Valoe Corporation                     Stock Exchange Release          18 May 2020 at 09.55 Finnish time

The Board of Directors of Valoe Corporation (“Company”) has, in order to implement the financing arrangement (“Financing Arrangement”) between the Company and Winance approved on 19 December 2018 in its entirety, resolved, on the basis of the authorization given by the annual general meeting held on 24 May 2019, to increase the number of the shares to be subscribed by Winance on the basis of the convertible notes and warrants pursuant to the Financing Arragement by a maximum of 18,705,876 shares out of which a maximum of 17,442,384 shares can be subscribed on the basis of convertible bonds and a maximum of 1,263,492 shares on the basis of warrants. The Company has disclosed the terms and conditions of the Financing Arrangement on 20 December 2018.

The Company has, on the basis of the share issues without consideration to the Company itself resolved by the Company on 15 July 2019 and 24 September 2019, resolved to subscribe a total of 7,750,000 shares directed to it.

The subscription is conducted in order to implement a part of the financing arrangement between the Company and Winance approved on 19 December 2018.

The new shares are of the same class as the Company’s other shares and entitle to the same shareholder rights as the Company’s old shares after their registration.

After the registration of the subscribed shares in the trade register, the total number of the shares in the Company is 142,074,388 shares of which 8,680,616 shares are held by the Company.

The subscribed shares are estimated to be registered in the trade register approximately on 22 May 2020 and the Company shall apply for the admission of the subscribed shares to public trading on the stock exchange list of Nasdaq Helsinki Ltd approximately on 25 May 2020.

In Mikkeli 18 May 2020

Valoe Corporation

Board of Directors

For more information:

Iikka Savisalo, President and CEO, Valoe Corporation
Tel. +358 40 521 6082
email: iikka.savisalo@valoe.com

Distribution:
NASDAQ OMX, Helsinki
Main media
www.valoe.com

Valoe Corporation specializes in the clean energy, especially in photovoltaic solutions. Valoe provides automated production technology for solar modules based on the company’s own technology; production lines for modules; solar modules and special components for solar modules. Valoe's head office is located in Mikkeli, Finland.