Arctic Bioscience - Share capital increase registered

17 Mar 2023 08:16 CET

Reference is made to the stock exchange release published by Arctic Bioscience
7th March 2023 regarding Board approval of share capital increase related to the
exercise of share options and corresponding issuance of new shares in Arctic
Bioscience.

The share capital increase has now been registered with the Norwegian Register
of Business Enterprises. As a result, the new share capital of Arctic Bioscience
has increased from NOK 2 437 571,90 to NOK 2 442 571,90, divided into 24 425 719
shares, each having a nominal value of NOK 0,10.

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

For more information, please contact:

Christer L. Valderhaug

CEO

Phone: +47 920 84 601

E-mail: christer@arctic-bioscience.com

About Arctic Bioscience

Arctic Bioscience is a biotech company developing and commercializing
pharmaceutical and nutraceutical products based on unique bioactive marine
compounds.

The company is developing HRO350 - a novel investigational drug candidate.
HRO350 is being developed for treatment of patients with mild-to-moderate
psoriasis. This is a large patient group in need of new effective medicines with
beneficial safety profile.

Nutraceuticals from Arctic Bioscience are sold globally as bulk ingredients as
well as finished goods under the ROMEGA® brand.

Arctic Bioscience is led by a team of highly competent people with experience in
developing marine oils and experience from global pharmaceutical companies.

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