AQUA BIO TECHNOLOGY ASA - RESULT OF PRIVATE PLACEMENT - PROPOSED CHANGES IN BOARD OF DIRECTORS

07.January 2019 at 08:00:00 CET

Reference is made to the stock exchange notice by Aqua Bio Technology ASA (the "Company") on 4 December 2018 regarding, inter alia, a private placement with gross proceeds of up to NOK 15 million through issuance of new shares at a subscription price of NOK 2.50 per share (the "Private Placement"). The investors in the Private Placement will also receive one (1) warrant per share applied for and allocated in the Private Placement.

The application period in the Private Placement ended on 3 January 2019 at 16.30 CET. At the end of the application period, the Company had received applications of approximately NOK 11.735 million in the Private Placement.

The Company's board of directors (the "Board") has now allocated shares and warrants in the Private Placement, which implies that the Board will propose that the general meeting to be held on 7 January 2019 resolves issuance of 4,694,000 new shares and 4,694,000 new warrants related to the Private Placement.

The Company's obligation to complete the Private Placement is conditional upon the following:

  • The Company's extraordinary general meeting resolving the proposed share capital decrease, the Private Placement and the issuance of the warrants;
  • Receipt of payments for share deposits in the Private Placement; and
  • Due registration of the proposed share capital decrease, the share capital increase pertaining to the Private Placement and the resolution to issue warrants in the Norwegian Register of Business Enterprises.

The Board will further propose that the general meeting that Roger Hofseth is elected as new Board member, in addition to the existing Board members. Roger Hofseth is the chief executive officer and founder of Hofseth BioCare ASA, and one of the largest shareholders in the Company.

For further information, please call Arvid Lindberg, Head of Sales & Marketing, telephone +47 9824 5410 or arvid@aquabiotech.no.

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 the Axess  market of the Oslo Stock Exchange.

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