Atlantic Sapphire ASA: Resolution to issue shares - Employee share option exercise

Miami, FL, November 25th, 2020



Pursuant to an employee option agreement from 2017, 500,000 options in the
Company have been exercised.



On November 25th, 2020, the board of directors of the Company thus resolved to
carry out a share capital increase of NOK 50,000 through issuance of 500,000 new
shares, each with a par value of NOK 0.10 directed towards the option holder.
The new shares are issued by the board pursuant to an authorization granted by
the Company's general meeting on June 20th, 2019. 



The new shares will be subscribed on or before December 1st, 2020 and the price
to be paid for each share pursuant to the option agreement is NOK 28. The new
shares are expected to be issued mid-December 2020.



For further information, please contact:

Johan E. Andreassen
 
Chairman, Atlantic Sapphire ASA; 



Karl Øystein Øyehaug 

Managing Director & Interim CFO, 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
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 and performed its first commercial harvest in the
US in September 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.

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