BSP secures NOK 2,8 million short term loan from shareholders

31 Mar 2025 12:29 CEST

Reference is made to the stock exchange notice dated 19 March 2025 including,
inter alia, information relating to a capital requirement of minimum NOK 2,0
million in order to secure operating funds.

BSP has now secured total funds of NOK 2,8 million through a short term loan
from certain leading shareholders. The loan will carry an interest of 18 %, fall
due latest 30 November 2025, include a repayment option for the borrower during
the loan period but with no conversion right for the lenders. The anticipated
repayment will come from funds under the previously described Penchev II loan,
expected to be disbursed in June.

The proceeds from the new shareholder loan will partly be used for operating
purposes of the Company, and partly allocated to short term financing
requirements in EPO Aheloy due to the delayed disbursement of funds from the
Penchev II loan (as described in earlier stock exchange notices).

For further information, please contact:

Egil Melkevik, Chairman
Tel: +47 90 77 09 76
E-mail: em@ms-solutions.no

About Black Sea Property AS: Black Sea Property AS is a real estate company with
holdings in a real estate project on the Black Sea coast called Sunrise River
Beach Resort. Sunrise River Beach Resort is a partially completed project and
will upon completion comprise approximately 950 apartments as well as
significant commercial space.

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