Hofseth Biocare ASA: FURTHER INFORMATION ABOUT THE SUBSEQUENT OFFERING – SUBSCRIPTION PERIOD COMMENCING TODAY

Reference is made to the stock exchange notice by Hofseth BioCare ASA ("HBC" or the "Company") published on 29 July 2019 regarding the successful completion of a NOK 118 million private placement (the "Private Placement") and a contemplated repair issue following the Private Placement (the "Subsequent Offering"). Reference is further made to the general meeting's resolution on 30 August 2019 to resolve the share capital increase pertaining to the Subsequent Offering.

The Subsequent Offering comprises an issuance of up to 1,500,000 new shares in the Company (the "Offer Shares"), each with a par value of NOK 1, and at a subscription price of NOK 4 per share, resulting in gross proceeds of up to NOK 6,000,000.

The Subsequent Offering will be directed towards Eligible Shareholders, being the Company's shareholders as of close of trading on 24 July 2019, as registered in the VPS on 26 July 2019, who were not invited to subscribe for shares in the Private Placement, and who are not resident in a jurisdiction where such offering would be unlawful or (other than Norway) would require any filing, registration or similar action (the "Eligible Shareholders").

The Eligible Shareholders will be granted approximately [0.045] subscription rights (the "Subscription Rights") per share held as of 24 July 2019, as registered in the VPS on 26 July 2019. Each Subscription Right will give a preferential right to subscribe for and be allocated one Offer Share. The number of Subscription Rights granted to each Eligible Shareholder will be rounded down to the nearest whole number of Subscription Rights.

The subscription period in the Subsequent Offering commence today, 2 September 2019 at 09.00 CEST, and expire on 16 September 2019 at 16.30 CEST.

Allocation of subscribed Offer Shares will be made by the Board of Directors on the basis of exercised Subscription Rights. Over-subscription will be allowed. Subscription without Subscription Rights will not be allowed.

Further information about the Subsequent Offering, including a subscription form to be used for subscription of Offer Shares, is set out in an Invitation Letter prepared by the Company. The Invitation Letter is enclosed to this Stock Exchange Notice and will also be distributed to each Eligible Shareholder.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:
HBC is a Norwegian biotech company that offers high-value ingredients and finished products for humans and pets. The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC is able to preserve the quality of salmon oil, proteins and calcium, prepared of fresh salmon off-cuts. HBC's objective is to contribute to the efficient use of marine resources and deliver quality products for ingredients and finished consumer products in the nutrition market.
Hofseth BioCare's headquarters are located in Ålesund, Norway with branches in Oslo, Chicago, Palo Alto, Mumbai and Tokyo. HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at www.hofsethbiocare.com and www.facebook.com/hofsethbiocare

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

Attachment

Invitation Letter - Hofseth BioCare ASA