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ABT: Update on U.S. lawsuit

Further to our announcement on 28 March, 2016, Aqua Bio Technology ASA can
provide the following update:

A preliminary injunction hearing on the complaint brought against Aqua Bio
Technology ASA has been held in the federal court in the Southern District of
New York. In the hearing ABT defended itself against the claims made by
Access Business Group International LLC. Additional briefs will be submitted
to the court by the parties involved, and a ruling is expected later this

Access filed a complaint against ABT in March of this year, claiming that the
Company is breaching a contractual obligation to deliver a cosmetic
ingredient. The New York court has previously denied Access' motion for a
Temporary Restraining Order against ABT. The court will now rule on the
motion, based on testimonies given in the hearing and additional
documentation provided from the parties involved.

ABT and Access entered on February 2012 into an agreement that granted Access
certain exclusivity rights to sell skin care products containing ABT's
ingredient, Aquabeautine XL®, in the direct sales channel. The agreement
expired on 1 January 2016. Before the parties could agree on terms on which
ABT would continue to supply Aquabeautine XL®, Access commenced this action
claiming, among others, a breach of the agreement.

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

Aqua Bio Technology (ABT) has launched several cosmetic ingredients used in
skin care products globally. Skin care is the fastest growing segment in the
cosmetics industry, where ABT's ingredients have established a foothold. In
addition to ingredients from its own technology, ABT also commercializes
novel technologies/ingredients for partners, for use in skin care products.
Aqua Bio Technology is listed on the Axess market of the Oslo Stock

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

ABT US lawsuit press release


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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