Exercise of Warrants in summary

• The exercise period for the Warrants runs from September 11, 2023, until and including September 22, 2023.
• Three (3) Warrants entitle the holder to subscribe for one (1) new share in the Company at the exercise price of SEK 0.25 per share.
• The Warrants will be traded on Nasdaq First North Growth Market until and including September 20, 2023.
• Warrants that have not been exercised for subscription of new shares on September 22, 2023, at the latest, will expire without value.
• Holders of Warrants who have their holdings nominee-registered must notify their respective nominee of their intention to exercise their Warrants, for further instructions regarding subscription and payment. This should be done well in advance of September 22, 2023, as nominees have varying processing times.
• Holders of Warrants who have their holdings directly registered must fill out and submit a particular application form for the exercise, so that the application form is received by the issuing agent Nordic Issuing by September 22, 2023, at the latest. The form is available on the Company’s, Nordic Issuing AB’s, and Redeye’s respective websites (www.coalalife.com, www.nordic-issuing.se, www.redeye.se).
• Upon exercise of all Warrants, Coala Life will receive approximately SEK 13.7 million before issue costs, which are estimated to amount to approximately SEK 1 million, primarily attributable to advisor fees and processing costs.
• The exercise price of SEK 0.25 per new share has been set in accordance with the terms and conditions for the Warrants, according to which the exercise price per new share shall correspond to seventy (70) per cent of the weighted volume average price (WVAP) of the Company’s shares on Nasdaq First North Growth Market during a period of ten (10) trading days immediately preceding and including, September 8, 2023, but no less than SEK 0.25 and no more than SEK 0.7 per share. The complete terms and conditions for the Warrants can be found on the Company’s website, www.coalalife.com.

Increase in number of shares and share capital

Upon exercise of all 164,979,967 Warrants, the Company’s share capital will increase with SEK 13,748,330.50 to a total of SEK 86,047,942.25 through the issuance of 54,993,322 new shares, increasing the total number of outstanding shares and votes in the Company from 289,198,447 to 344,191,769. Upon full exercise of the Warrants, the dilution of shares and votes in the Company will amount to approximately 16.0 percent.

Advisors 

Redeye AB acts as financial advisor, Setterwalls Advokatbyrå AB acts as legal advisor, and Nordic Issuing acts as issuing agent in connection with the exercise of the Warrants.

IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in the Company. An invitation to the persons concerned to subscribe for units consisting of shares in the Company and Warrants has only been made through the prospectus and supplementary prospectus approved by the Swedish Financial Supervisory Authority (Sw. Finansinspektionen) and published on February 6, 2023 and February 14, 2023, respectively.