HBC Hofseth Biocare

Hofseth Biocare ASA: Signs new working capital credit line of NOK 37m

Hofseth Biocare ASA: Signs new working capital credit line of NOK 37m

Today, Hofseth BioCare ASA (“HBC”) has signed a new credit facility of up to NOK 37 million with SpareBank 1 Nordvest for working capital needs related to future sales contracts.

The credit line is secured against HBC’s accounts receivables and inventory at competitive terms.

For further information, please contact:

Jon Olav Ødegård, CFO of Hofseth BioCare ASA

Mob:

E-mail:

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products. Ingredients are further developed into discovery and pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are development towards a Gastro-Intestinal (GI) Protective Medical Food, Medical Food to help treat age-related Sarcopenia, and future phase 1 studies on treatment of Anemia and NEC-IBS with Salmon Protein Hydrolysate fractions.

The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC can preserve the quality of lipids, proteins and calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, Chicago, Mumbai, Palo Alto and Tokyo.

HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at hofsethbiocare.com and facebook.com/hofsethbiocare



This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act

EN
04/02/2020

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