Atlantic Sapphire ASA: Private placement successfully completed

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

(Oslo, 4 June 2021) Reference is made to the stock exchange release from
Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") published on 3 June
2021 regarding a contemplated private placement.

The Company announces that it has raised USD 121 million (NOK 1,016 million) in
gross proceeds through a private placement (the "Private Placement") of 
10,300,000 new shares, at a price per share of NOK 98.60, equal to the closing
price on Oslo Stock Exchange. The Private Placement, which was oversubscribed,
took place through an accelerated bookbuilding process managed by Arctic
Securities AS, BofA Securities, and DNB Markets, a part of DNB Bank ASA, as
Joint Global Coordinators and Joint Bookrunners (together, the "Managers") after
close of markets on 3 June 2021.

The net proceeds of the Private Placement will be used for:
i)	Partly finance Phase 2 construction anticipated to commence in Q2 2021
ii)	Acceleration of further expansion ("Grand Master Plan"). Initial, long lead
investments and construction of centralized infrastructure such as power and
chiller plant that will benefit subsequent buildouts 
iii)	General corporate purposes

The new shares to be issued in connection with the Private Placement will be
issued based on a Board authorization granted by the Company's annual general
meeting held on 12 May 2021 (the "AGM"). 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 certain existing shareholders of the Company, DNB
Markets, a part of DNB Bank ASA and the Company. The shares delivered to
investors in the Private Placement will thus be tradable upon allocation. 

DNB Markets will settle the share loan with new shares to be issued by the Board
pursuant to the authorisation granted by the AGM. New shares exceeding 6,705,259
that are delivered to the share lenders as settlement of the share loan will not
be listed or tradable on the Oslo Stock Exchange until a listing prospectus for
such shares has been approved by the Norwegian Financial Supervisory Authority,
and such shares will be issued under a separate ISIN pending approval and
publication of the listing prospectus.

The following primary insiders subscribed for and has been allocated shares in
the Private Placement at a subscription price of NOK 98.60 per share:

i)	André Skarbø, through ASInvest AS, 50,709 shares
ii)	Tone Bjørnov, 2,000 shares

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; (ii) the Private Placement was carried out at zero discount to
the current trading price, and (iii) 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, and that it will not be required to implement a subsequent
offering. As a consequence of the Private Placement structure, the shareholders'
preferential rights were deviated from.

Advokatfirmaet CLP DA is acting as a legal advisor for the Company in connection
with the Private Placement. Advokatfirmaet BAHR AS and Linklaters LLP are acting
as legal advisor to the Bookrunners in connection with the Private Placement.

For further information, please contact:

Johan E. Andreassen 
Chairman, Atlantic Sapphire ASA; 

or 

Karl Øystein Øyehaug 
Chief Financing Officer & Managing Director, Atlantic Sapphire ASA 

[e-mail]

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
enable 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 and performed its first commercial harvest in the
US in September 2020. The Company has 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 section 5
-12 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, does not purport to be
full or complete 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 where such offer of solicitation is unlawful. 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"), or
under the applicable securities laws of Australia, Canada or Japan. 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 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" within the meaning of Regulation (EU)
2017/1129 as it forms part of the laws of the United Kingdom by virtue of the
European Union (Withdrawal) Act 2018 (including any statutory instruments made
in exercise of the powers conferred by such act) 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 forward-looking
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 Managers and their respective affiliates
disclaim any obligation or undertaking to update, review or revise any forward
looking statement contained in this announcement whether as a result of new
information, future developments or otherwise. 

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 or warranty, express or implied, as to the accuracy and
completeness of this announcement (or whether any information has been omitted
from the announcement) or as to any other information relating to the Company
its subsidiaries or associated companies, whether written, oral or in a visual
or electronic form, and howsoever transmitted or made available or for any loss
howsoever arising from any use of this announcement or its contents or otherwise
arising in connection therewith, 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.

In connection with any offering of the shares, the Managers and any of their
affiliates acting as an investor for their own account may take up as a
principal position in any shares and in that capacity may retain, purchase or
sell for their own accounts such shares.  In addition they may enter into
financing arrangements and swaps with investors in connection with which they
may from time to time acquire, hold or dispose of shares.  They do not intend to
disclose the extent of any such investment or transactions otherwise than in
accordance with any legal or regulatory obligation to do so.

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