Miami, FL, 16 March 2023

Reference is made to the stock exchange release from Atlantic Sapphire ASA
("Atlantic Sapphire ASA or the "Company") published on 16 March 2023 regarding a
contemplated private placement. 

The Company is pleased to announce that it has raised the NOK equivalent of USD
55 million in gross proceeds through a private placement (the "Private
Placement") of 119,000,000 new shares, at a price per new share of NOK 5.00 (the
"Offer Shares" and the "Offer Price"), subject to satisfaction of the Conditions
(as defined below). The deal size in the Private Placement was up-sized based on
strong investor demand from the initially announced NOK equivalent of USD 50
million. The Private Placement was carried out on the basis of an accelerated
bookbuilding process managed by DNB Markets, a part of DNB Bank ASA, as Sole
Global Coordinator and Joint Bookrunner and Carnegie AS as Joint Bookrunner
(together, the "Managers") after close of markets on 16 March 2023.

The net proceeds from the Private Placement will be used to provide the Company
with sufficient financial runway, including a buffer, to achieve Phase 1
steady-state production and profitability. Any remaining cash buffer may be
utilized by the Company for Phase 2 expansion.

The following existing shareholders received allocations in line with their
pre-commitments as disclosed in the stock exchange notice regarding launch of
the Private Placement:

o	Nordlaks Holding AS, one of the largest and most profitable family-owned
salmon farming companies in the world, was allocated 21,611,600 Offer Shares at
the Offer Price, for a total subscription amount of NOK 108,058,000