the private placement completed on 14 December 2020

("Subsequent Offering I"), (ii) a subsequent offering following the private

placement completed on 21 December 2020 ("Subsequent Offering II"), and (iii) a

subsequent offering following the private placement completed on 29 December

2020 ("Subsequent Offering III" and together with Subsequent Offering I and

Subsequent Offering II, the "Subsequent Offerings").

The share capital increases are divided as following, (i) a share capital

increase by up to NOK 40,000 in the Subsequent Offering I, through issuance of

up to 4,000,000 new shares at a subscription price of NOK 2.10, (ii) a share

capital increase by up to NOK 49,000 in the Subsequent Offering II, through

issuance of up to 4,900,000 new shares at a subscription price of NOK 2.90, and

(iii) a share capital increase by up to NOK 48,000 in the Subsequent Offering

III, though issuance of up to 4,800,000 new shares at a subscription price of

NOK 4.10.

The completion of the Subsequent Offerings is conditional upon the approval by

the Financial Supervisory Authority of Norway of a prospectus and the

publication of the same by the Company. The prospectus is expected to be

approved during the week commencing 11 January 2020, and the subscription

periods in the Subsequent Offerings will commence shortly thereafter. Further

information will be provided in due course.

For additional information, please contact:

Bjørn Simonsen, CEO, +47 97 17 98 21

Espen Lundaas, CFO, +47 92 43 14 17

This information is subject to the disclosure requirements pursuant to Section

5-12 the Norwegian Securities Trading Act

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