Oslo (Norway), June 10th 2020 – Lavo.TV, Lavo.tv AS, a Norwegian-based
specialist in television streaming and consumer interaction (‘Lavo’), announces
that it has secured a new line of financing for NOK 12.5 million in convertible
loan from its historical backer and longtime shareholder European High Growth
Opportunities SF (‘EHGO’). The terms of this financing are set out below:

Characteristics of the financing

Lavo will enter into a completely new loan agreement with the European High
Growth Opportunities Securitization Fund, which is affiliated with Alpha Blue
Ocean. The funds will be used for necessary working capital and to help Lavo
realize its potential, as well as to repay certain debt of Lavo to EHGO under
its existing convertible loan note subscription agreement with EHGO (and as a
result, EHGO will not be converting certain of the outstanding loan notes of
Lavo which are held by EHGO).

The NOK 12.5 million loan will be disbursed in one tranche, will have a maturity
of one year and will bear a fixed interest rate of 5 percent per year (‘the
Loan’).

EHGO will have the right to convert the loan at a fixed conversion rate of NOK
0.05. However, Lavo can buy out the Loan during the period at the highest of (i)
the outstanding amount of the Loan, and (ii) an amount calculated as per the
following formula: "outstanding amount of the Loan * (daily VWAP on the date of
prepayment / 0.05). In addition, European High Growth Opportunities
Securitization Fund will receive 125,000,000 warrants, each with a right to
subscribe for one share in Lavo to a subscription price of NOK 0.12. In the
event of a share capital increase in Lavo, or upon issuance of warrants in Lavo,
in each case where the subscription price is lower, the subscription price shall
be automatically adjusted to equal the applicable subscription price in the
share capital increase or issuance of warrants. In consideration for the loan,
the Company shall pay an arrangement fee to EHGO of 5% of the entire amount of
the loan, which amount shall be paid in new shares to be issued by Lavo as soon
as practicable.  The number of shares issued to satisfy the payment obligation
with respect to the arrangement fee shall be equal to the arrangement fee /
(VWAP on the date of the loan * 0.95).


The loan is subject to approval of the convertible loan agreement pursuant to
section 3-8 of the Companies Act and the issuance of the warrants pursuant to
the loan is subject to the approval of the issuance of the warrants at the
company's annual general meeting.
 


For further information, please contact:

Lars Christian Beitnes
CEO 
Mail: lb@lavo.tv 

About LAVO.TV: 
LAVO.TV was launched in 2017 as a mobile service based on existing TV-concepts,
to offer direct video highlights and extra content for tv programs. As sports
became more relevant and focus of strategy for many TV companies, LAVO.TV
specialized in this service where all mobile users can find highlights both live
and edited TV sports snippets. The company has established itself as the leading
technology partner in the TV market and delivers finished services through the
app, LAVO.TV. The company is developing the possibilities for more effective
transactions between users, advertisers and content owners with block chain
technology and digital currency.

LAVO.TV is listed on the Merkur Market list on Oslo Stock Exchange with the
ticker LAVO-ME.