Banking agreement signed with Bank of Ningbo

Nordic Aqua (Ningbo) Co. Ltd. being the 100% owned daughter company of Nordic
Aqua Partners A/S, has today signed an agreement with Bank of Ningbo, Xiangshan
Branch, to provide banking services to its operation of the RAS based salmon
farm in Ningbo, China.  The agreement includes typical banking services for a
company in rapid development and is based on a long term partnership.  Bank of
Ningbo is a private bank with its headquarter in Ningbo, and with long
experience in providing banking services to wholly foreign owned companies in
China, including professional assistance and support within international
banking and foreign currency.

The agreement also includes a conditional credit facility of RMB 35 million,
[NOK 47 million/EUR 4,6 million] which will be used as a typical working capital
facility.  Both parties have the objective to expand the credit facility as the
business develops.

Nordic Aqua (Ningbo) Co. Ltd. already has a committed credit facility of EUR
25,0 million, so the total undrawn credit facility therefore stands at EUR 29,6
million.

Nordic Aqua Partners A/S, through its 100% owned company in Ningbo, China,
Nordic Aqua (Ningbo) Co. Ltd. is well underway to build a RAS based salmon farm
in Ningbo, the first of its kind in China.  First inlay of salmon egg is
scheduled towards the end of this year, with the first harvest towards the end
of 2023.  Initial annual capacity in 2024 will be 4,000 tons, with a plan to
reach 20,000 tons on current location.

For further information, please contact Mr. Hjalti Hvitklett, CFO at:

Hjalti Hvítklett	Cheif Financial Officer 
Phone:			+298 221222 
E-mail:			hjalti@nordicaquapartners.com

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange