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2014-05-27

Hofseth Biocare ASA : Completed private placement in relation to exercise of options

The Board of Directors of Hofseth BioCare ASA (the "Company") has today, 27 May 2014, resolved to increase the share capital of the Company with NOK 500 000 through issue of 500 000 new shares. The private placement is directed towards Roy Håberg (technical manager), Roald Rogne (plant manager), Geir Even Håberg (CEO Hofseth International AS) and Magne Brauten (former Project Manager in the Company).
The reason for the private placement is to honor option agreements, which have been entered into between the Company and Roy Håberg, Roald Rogne and Magne Brauten at an earlier time. The Company has also previously accepted to propose a private placement of 100,000 new shares at a subscription price of NOK 1 per share towards Geir Even Håberg due to a share lending agreement with Geir Even Håberg as compensation for Magne Brauten's exercise of 100 000 granted options. The Company has, in agreement with the subscribers, not considered it expedient to issue the shares before the present time, as this has been deemed to not be formally possible.
The private placement is made pursuant to an authorization to increase the share capital of the Company granted to the Board from the general meeting on 22 March 2013.
The new shares will represent approximately 0.5 % of the outstanding share capital of Hofseth BioCare ASA following the registration of the private placement and will be listed as soon as possible after the registration of the share capital increase in the Norwegian Register of Business Enterprises.
After the issue of the new shares, Hofseth BioCare ASA will have 98,036,088 outstanding votes and shares.
For further information, please contact:

Jon Olav Ødegård, CEO Hofseth BioCare ASA
Tel: +47 936 32 966
E-mail:joo@h-bc.no
About Hofseth BioCare:
Hofseth BioCare is a Norwegian biomarine company with the key objective to provide high value added biomarine ingredients for human applications. The Company is founded on the core value of sustainability and optimal use of natural resources. Through innovative production technology and logistics, Hofseth BioCare is able to preserve the quality of protein, calcium and oil extracted from fish off-cuts. Products that previously could only be used as animal feed can now be made suitable for human consumption. HBCs objective is thus to contribute to efficient use of marine resources and entering the higher profit market of quality ingredients for human applications.
This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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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: Hofseth Biocare ASA via Globenewswire

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