Norwegian Block Exchange AS applies for listing on Euronext Growth

03 Dec 2021 13:23 CET

Company Name





Aims to become the first listed crypto exchange in the Nordics

Oslo, 3 December 2021 – Norwegian Block Exchange (the "Company" or "NBX") has
applied for listing on Euronext Growth and plans to become the first publicly
listed crypto exchange in the Nordics.

“The future of the financial industry is built on blockchain technology. With
our popular and growing crypto exchange, solid technology stack and competent
and growing team, we are in a good position to realize our vision of becoming a
leading provider of a broad range of financial services based on blockchain
technology. As part of this, we have a clear plan to become the first digital
asset bank in the Nordics and one of the first globally, said CEO of NBX Stig

NBX was founded in 2018, by Bjørn Kjos, who also founded Norwegian Air Shuttle
and Bank Norwegian. The idea was to make crypto currency easily available in a
safe manner for everyone, as well as to establish cost efficient crypto-based
payment systems. NBX is registered with the Financial Supervisory Authority of
Norway (Finanstilsynet) and intends to obtain a license as an e-money

“Becoming an e-money institution is an important milestone towards becoming a
bank, as it will enable us to offer payment services based on cryptocurrencies.
We are building brick by brick towards a complete banking and transactions offer
to the market, solely based on blockchain technology and cryptocurrency, said
CEO Kjos-Mathisen.

NBX raised NOK 60 million in equity in December 2020 and will not raise
additional capital in connection with the listing on Euronext Growth. The NBX
stock has recently been traded at NOK 8 per share in the OTC market, which
implies a market capitalization of approximately NOK 519 million. This
represents an increase of 142 percent compared to the valuation at the last
capital raise in December 2020.

“We are currently well-funded to be able to deliver on our ambitions for
development of technology and products as well as customer acquisition in the
near term. However, as a listed company, we will be relevant for a much broader
investor base and be well equipped to utilize the equity market when more
capital is required later. The listing represents another quality stamp for us,
said Kjos-Mathisen.

First day of trade for the NBX share on Euronext Growth is expected in the near
future. Pareto Securities AS is acting as advisor (the "Advisor") for NBX in
connection with the listing on Euronext Growth. Advokatfirmaet Selmer AS is
acting as legal counsel to NBX and AGP Advokater AS is acting as legal counsel
to Pareto Securites AS. Corporate Communications AS is acting as communications
advisor to NBX.

Contact persons:
Stig Kjos-Mathisen, CEO - 93287574
Torstein Thinn, CFO - 98644144
Liv Freihow, Director Communications and Public Affairs - 48250924

About NBX:

● Truly Norwegian cryptocurrency exchange and custodian.
● Based in Oslo and registered with
the Financial Supervisory Authority of Norway,
● Offers an easy and secure access to cryptocurrency for everyone,
focusing on the Nordic markets, but open for customers globally
● 25,000 customers at the end of September 2021
● Trading volume of NOK 929 million during the first nine months of 2021
● 21 employees & 10 consultants in 11 countries. Headquarters at Fornebu.
● Largest shareholders: Observatoriet Invest AS (Bjørn Kjos, 31.8%),Sparebanken
Øst (9.9%), Kistefos Investment AS (9.3%), Nye Km Aviatrix Invest AS (8.1%),
Dasha Invest (5.0%) and MP Pensjon (4.7%)

Important information

Matters discussed in this announcement may constitute forward-looking
statements. Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect", "anticipate",
"strategy", "intends", "estimate", "will", "may", "continue", "should" and
similar expressions. The forward-looking statements in this release are based
upon various assumptions, many of which are based, in turn, upon further
assumptions. Although the Company believe that these assumptions were reasonable
when made, these assumptions are inherently subject to significant known and
unknown risks, uncertainties, contingencies and other important factors which
are difficult or impossible to predict and are beyond their control. Actual
events may differ significantly from any anticipated development due to a number
of factors, including without limitation, changes in public sector investment
levels, changes in the general economic, political and market conditions in the
markets in which the Company operates, the Company's ability to attract, retain
and motivate qualified personnel, changes in the Company's ability to engage in
commercially acceptable acquisitions and strategic investments, and changes in
laws and regulation and the potential impact of legal proceedings and actions.
Such risks, uncertainties, contingencies and other important factors could cause
actual events to differ materially from the expectations expressed or implied in
this release by such forward-looking statements. The Company does not make any
guarantee that the assumptions underlying the forward-looking statements in this
announcement are free from errors nor does it accept any responsibility for the
future accuracy of the opinions expressed in this announcement or any obligation
to update or revise the statements in this announcement to reflect subsequent
events. You should not place undue reliance on the forward-looking statements in
this announcement.

The information, opinions and forward-looking statements contained in this
announcement speak only as at its date and are subject to change without notice.
The Company does not undertake any obligation to review, update, confirm, or to
release publicly any revisions to any forward-looking statements to reflect
events that occur or circumstances that arise in relation to the content of this
announcement. Neither the Advisor nor any of its affiliates makes any
representation as to the accuracy or completeness of this announcement and none
of them accepts any responsibility for the contents of this announcement or any
matters referred to herein.

548480_Norwegian Block Exchange AS - Stock Exchange Announcement AS(11253002.1).pdf


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