GIGANTE SALMON Bodø,Norway ,23 April 2024 Reference is made to the stock exchange announcement dated19 March 2024 , regarding updated cost increase for completion of production facility in Rødøy, of approximately MNOK 350 beyond the previous investment estimate. As previously announced,Gigante Salmon AS (the "Company") intends to cover the cost increase through a combination of equity and debt financing. The Company is pleased to announce that the Company has successfully received a commitment for a loan of MNOK 120 fromSpareBank 1 Nord-Norge . The loan commitment is supported by Export Finance Norway (Eksfin). Further, Gigante Havbruk AS (the Company's largest shareholder) has confirmed that it supports an equity financing of the Company for a total subscription amount up to MNOK 130. The Company raised MNOK 100 more than the at the time identified capital need in its private placement completed inOctober 2023 . Thus, with the MNOK 100 from the private placement inOctober 2023 , debt financing of MNOK 120 fromSpareBank 1 Nord-Norge and a contemplated equity financing with an indication of interest from Gigante Havbruk AS to invest MNOK 130,Gigante Salmon AS has a structured plan to cover the approximately MNOK 350 cost increase for the construction work in Rødøy. The Company's board of directors has engaged Sparebank 1 Markets (the "Manager") to act as financial advisor in connection with the contemplated equity financing. Together with the Company the Manager expects to initiate discussions with key shareholders and investors and that an equity financing will be feasible to complete in second quarter of 2024. Any transactions as described above remains subject to market conditions and necessary corporate resolutions. For further information, please contact:Kjell Arild Lorentsen , CEO E-mail: kjell@gigante.no Phone: +47 911 22 688Rune Johansen , CFO E-mail: rune@gigantesalmon.no Phone: +47 988 44 724 Gigante Salmon: Gigante Salmon is a land-based salmon farming company with its first production facility under construction on Lille Indre Rosøy in Rødøy,Norway . The Company's aquaculture concept is based on a flow-through system, combining the benefits of conventional and land-based aquaculture while simultaneously eliminating issues associated with conventional, sea based, farming. Visit www.gigantesalmon.no for more information. Important notice: This information is considered to be inside information pursuant to the EU Market Abuse Regulation (MAR) and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. The stock exchange announcement was published byRune Johansen , CFO inGigante Salmon AS , at the time and date stated above in this announcement. Neither this announcement nor anything contained herein constitutes a financial promotion, or an invitation or inducement to acquire or sell securities in any jurisdiction. 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. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Copies of this announcement are not being made and may not be distributed or sent into any jurisdiction in which such distribution would be unlawful or would require registration or other measures. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. This announcement contains statements regarding the prospects and strategies of the Company. These statements are sometimes identified by the use of the future or conditional tense, or by the use of forward-looking terms such as "considers", "envisages", "believes", "aims", "expects", "intends", "should", "anticipates", "estimates", "thinks", "wishes" and "might", or, if applicable, the negative form of such terms and similar expressions or similar terminology. Such information is not historical in nature and should not be interpreted as a guarantee of future performance. Such information is based on data, assumptions, and estimates that the Company considers reasonable. Such information is subject to change or modification based on uncertainties in the economic, financial, competitive or regulatory environments. The Company's forward-looking statements speak only as of the date of this announcement. Absent any applicable legal or regulatory requirements, the Company expressly disclaims any obligation to release any updates to any forward-looking statements contained in this announcement to reflect any change in its expectations or any change in events, conditions, or circumstances, on which any forward-looking statement contained in this announcement is based. The Company operates in a competitive and rapidly evolving environment; it is therefore unable to anticipate all risks, uncertainties or other factors that may affect its business, their potential impact on its business or the extent to which the occurrence of a risk or combination of risks could have significantly different results from those set out in any forward-looking statements, it being noted that such forward-looking statements do not constitute a guarantee of actual results.
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