Reference is made to the stock exchange announcement fromBlack Sea Property AS (the "Company") dated2 October 2023 regarding the successful placing of a private placement raising gross proceeds ofNOK 5,822,237 (the "Private Placement"), and to the resolution by the Company's extraordinary general meeting held on17 October 2023 to increase the share capital withNOK 5,822,237 through issuance of 23,288,948 new shares, each at a price per share and with a par value ofNOK 0.25 . The share capital increase pertaining to the Private Placement has now been registered with theNorwegian Register ofBusiness Enterprises . The Company's new registered share capital isNOK 24,573,313.50 divided by 98,301,254 shares, each with a par value ofNOK 0.25 . For further information, please contact: Egil Melkevik, Chairman Tel: +47 90 77 09 76 E-mail: em@ms-solutions.no AboutBlack Sea Property AS :Black Sea Property AS is a real estate company with holdings in a real estate project on the Black Sea coast calledSunrise River Beach Resort .Sunrise River Beach Resort is a partially completed project and will upon completion comprise approximately 950 apartments as well as significant commercial space.Black Sea Property AS has indirect ownership to the project and will work to finalizeSunrise River Beach Resort , to realize the project's added value through the sale of residential units and hotel operations.
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