Miami, FL, June 28, 2022

Atlantic Sapphire ASA ("Atlantic Sapphire" or the "Company") has retained DNB
Markets, a part of DNB Bank ASA as Sole Global Coordinator and Joint Bookrunner
and Arctic Securities AS as Joint Bookrunner (together, the "Managers") to
advise on and effect a private placement (the "Private Placement") of the NOK
equivalent of approximately USD 125 million in new shares to be issued by the
Company (the "Offer Shares"). 

The net proceeds from the Private Placement will be used to (i) fully fund
estimated remaining equity financing of Phase 2 Capex based on latest capex
estimate, with an estimated buffer