Atlantic Sapphire: Disclosure of holdings

08 Oct 2024 01:31 CEST

Reference is made to previous stock exchange notices published by Atlantic
Sapphire ASA (trading symbol "ASA") (the "Company") regarding the Company's
rights offering (the "Rights Offering").

Nokomis Capital, LLC has today, 7 October 2024, been allocated 982,649,748 new
shares in the Rights Offering. Upon issuance of these shares, Nokomis Capital,
LLC will hold 982,649,748 shares in the Company, representing 15.05% of the
outstanding shares and voting rights in the Company. Nokomis Capital, LLC has
consequently crossed above the 15% reportable threshold of the outstanding
shares and voting rights in the Company.

The aforementioned shares and votes are held by Nokomis Capital, LLC in capacity
of fund manager of the following funds: 759,136,093 shares are held on behalf of
Nokomis Capital Master Fund, L.P. and 223,513,655 are held on behalf of Star V
Partners, LLC. Nokomis Capital, LLC has no rights to further shares or votes
relating to shares outstanding in the Company.

The information above is subject to the disclosure requirements in section 4-2
of the Norwegian Securities Trading Act.

Further, Nokomis Capital, LLC have, in connection with the Rights Offering, been
allocated and will at completion of the Rights Offering hold 1,293,449,874
warrants, each warrant giving the holder the right to subscribe one new share
(subject to applicable anti-dilution adjustments) in the Company. In accordance
with article 5 of the articles of association of the Company, Nokomis Capital,
LLC hereby discloses that these warrants represent 9.23% of the Company's share
capital as if all 7,486,500,058 outstanding warrants issued by the Company are
exercised (and 19.81% of the Company's registered share capital excluding any
shares issued for outstanding warrants and other dilutive instruments).

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