Proximar Seafood AS ("Proximar" or the "Company") is pleased to announce that
the construction contract and a final land purchase agreement with Daiwa House
Industry are signed. The construction preparations are set to start by the end
of 1st quarter 2021, which is in line with the previously communicated time
schedule. Signing of the contracts are important milestones for the company in
starting construction of the first large-scale RAS facility for Atlantic salmon
in Japan. 
 
"We are very pleased to have signed the construction contract, bringing us one
step closer to serving the Japanese market with fresh Atlantic salmon harvested
the same day. Having a strong local Japanese partner like Daiwa House Industry
involved in this project has a significant value for us and we appreciate the
close relationship we have built over time. After years of preparations and
planning together with Daiwa House Industry and Aqua Maof, all parties have a
detailed understanding of how to move through the construction steps. We are
therefore very confident about the execution", says Joachim Nielsen, CEO of
Proximar. 
 
The construction contract is related to civil works, representing a value of
approximately JPY 6 billion. The facility is located at the foot of the iconic
Mt Fuji, in proximity to the 38 million inhabitants in the greater Tokyo area.
From the facility, Proximar will serve the Japanese market with the freshest
Atlantic salmon available, raised in a sustainable environment and in high
quality groundwater from Mt. Fuji.
 
Daiwa House Industry is a Japanese Construction company with ~47,000 employees
and an annual revenue of about USD 40 billion. Daiwa House Industry is by
Proximar considered as a strong long-term local partner with excellent execution
capabilities. The two companies have, together with RAS technology provider Aqua
Maof, been working closely together since 2018 on designing and construction
planning. 
 
For more information, please contact:
Joachim Nielsen, CEO, +47 92 85 55 59, jn@proximarseafood.no 
Pål K. Grimsrud, CFO, +47 99 47 75 99, pkg@proximarseafood.no

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