Crown Energy's share has been listed on NGM Main Regulated since 2011. Crown Energy has now initiated a transformation of the company's operations from oil and gas to sustainable operations such as MedTech. The company's Board of Directors and Management have now initiated the work required to prepare the company for a change of list to Nasdaq First North. The goal is to carry out the list change in the second half of 2023.

"The transformation that we have now initiated in Crown Energy means that we will leave oil and gas operations and instead focus on sustainable businesses such as MedTech," says Yoav Ben-Eli, CEO of Crown Energy. We started this journey in the autumn of 2021 when we signed a sales agreement regarding our exploration licenses. To date, we have received USD 99 million and will receive at least another USD 81 million the next years. In addition, we have discontinued our other concessions in Africa.

"We announced in February this year that we had made the first investment in our new direction: the purchase of 85% of SmarTee S.a.r.l. and the AccYouRate Group in Italy. AccYouRate has an exciting, patented technology that enables measuring people's health indicators through printed polymetric ink on fabric in a t-shirt. This data gathering service can be of important use in the care of dementia patients or other sick patients, but also beneficial for healthy people especially those in tough or stressful situations. We assess that changing the list to Nasdaq First North Growth Market can improve our visibility and creates opportunity for more investors to find us, resulting in an increased trading volume for the share. It is further assessed to create and increased interest in the company and the business from research analysts, the public, institutional investors and other stakeholders” continues Yoav Ben-Eli, CEO Crown Energy AB

MORE INFORMATION

Please contact Yoav Ben-Eli, CEO, Crown Energy AB

+46 8 400 207 20

+46 76 312 9 793

ABOUT CROWN ENERGY

Crown Energy is an international group with a history within customised solutions for housing, offices and associated services, as well as oil and gas exploration. The group is now dedicated to its transformation into the new and more socially and environmentally responsible business direction contributing to a positive change, with a focus on the medical technology industry and on improving our green footprint. For more information, please visit www.crownenergy.se.

The company's Certified Adviser is Amudova | 08-54601758 | info@amudova.se