SoftOx Solutions AS — Capital/Financing Update 2021

Oct 14, 2021

SoftOx Solutions AS: Strengthens the liquidity

SoftOx Solutions AS: Strengthens the liquidity

The board of SoftOx Solutions AS has entered into a loan agreement with Almhaug Bolig AS, where the main shareholder is one of the shareholders. Almhaug Bolig AS will provide the company with a short-term loan of NOK 15 million.

“In the last year, the company has experienced some delays both in connection with regulatory processes with the authorities and in the implementation of certain clinical studies. To compensate for the liquidity burden caused by these delays, the company’s main shareholder has given the company a loan of NOK 15 million. Additional supply of liquidity may be considered if desired. The company is grateful that the company’s main shareholder shows his support for the company I this situation. It is important for the company to have owners who are dynamic and support the company financially in such situations”, says CEO Geir Almaas of SoftOx Solutions.

“We work with several exciting processes. Among other things, we recently received approval from the Danish Medicines Agency to start SIS (SoftOx Inhalation solution) studies in humans. For us, this is a very exciting race, which we have high expectations for”, Almås continues.

The loan has a maturity of 12 months and is not interest-bearing. The loan will in principle be repaid in cash, but until the maturity of the loan, Almhaug Bolig AS will have the right to convert the loan into equity in the company by issuing new shares at a price equal to the volume- weighted average share price in the last five days before entering into the agreement, minus five percent, NOK 38,551 per share. The board is of the opinion that the discount is commercially justified as the loan is interest-free. If the company carries out a share issue before the loan matures or is converted into shares, Almhaug Bolig AS will have the right to convert the loan into shares at the same price per share as the subscription price in such an issue.

New shares that may be issued in connection with the conversion right will be approved by the company's board in accordance with the authorization given by the annual general meeting on 13 April 2021. The board has assessed the loan agreement and the right of conversion in relation to the rules on equal treatment and is of the opinion that there is a valid reason for differential treatment.

For further information, please contact:

CEO Geir Almås of SoftOx Solutions AS, or

CFO Kristine M. Rød of SoftOx Solutions AS

Mail: ir@soft-ox.com

Mobile: (+47) 948 59 599

About SoftOx Solutions AS

SoftOx Solutions AS (Softx, listed on Euronext Growth Oslo) is a Norwegian

BioTech company based in Oslo with the aim of helping to combat major threats to

human health, namely the emergence of antimicrobial resistance (AMR), biofilm

infections in chronic wounds and the spread of viruses. For more information on

SoftOx, visit www.soft-ox.com