Averøy, Norway, 29 June 2023
With reference to the stock exchange announcement of 15 December 2021.
Nordic Halibut AS (“NOHAL” or “the Company”) is pleased to announce that the first NOK 50 million tranche of the uncommitted options included in the overdraft facility agreement with Sparebank 1 SR-Bank has now been released. The release is triggered by a growing biomass and the biological performance of the Company. The released option represents an increase of NOK 50 million from the current overdraft facility of NOK 100 million to a new total overdraft facility of NOK 150 million.
The expanded overdraft facility will further enhance NOHAL’s available liquidity and will be utilized to finance the planned growth in biomass. Further options are expected to be released in tranches aligned with the planned growth in biomass towards 4 500 tonnes HOG in 2026.
– We are pleased to release the first performance-linked tranche of our overdraft facility agreement and secure flexibility and financial capacity to execute on the growth plan. With our strong operational performance and stepwise realization of our growth plan, we have full confidence in our ability to unlock the potential of producing sustainable superfood on an industrial scale, says CEO Edvard Henden.
For more information, please contact:
CEO Edvard Henden
+47 911 41 165
Or
CFO Kenneth Meyer
kenneth.meyer@nordichalibut.no
+47 452 12 424