Hofseth Biocare ASA: HBC enters into a new NOK 35m financing agreement

Hofseth BioCare ASA (HBC) has today signed a new financing facility of NOK 35m. Increased sales and production volumes after the second quarter, have required higher working capital needs and the Company has secured financing of inventory and outstanding trade receivables with this agreement.
By entering into this agreement, Hofseth BioCare will have access to more liquidity, to further increase sales and production going forward. The financing facility is on market terms and effective as of today, 07.11.2017.
For further information, please contact:
Roger Hofseth, CEO of Hofseth BioCare ASA
Mob: +47 95147941
E-mail: rh@hofseth-as.no
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Mob: +47 93632966
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, 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 of the Norwegian Securities Trading Act.