Oslo 21 September 2022 - Norwegian Block Exchange AS (NBX), the first publicly
listed crypto exchange in the Nordics, has received commitment of NOK 20.4 mill
in new equity in a private placement. The commitment consists of 8 150 000 new
shares at a commitment price of NOK 2.5 per share. In addition to shares, the
investors will receive warrants on 50% of committed volume with a duration of 2
(Two) years and a strike price of NOK 4,5. The issuance of new shares and
warrants are subject to General assembly and subscription stocks will be
available after formal approval.

The placement is part of the private offering reported in the stock notice
18-08-2022 and has been conducted by company management during difficult and
challenging market conditions. The proceeds will fund the company through 2023
and allow for the development and launch of new products and services in the
period. 

NBX is the only listed crypto exchange in the Nordics and currently has a
beneficial position in the Nordic market. The company has finalized cost cuts
and restructuring has been completed. Enabling the management to focus on
product development and customer growth. Targeting the position as the leading
exchange in the Nordics, the management will increase efforts to support this in
the coming period.

"Operationally, with the recent organizational changes and trimming of costs,
NBX has never been in a better position than it is now. Looking one year back,
at the current situation and one year ahead, I am very excited about the
opportunities in front of us. We shall grasp this opportunity and grow in a
difficult period. I am confident we will be the leading exchange in the Nordics
within a few years." Says CEO of NBX, Stig Aleksander Kjos-Mathisen.

Following completion of the Private Placement, the Company will have a share
capital of NOK 61 116 388,8 divided on 76 395 486 shares, each with a nominal
value of NOK 0.80.

The Board has considered the Private Placement in light of the equal treatment
obligations under applicable legislation, the rules on equal treatment under
Euronext Growth Oslo Rule Book Part II for companies listed on Euronext Growth
Oslo, and the Oslo Stock Exchange's Guidelines on the rules of equal treatment. 

Completion of the Private Placement implies a deviation from the existing
shareholders' pre-emptive rights to subscribe for and be allocated new shares.
The Board has carefully considered such deviation and has resolved that the
Private Placement is in the best interest of the Company and its shareholders.
In reaching this conclusion, the Board has among other things considered the
availability of capital markets financing in a timely manner on the same
favorable terms as agreed in the Private Placement, together with the necessity
for the Company to realize its communicated targets in line with its approved
strategy and that the Private Placement could be completed in a more efficient
manner and entails lower transaction costs compared to a rights issue.

The Board will consider carrying out a subsequent repair offering at the same
subscription price and conditions as the Offer Shares towards shareholders in
the Company registered at EOD for the approving General assembly, as registered
in Euronext Securities Oslo (formerly VPS), who were not allocated Offer Shares
in the Private Placement and who are not resident in a jurisdiction where such
offering would be unlawful, or would (in jurisdictions other than Norway)
require any prospectus filing, registration or similar action (the "Subsequent
Offering"). Any Subsequent Offering will be subject to (i) the prevailing market
price of the Company's shares and (ii) relevant corporate resolutions being
passed by the Company.

About NBX
NBX is a publicly listed Norwegian cryptocurrency exchange and custodian. Based
in Oslo and registered with the Financial Supervisory Authority of Norway. NBX
is the first crypto exchange in the Nordics granted an e-money license. 

In 2022 alone the exchange had a growth of 60% in the user base, totaling more
than 80 000 at the end of H1.
 
The exchange offers instant and localized payment methods such as card and
Vipps, in addition to a more professional trading experience and insured
custody. NBX aims to launch the first visa credit card with crypto kickback late
in 2022. The card solution will be the first of its kind and decrease the gap
between traditional finance and Crypto. 

NBX offers everyone easy and secure access to cryptocurrency, focusing on the
Nordic markets, but open for customers globally. To learn more, please visit
www.nbx.com

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Contact persons:
Stig Kjos-Mathisen - CEO
Mail: stig.aleksander.kjos-mathisen@nbx.com, Phone: +47 932 87 574

Torstein Thinn - CFO 
Mail: torstein.thinn@nbx.com Telephone: 986 44 144 

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation article 7 and is subject to the disclosure requirements
pursuant to section 5-12 of the Norwegian Securities Trading Act. 

This stock exchange announcement was published by Torstein Thinn on the time and
date set out above.

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© Oslo Bors ASA, source Oslo Stock Exchange