PROXIMAR SEAFOOD 5 June 2023 -Proximar Seafood AS ("Proximar" or the "Company") has through its subsidiary,Proximar Ltd , made the first drawdown under theJPY 8.8 billion blue-sustainability loan facility. The loan is provided byMizuho Bank ,Shizuoka Bank andDevelopment Bank of Japan . Part of the proceeds from the drawdown is used to finance the completion of the land purchase agreement with Daiwa House. The land has until now been partly financed through a seller credit granted by Daiwa House, the main contractor to Proximar. "We are pleased to successfully make the first drawdown of our bank loan and completing the land purchase agreement with the full downpayment to Daiwa House of the seller credit. The strong support from Daiwa House since 2018, including the seller credit provided, has been crucial for Proximar during the years of start-up and construction," says CEOJoachim Nielsen . The construction of the grow-out facility is continuing with high activity and is expected to be completed in third quarter 2023. The completion is aligned with the timing of the transfer of the first batch from the Nursery department to the Grow-out. The production is moving forward according to expectations with monthly inserts of eggs. The water treatment is demonstrating stable and good performance and the fish growth is according to the production plan. For more information, please contact:Pål K. Grimsrud , CFO, +47 99 47 75 99, pkg@proximar.comJoachim Nielsen , CEO, +81 70 2811 9898, jn@proximar.com AboutProximar Seafood Proximar Seafood is a Norwegian land-based salmon farming company with its first facility and production at the foot ofMount Fuji inJapan . The company inserted its first batch of eggs inOctober 2022 . Through land-based fish farming, using high-quality ground water secured close toMount Fuji , the company will produce fresh Atlantic Salmon, harvested the same day. Proximar's location, near one of the world's most important fish markets, implies significant advantages, both in terms of reduced cost and carbon footprint.
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