Proximar: Convertible Bond Conversion Notice Received

28 Feb 2023 16:43 CET

28 February 2023: Reference is made to the Proximar Seafood AS (the "Company")
convertible bond with ISIN NO0012733387 (the "Bonds") issued on 27 October 2022.


The Company has received conversion notices for a total of 1,700,000 Bonds,
which pursuant to the bond terms are convertible into 340,000 new shares in the
Company at a conversion price of NOK 5. Following the conversion, the Company
has Bonds in issue in the nominal amount of NOK 248,300,000. Further and
following completion of such conversion, including registration of the share
capital increase in the Norwegian Register of Business Enterprises (Nw.:
Foretaksregisteret) pertaining to the conversion, the Company's share capital
will be increased by NOK 34,000 by issue of 340,000 new shares into a share
capital of NOK 4,012,765 consisting of 40,127,650 shares each with a par value
of NOK 0.1.

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

For more information, please contact:
Joachim Nielsen, CEO, +81 70 2811 9898, jn@proximar.com
Pål K. Grimsrud, CFO, +47 99 47 75 99, pkg@proximar.com

About Proximar Seafood
Proximar Seafood is a Norwegian land-based salmon farming company with its first
production facility and production at the foot of Mount Fuji in Japan. The
company inserted its first batch in October 2022. Through land-based fish
farming, using high-quality ground water secured close to Mount Fuji, the
company will produce fresh Atlantic Salmon, harvested the same day. Proximar’s
location, near one of the world’s most important fish markets, implies
significant advantages, both in terms of reduced cost and carbon footprint.

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