NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANYOTHER
JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

(Oslo, 10 September 2020) Reference is made to the stock exchange release from
Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") published on 9
September 2020 regarding a contemplated private placement.

The Company announces that it has raised USD 100 million (~NOK 906 million) in
gross proceeds through a private placement (the "Private Placement") of 
8,877,451 new shares, at a price per share of NOK 102, equal to the closing
price on Oslo Stock Exchange. The Private Placement, which was significantly
oversubscribed, took place through an accelerated bookbuilding process managed
by DNB Markets, a part of DNB Bank ASA, as Sole Global Coordinator and Joint
Bookrunner and Arctic Securities AS as Joint Bookrunner (together, the
"Managers") after close of markets on 9 September 2020.

The net proceeds of the Private Placement will be used for
i)	Partly repayment and cancellation of existing credit facility (USD 20m term
loan) and repayment and cancellation of USD 30m in short-term facility - in
total USD 50m in repayment to DNB Bank ASA.
ii)	Strengthen balance sheet and general corporate purposes.
iii)	Acceleration of further expansion.

The new shares allocated in the Private Placement will be settled through a
delivery versus payment transaction on a regular T+2 basis by delivery of
existing and unencumbered shares in the Company that are already listed on Oslo
Stock Exchange pursuant to a share lending agreement between DNB Markets, the
Company and Alsco AS. The shares delivered to the investors will thus be
tradable upon delivery. The Board of Directors has resolved to issue 8,877,451
new shares in the Private Placement pursuant to an authorization to increase the
share capital, granted by the general meeting on 11 June 2020. Following
registration of the new share capital pertaining to the Private Placement, the
Company will have 80,163,551 shares outstanding, each with a par value of NOK
0.10.

The following primary insiders subscribed for and has been allocated shares in
the Private Placement at a subscription price of NOK 102 per share:

i)	Johan E. Andreassen, through Alsco AS, 239,691 shares.
ii)	Runar Vatne, through Vatne Equity AS, 502,778 shares.
iii)	Alexanders Reus, a member of the board, 100,000 shares.
iv)	Andre Skarbø, a member of the board, 88,727 shares.
v)	Tone Bjørnov, a member of the board, 2,000 shares.
vi)	Thue Holm, Co-founder and CTO, 25,000 shares.
vii)	Svein Taklo, Chief Infrastructure and Development Officer, 2,000 shares.
viii)	Dharma Rajeswaran, COO, 1,000 shares.

For an overview of total holdings following the completion of the Private
Placement, please see the attachment to this notice. 

The Board is of the opinion that the Private Placement complies with the equal
treatment obligations under the Norwegian Securities Trading Act and Oslo Børs'
Circular no. 2/2014, in particular due to the fact that (i) in the current
market, a private placement had a larger possibility of success compared to a
rights issue and, therefore, gives the Company timely access to the new capital
at lower risk; and (ii) the cost of raising capital is assumed to be lower than
in a rights issue since any discount is likely to be smaller and subscription
guarantees are avoided. On this basis, and based on an assessment of the current
equity markets, the Company's Board of Directors has considered the Private
Placement to be in the common interest of the Company and its shareholders. As a
consequence of the Private Placement structure, the shareholders' preferential
rights were deviated from.

Advokatfirmaet CLP DA has acted as legal counsel to the Company and
Advokatfirmaet BAHR AS has acted as legal counsel to the Joint Bookrunners.

For further information, please contact:

Johan E. Andreassen 
Chairman, Atlantic Sapphire ASA; 

or Karl Øystein Øyehaug 
Managing Director and Interim CFO, Atlantic Sapphire ASA 

About Atlantic Sapphire ASA
Atlantic Sapphire is pioneering Bluehouse® (land-raised) salmon farming,
locally, and transforming protein production, globally. Atlantic Sapphire has
been operating its innovation center in Denmark since 2011 with a strong focus
on R&D and innovation to equip the company with technology and procedures that
enables the company to commercially scale up production in end markets close to
the consumer. 

