CANOPY HOLDINGS AS - Issuance of new shares to cover final earn-out payment related to the acquisition of Spotlio AG

21 Apr 2023 15:47 CEST

21.4.2023 15:47:06 CEST | Canopy Holdings AS | Additional regulated information
required to be disclosed under the laws of a member state

The Board of Directors of Canopy Holdings AS has resolved to issue 1,119,892 new
shares to cover the second, and last, earn-out liability related to the
acquisition of Spotlio AG.

Reference is made to the notice dated 23 December 2020 and the Information
Document made public by Canopy Holdings AS (the "Company") on 18 December 2020,
section 6.5.2 regarding the acquisition by the Company of 100% of the shares in
the Swiss company Spotlio AG ("Spotlio"). As further described in the said
section, EUR 1.3 million is to be paid as an earn-out and settled in new shares
in the Company based on an issue price of NOK 6.70 per share. The earn-out is
payable in two equal tranches of which the first tranche was settled in 2022.
The settlement of this second and final tranche will fully settle the Company's
payment obligations in connection with the acquisition of Spotlio.

The share capital increase is in the amount of NOK 22,397.84, from NOK
1,780,264.70 to NOK 1,802,662.54, through the issuance of 1,119,892 new shares,
each at a nominal value of NOK 0.02. The total share contribution is equal to
the share capital increase, NOK [22,397.84]. The issuance of new shares is in
accordance with the authorization granted by the annual general meeting on 6
September 2022.

The new share capital will be registered in the Norwegian Register of Business
Enterprises without delay and will be issued to the sellers of Spotlio as
determined in the share purchase agreement. After the issuance of these new
shares, the total number of outstanding shares in the Company will be
[90,133,127].

DISCLOSURE REGULATION

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

CONTACTS

* Christian Erlandson, CEO, christian.erlandson@canopyholdingsas.com
* James Price, CFO, james@canopyholdingsas.com

ABOUT CANOPY HOLDINGS AS

Canopy Holdings AS is a multi-national technology company listed on Euronext
Growth Oslo. The company owns a leading portfolio of brands and companies that
provides digitalization solutions to ski resorts, destinations, parks and
attractions in key markets. Canopy Holdings AS currently consists of Catalate,
Liftopia.com - http://liftopia.com, Skitude and Spotlio.

More information:
Access the news on Oslo Bors NewsWeb site