SoftOx Solutions AS: Status of bookbuilding

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN OR THE UNITED STATES OR ANY OTHER
JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THE
PRESS RELEASE.

Reference is made to the stock exchange announcements published by SoftOx
Solutions AS (“SoftOx” or the “Company” with Merkur ticker: “SOFTOX-ME”) earlier
today, on 12 December 2019 regarding the ongoing private placement (the “Private
Placement”).

Based on the orders received since commencement of the bookbuilding period,
SoftOx has decided to increase the Private Placement to raise gross proceeds of
approximately NOK 65 – 75 million. The managers have received orders such that
the Private Placement is covered within this range.
As a result, the Company will offer between 2,708,333 and 3,125,000 new shares
at a subscription price per share of NOK 24.

As previously announced, the bookbuilding period will close today, 12 December
2019, at 16:30 (CET).
Arctic Securities AS and SpareBank 1 Markets AS are acting as joint bookrunners
in the Private Placement.

For further information, please contact:
Mr. Geir H. Almås, CEO
Tel: +47 977 59 071
E-mail: geir.almaas@soft-ox.com

***
This release is an announcement issued pursuant to legal information
obligations, and is subject to disclosure under the Norwegian Securities Trading
Act, Section 5-12. It is issued for information purposes only, and does not
constitute or form a part of any offer or solicitation to purchase or subscribe
for securities in the United States, or any other jurisdiction in which such
distribution would be unlawful or would require registration or other measures.
The securities mentioned herein have not been, and will not be, registered under
the United States Securities Act of 1933, as amended (the "US Securities Act").
The securities may not be offered or sold in the United States except pursuant
to an exemption from the registration requirements of the US Securities Act. The
Company does not intend to register any portion of the offering of the
securities in the United States or to conduct a public offering of the
securities in the United States. Copies of this announcement are not being made
and may not be distributed or sent into Australia, Canada, Japan or the United
States.

The issue, subscription or purchase of shares in the Company is subject to
specific legal or regulatory restrictions in certain jurisdictions. Neither the
Company nor the Managers assume any responsibility in the event there is a
violation by any person of such restrictions.

The distribution of this release may in certain jurisdictions be restricted by
law. Persons into whose possession this release comes should inform themselves
about and observe any such restrictions. Any failure to comply with these
restrictions may constitute a violation of the securities laws of any such
jurisdiction.
The Managers are acting for the Company and no one else in connection with the
Private Placement
and will not be responsible to anyone other than the Company providing the
protections afforded to
their respective clients or for providing advice in relation to the Private
Placement and/or any other
matter referred to in this release.

Forward-looking statements: This release and any materials distributed in
connection with this release
may contain certain forward-looking statements. By their nature, forward-looking
statements involve
risk and uncertainty because they reflect the Company's current expectations and
assumptions as to
future events and circumstances that may not prove accurate. A number of
material factors could
cause actual results and developments to differ materially from those expressed
or implied by these
forward-looking statements.