Bodø, 24 June 2024:
Reference is made to the stock exchange announcement by Gigante Salmon AS (the
"Company") on 24 June 2024 regarding the registration of a share capital
increase pertaining to the private placement of 34,615,384 new shares in the
Company (the "Private Placement"), raising gross proceeds of NOK 225 million.

As further explained in the stock exchange announcement on 14 June 2024, Gigante
Havbruk AS has agreed to lend a total of 14,615,384 existing and unencumbered
shares in the Company, already being traded on Euronext Growth Oslo, to
SpareBank 1 Markets AS (the "Manager") for the Private Placement to be used for
settlement towards investors having been allocated shares in the Private
Placement.

The offer shares were lent to the Manager on 14 June 2024. Following the
registration of the share capital increase pertaining to the Private Placement,
the Manager has redelivered a total of 14,615,384 shares to Gigante Havbruk AS.

Gigante Havbruk AS is a company closely associated with Kjell Lorentsen, CEO of
the Company, and Kristian Lorentsen, board member of the Company. Primary
insider notification pursuant to the Market Abuse Regulation article 19 is
attached.

For more information, please contact:

Kjell Lorentsen, CEO
Phone: +47 911 22 688
E-mail: kjell@gigante.no

Rune Johansen, CFO 
Phone: +47 988 44 724
E-mail: rune@gigantesalmon.no

This information is subject to the disclosure requirements pursuant to
Regulation EU 596/2014 (MAR) article 19 and the Norwegian Securities Trading Act
section 5-12.

About Gigante Salmon AS:
Gigante Salmon AS is a land-based salmon farming company with its first
production facility under construction on Lille Indre Rosøy in Rødøy, Norway.
The Company's aquaculture concept is based on a flow-through system, combining
the benefits of conventional and land-based aquaculture while simultaneously
eliminating issues associated with conventional, sea based, farming. Visit
www.gigantesalmon.no for more information.