Trondheim, February 29th 2024

Norcod AS is thrilled to announce the successful completion of a private
placement totaling 170 million Norwegian Kroner (NOK), marked by
oversubscription and significant interest from existing and new investors. 
The private placement was executed at a rate of 12 NOK per share, resulting in
the issuance of 14.17 million new shares.

The robust support from our existing shareholders, led by Artha and Sirena
Group, reflects their enduring commitment to Norcod and its long-term vision. We
extend our gratitude to all our existing shareholders who supported for their
continued trust and confidence.
In addition to that we are honored and delighted to welcome a new and strong
industrial investor into the Norcod family. Leading North American value-added
frozen seafood company High Liner Foods, based in Lunenburg Nova Scotia, Canada
is investing 5 million USD (app. 52,5 million NOK) into Norcod. 
High Liner will receive an approximately 10% share ownership for the investment
and a place on the board, which will be assumed by Paul Jewer, President & CEO
of High Liner Foods, emphasizing the significance of High Liner's involvement in
Norcod's journey.

The strategic partnership with High Liner Foods is poised to fortify our
presence in the North American market, where we perceive substantial potential
for our high-quality fish products.
The commitment from High Liner Foods is a result of a positive assessment of the
Norcod management and operations. In a news release issued by High Liner Foods
today, Paul Jewer expresses his endorsement and is impressed with Norcod's
leadership team and Norcod's proven production record and expertise as well.
Statements from Christian Riber, CEO of Norcod, on the successful private
placement and entry from High Liner Foods as new investor:

"We are very satisfied on how we have executed the private placement and have
achieved to raise the targeted capital. It demonstrates the confidence our
investors, existing as well as new ones, have in Norcod's strategic direction
and growth potential. That is really a boost for Norcod going forward."

"At Norcod we are excited about the addition of High Liner Foods as a strategic
partner and as a new investor, which is significant news for Norcod. We are
excited about the opportunities this partnership and collaboration brings,
especially in strengthening our position in the North American market. Paul
Jewer's presence on Norcod's board also strengthens our confidence towards the
future, where we aim to be a key player in the global seafood industry.
Expansion in the North American markets plays a pivotal role in achieving this
objective."

High Liner Foods: A Brief Overview
o	High Liner Foods is a 125-year-old family-founded company based in Lunenburg,
Nova Scotia, Canada.
o	As a leading North American processor and marketer of value-added seafood,
Highliner operate processing facilities in Nova Scotia, Virginia, and New
Hampshire.

Key facts about High Liner Foods:

o	A publicly-traded Canadian company, listed on the Toronto Stock Exchange
(XTSE:HLF).
o	Well-known and respected brands sold across the United States and Canada, in
both the Retail and Foodservice channels.
o	Annual turnover of USD 1.1 billion.
o	Selling over 250 million pounds (116,000 metric tons) of seafood annually.
o	Cod constitutes 20% of the company's volume, amounting to approximately 23,000
metric tons of finished product.

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© Oslo Bors ASA, source Oslo Stock Exchange