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2016-10-17

Hofseth Biocare ASA: Final result of the Subsequent Offering

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES
(Oslo, Norway, 17 October 2016) Reference is made to previous stock exchange announcements and the prospectus (the "Prospectus") dated 30 September 2016 concerning, inter alia, the subsequent offering (the "Subsequent Offering") of minimum 1 and maximum 13,333,334 new shares (the "Offer Shares") in Hofseth BioCare ASA ("HBC" or the "Company", ticker "HBC"). The subscription price in the Subsequent Offering was NOK 1.50, equal to the subscription price in the NOK 165.4 million private placement completed on 20 September 2016.)
The subscription period for the Subsequent Offering ended on 17 October 2016 at 16.30 CET. At the end of the subscription period, HBC had received subscriptions for a total of 1 027 494 Offer Shares.
Allocation of 1 027 494 Offer Shares in the Subsequent Offering was approved by the Board of Directors on 17 October 2016. The Subsequent Offering raised gross proceeds of approx. NOK 1.54 million.
The Board of Directors of HBC has approved the final allocation of the shares subscribed in the Subsequent Offering based on the allocation criteria set out in the Prospectus. A total of 1 000 494 Offer Shares have been allocated to subscribers on the basis of exercised subscription rights. 27 000 Offer Shares have been allocated to subscribers without subscription rights.
Payment for the Offer Shares allocated to a subscriber falls due on 24 October 2016.
Letters of allocation will be distributed to investors giving notification of allocated new shares and the corresponding amount to be paid by each subscriber.
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:

Hofseth BioCare 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 atwww.hofsethbiocare.comandwww.facebook.com/hofsethbiocare.
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 Corporate Solutions on behalf of Nasdaq 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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