In the US, the company has since 2010 worked to identify and permit the ideal
location for Bluehouse® farming in Miami, Florida. The company is close to
completion of its phase 1 build out which is projected to harvest approximately
10,000 tons of salmon annually, beginning in Q3, 2020. The company has also
secured the key US water permits to produce up to 90,000 tons onsite, and has a
targeted harvest volume in 2031 of 220,000 tons.

This information is subject to the disclosure requirements pursuant to sections
5 -12 and 4-2 of the Norwegian Securities Trading Act.

Important information: The release is not for publication or distribution, in
whole or in part directly or indirectly, in or into Australia, Canada, Japan or
the United States (including its territories and possessions, any state of the
United States and the District of Columbia). This release is an announcement
issued pursuant to legal information obligations, and is subject of the
disclosure requirements pursuant to section 5-12 of the Norwegian Securities
Trading Act. It is issued for information purposes only, and does not constitute
or form part of any offer or solicitation to purchase or subscribe for
securities, in the United States or in any other jurisdiction. The securities
mentioned herein have not been, and will not be, registered under the United
States Securities Act of 1933, as amended (the "US Securities Act"). The
securities may not be offered or sold in the United States except pursuant to an
exemption from the registration requirements of the US Securities Act. The
Company does not intend to register any portion of the offering of the
securities in the United States or to conduct a public offering of the
securities in the United States. Copies of this announcement are not being made
and may not be distributed or sent into Australia, Canada, Japan or the United
States. 

The issue, subscription or purchase of shares in the Company is subject to
specific legal or regulatory restrictions in certain jurisdictions. Neither the
Company nor the Managers assume any responsibility in the event there is a
violation by any person of such restrictions. 

In any EEA Member State, this communication is only addressed to and is only
directed at qualified investors in that Member State within the meaning of the
Prospectus Regulation, i.e., only to investors 3 who can receive the offer
without an approved prospectus in such EEA Member State. The expression
"Prospectus Regulation" means Regulation (EU) 2017/1129 (together with any
applicable implementing measures in any Member State).

In the United Kingdom, this communication is only addressed to and is only
directed at Qualified Investors who (i) are investment professionals falling
within Article 19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling
within Article 49(2)(a) to (d) of the Order (high net worth companies,
unincorporated associations, etc.) (all such persons together being referred to
as "Relevant Persons"). These materials are directed only at Relevant Persons
and must not be acted on or relied on by persons who are not Relevant Persons.
Any investment or investment activity to which this announcement relates is
available only to Relevant Persons and will be engaged in only with Relevant
Persons. Persons distributing this communication must satisfy themselves that it
is lawful to do so. 
Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "anticipate", "believe",
"continue", "estimate", "expect", "intends", "may", "should", "will" and similar
expressions. The forward-looking statements in this release are based upon
various assumptions, many of which are based, in turn, upon further assumptions.
Although the Company believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and unknown risks,
uncertainties, contingencies and other important factors which are difficult or
impossible to predict and are beyond its control. Such risks, uncertainties,
contingencies and other important factors could cause actual events to differ
materially from the expectations expressed or implied in this release by such
forward-looking statements. The information, opinions and forwardlooking
statements contained in this announcement speak only as at its date and are
subject to change without notice. This announcement is made by and is the
responsibility of, the Company. The Managers are acting exclusively for the
Company and no one else and will not be responsible to anyone other than the
Company for providing the protections afforded to their respective clients, or
for advice in relation to the contents of this announcement or any of the
matters referred to herein.

The distribution of this release may in certain jurisdictions be restricted by
law. Persons into whose possession this release comes should inform themselves
about and observe any such restrictions. Any failure to comply with these
restrictions may constitute a violation of the securities laws of any such
jurisdiction. 

Neither the Managers nor any of their respective affiliates makes any
representation as to the accuracy or completeness of this announcement and none
of them accepts any responsibility for the contents of this announcement or any
matters referred to herein. This announcement is for information purposes only
and is not to be relied upon in substitution for the exercise of independent
judgment. It is not intended as investment advice and under no circumstances is
it to be used or considered as an offer to sell, or a solicitation of an offer
to buy any securities or a recommendation to buy or sell any securities of the
Company. Neither the Managers nor any of their respective affiliates accepts any
liability arising from the use of this announcement.

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