With reference to the stock exchange announcement of 15 December 2021 and 29 June 2023.
Nordic Halibut AS (“NOHAL” or “the Company”) is pleased to announce that the second NOK 50 million tranche of the uncommitted options included in the overdraft facility agreement with Sparebank 1 SR-Bank has now been released. This increase in the overdraft facility is backed by an Eksfin financing guarantee, further bolstering the financial resilience of the facility.
The additional release is triggered by a growing biomass and the biological performance of the Company. This release represents a NOK 50 million augmentation, raising the current overdraft facility from NOK 150 million to a new total of NOK 200 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 outlined 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 second performance-linked tranche of our overdraft facility agreement. This ensures flexibility and financial capacity to implement our growth plan. Our robust operational performance and systematic realization of the growth strategy gives confidence in our ability to unleash the potential of producing sustainable superfood on an industrial scale, says CEO Edvard Henden.
For more information, please contact:
CEO Edvard Henden email@example.com
+47 911 41 165
CFO Kenneth Meyer firstname.lastname@example.org
+47 452 12 424