Proximar Seafood は、日本の銀行から 40 億円の建設後の資金調達のための信用枠を受け取ります

Bergen, Norway/Yokohama, Japan - 6 January 2023Proximar Seafood AS ("Proximar") has, through its subsidiary Proximar Ltd.
(Japan), received a loan offer from a Japanese bank for a post-construction loan
of JPY 4 billion (NOK ~300 million). The senior secured loan offer was credit
approved on 28th of December 2022 and is intended to finance Proximar's facility
and production of Atlantic salmon at the foot of Mount Fuji in Japan.

The loan is subject to syndication and certain conditions. As for the
syndication, there is already positive interest from other banks and financial
institutions. The loan can be available for drawdown in the end of 2024,
following the company's first planned harvest mid-2024. The loan also permits
further subordinated lending to reach Proximar's debt target.

"Securing debt financing is a key priority for Proximar. In October, we
successfully initiated the production phase at our facility in Japan, and this
loan offer demonstrates the robustness in our business model. It also shows that
we are able to attract credit providers in the funding of Proximar's activities
going forward", says Joachim Nielsen, CEO of Proximar.  
 
Strengthening further financing dialogues 
The company's dialogues on remaining construction loan financing have to a large
extent been pending visibility on post-construction debt financing.
 
"This offer is a steppingstone in our post-construction financing plan. With the
received offer, construction loan discussions are now also expected to progress
more efficiently." Nielsen says.

The ongoing discussions with banks and financial institutions cover alternatives
for further construction financing as well as post-construction funding.
Proximar has previously secured an outstanding loan from JA Mitsui Leasing of
JPY 3.25 billion (~NOK 245m), which is required to be refinanced in March 2024.
Based on the ongoing dialogues with banks and financial institutions, the
company is optimistic on concluding on a debt structure aligned with the
previous guidance of approximately 45 percent debt level (~NOK 630m), based on
the total project cost. 

Proximar will evaluate the received offer and the alternatives and provide
further update.

Entered production phase in October
The ongoing facility construction is developing according to our schedule with
more than 80 percent of the civil works already completed. Construction costs
are on budget. Currently the installation of production tanks is ongoing in the
grow-out building. Production is running according to our plans, and the second
batch of eggs was inserted in December. The first batch inserted late October
has successfully hatched and will in a short while be brought into the first
feeding department which was commissioned in December.

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. 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.

This information is subject to the disclosure requirements pursuant to Section
5-12 in the Norwegian Securities Trading Act. This stock exchange announcement
was published by Pål Grimsrud, CFO of Proximar Seafood on 6 January 2023 at
06:45 CET.

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