NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG 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.

Oslo, 8 December 2022: Reference is made to the stock exchange notice from Statt
Torsk ASA ("Statt Torsk" or the "Company") published on 8 December 2022
regarding a contemplated private placement of new shares. 

The Company is pleased to announce that it has raised approximately NOK 40
million in gross proceeds through a private placement (the "Private Placement")
of 23,529,411 shares (the "Offer Shares"), each at a price per share of NOK 1.7.
The Private Placement, together with the contemplated Subsequent Offering (as
defined below), will raise gross proceeds of up to NOK 50 million to the
Company.

The net proceeds from the Private Placement will be used to finance optimization
of harvest capacity, build-up of biomass on the Company's existing sites as well
as its new site at Apalset, and for general corporate purposes.

The Company's Board of Directors (the "Board) has today resolved the Private
Placement and allocated the Offer Shares. Notification of allotment and payment
instructions is expected to be issued to the applicants tomorrow, on 9 December
2022, by the Manager. The new shares in the Private Placement will be settled
through a delivery versus payment transaction on or about 13 December 2022 with
existing and unencumbered shares in the Company already admitted to trading on
Euronext Growth Oslo, pursuant to a share lending agreement entered into between
the Company, the Manager and Orinoco AS, a close associate of chairman of the
Board, Nicolas Brun-Lie. The Offer Shares delivered to the subscribers are thus
tradable from allocation. The Manager will settle the share loan with new shares
in the Company resolved issued by the Board today pursuant to an authorisation
granted by the Company's extraordinary general meeting held on 20 December 2021
(the "Authorisation"). 

Following the issue of the new shares, the Company will have a share capital of
NOK 21,029,259.8 divided into 210,292,598 shares, each with a nominal value of
NOK 0.10. 

The Company has considered the Private Placement in light of the equal treatment
obligations under the Norwegian Securities Trading Act and Oslo Børs' circular
no. 2/2014 and is of the opinion that the waiver of the preferential rights
inherent in a private placement, taking into consideration the time, costs and
risk of alternative methods of securing the desired funding, is in the common
interest of the shareholders of the Company. When reaching this conclusion, the
Board also emphasized that it intends to carry out the Subsequent Offering (as
defined below), as further described below.

The subsequent repair offering, if carried out, will consist of up to 5,882,352
new shares at the Offer Price with gross proceeds of up to approximately NOK 10
million to be resolved issued by the Board pursuant to the Authorisation (the
"Subsequent Offering"). The Subsequent Offering, if carried out, will, subject
to applicable securities law, be directed towards existing shareholders in the
Company as of 8 December 2022 (as registered in the VPS two trading days
thereafter), who (i) were not allocated Offer Shares in the Private Placement,
and (ii) are not resident in a jurisdiction where such offer would be unlawful
or would (in jurisdictions other than Norway) require any prospectus, filing,
registration or other similar action. The potential Subsequent Offering will be
subject to, among other things, approval by the Board. Launch of a Subsequent
Offering, if carried out, may also be contingent on publishing of a prospectus.


Advisors
SpareBank 1 Markets AS is acting as Sole Bookrunner in connection with the
Private Placement. Ro Sommernes is acting as legal advisor to the Company and
Advokatfirmaet Wiersholm AS is acting as legal advisor to the Manager.

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 the Norwegian Securities Trading Act. This stock exchange notice
was published by Bjug Borgund, CFO of the Company, on 8 December 2022 at 23:00
CET.

For more information