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, 29 June 2022: Reference is made to the stock exchange notice from Statt
Torsk ASA ("Statt Torsk" or the "Company") published on 28 June 2022 regarding a
contemplated private placement of new shares. 

The Company is pleased to announce that it has raised approximately NOK 41.3
million in gross proceeds through a private placement (the "Private Placement")
of 20,650,480 shares (the "Offer Shares"), each at a price per share of NOK 2.0.


The net proceeds from the Private Placement will be used to finance build-up of
biomass to facilitate year-round delivery of farmed cod from H2 2022 (and is
expected to be sufficient till the Company reaches this milestone), and for
general corporate purposes. 

The Company's Board of Directors (the "Board) has today resolved and allocated
the Offer Shares. Notification of allotment and payment instructions is expected
to be issued to the applicants today by the Manager. The Offer Shares will be
settled through a delivery versus payment transaction on or about 1 July 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 our
chairman, Nicolas Brun-Lie. The Offer Shares delivered to the subscribers are
thus tradable from settlement. 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. 

Following the issue of the new shares, the Company will have a share capital of
NOK 18 676 318,70 divided into 186 763 187 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 the securing the desired funding is in the common
interest of the shareholders of the Company. By structuring the equity raise as
a private placement, the Company was able to raise equity efficiently, with a
lower discount to the current trading price, at a lower cost and with a
significantly lower risk compared to a rights issue. It has also been taken into
consideration that the Private Placement is based on a publicly announced
bookbuilding process. Further, the Offer Price in the Private Placement
represents limited discount compared to the closing trading price of the
Company's share as of 28 June 2022. Based on the foregoing, the limited dilution
of the Private Placement, and the costs and risks for completing a subsequent
repair offering, it is currently not planned to conduct a subsequent repair
issue directed towards shareholders not participating in the Private Placement.

Advisors
SpareBank 1 Markets AS acts as Lead Manager and Sole Bookrunner, and Danske
Bank, Norwegian branch as Co-Lead Manager (together the "Managers") 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 29 June 2022 at 08:30
CEST.

For more information