Hofseth Biocare ASA: APPROVAL AND PUBLICATION OF PROSPECTUS

NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE'S REPUBLIC OF CHINA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL

Reference is made to the stock exchange announcements from Hofseth BioCare ASA (the "Company") on 16 October 2020 regarding completion of a private placement raising gross proceeds of NOK 200 million (the "Private Placement") and on 11 November 2020 regarding an application to Oslo Børs for a transfer of listing of the Company's shares from Euronext Expand to Oslo Børs (the "Transfer of Listing").

The Financial Supervisory Authority of Norway (Nw. Finanstilsynet) has on 3 December 2020, approved the Company's prospectus (the "Prospectus") prepared in connection with; (i) a subsequent offering of up to 4,938,271 new shares in the Company (the "Offer Shares"), each with a par value of NOK 0.01, at a subscription price of NOK 8.10 per offer share (the "Subsequent Offering"), and (ii) the Transfer of Listing.

The Prospectus will be published today and will, subject to applicable local securities laws, be available at . The Prospectus will also be available at the offices of the Company.

Please note that the Transfer of Listing has not yet been approved by Oslo Børs, and no assurance can be given that the Oslo Børs will approve the Transfer of Listing. Oslo Børs will discuss the Company's application for the Transfer of Listing, and, if approved, the first day of trading in the Company's shares on Oslo Børs will be on 14 December 2020.

The subscription period for the Subsequent Offering will commence on Monday 7 December 2020 at 09:00 CET and further information will be provided prior to commencement of the offer period.

Pareto Securities AS acts as manager in the Subsequent Offering (the "Manager"). Advokatfirmaet CLP DA acts as Norwegian legal counsel to Hofseth Biocare ASA.

For further information, please contact:

Jon Olav Ødegård, CFO at Hofseth BioCare ASA

Phone:

E-mail:  

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that develops high-value ingredients and finished products currently targeting the consumer health market. Research is ongoing to identify the individual elements within the products that modulate inflammation and the immune response with pre-clinical studies in multiple clinics and university research labs in several countries. Lead clinical and pre-clinical candidates are in development for the protection of the Gastro-Intestinal (GI) system against inflammation, including ulcerative colitis and the orphan condition necrotising enterocolitis, as a Medical Food to help treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia, all using peptide fractions of Salmon Protein Hydrolysate. Preclinical trial work with the oil is ongoing to ameliorate lung inflammation in eosinophilic asthma and COPD (“smokers lung”) as well as clinical work in COVID.

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 collagen-calcium from fresh salmon off-cuts. Hofseth BioCare's headquarters are in Ålesund, Norway with branches in Oslo, London, Zürich, Chicago, Menlo Park and Tokyo. HBC is listed on Euronext Expand Oslo with ticker "HBC". More information about Hofseth BioCare at  and  

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