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ABT: Update on Restorsea complaint

Aqua Bio Technology ASA (Oslo Axess: ABT) today provided an update on the
complaint filed with a New York court by ABT's customer and exclusivity
partner Restorsea.

The court has scheduled a conference with the parties' legal counsel on 7 May
2014 for a preview of ABT's request for dismissal of Restorsea's complaint.
No court decision is expected in this conference. As previously noted, Aqua
Bio Technology's position is that the complaint is substantively and
procedurally deficient, and the Company has submitted a request for

After learning of the complaint, further dialogue between the parties has been
initiated, in an effort to reach a solution outside the court. ABT has
recently met with Restorsea, and has provided the exclusivity partner with
additional technical documentation. ABT's intention is to clarify and resolve
potential misunderstandings.

The legal process moves forward in parallel with the dialogue between the

ABT will update the market in accordance with its obligations as a company
listed on the Oslo Stock Exchange.

For further information, please call Arvid Lindberg, CEO, telephone +47 9824

Aqua Bio Technology ASA (ABT) develops, produces and markets patented
ingredients and technologies to the international cosmetic and skin care
industry. ABT's ingredients Aquabeautine XL(TM), Dermaclarine(TM) and Beauty
Propelline(TM) are marine solutions with distinctly individual and unique
properties, derived from the hatching fluid of salmon. ABT is listed on the
Oslo Stock Exchange's Axess market.

ABT press release Restorsea update


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Aqua Bio Technology via Globenewswire


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