Oslo 21 September 2022 -Norwegian Block Exchange AS (NBX), the first publicly listed crypto exchange in the Nordics, has received commitment ofNOK 20.4 mill in new equity in a private placement. The commitment consists of 8 150 000 new shares at a commitment price ofNOK 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 ofNOK 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 notice18-08-2022 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 ofNOK 61 116 388,8 divided on 76 395 486 shares, each with a nominal value ofNOK 0.80 . The Board has considered the Private Placement in light of the equal treatment obligations under applicable legislation, the rules on equal treatment underEuronext Growth Oslo Rule Book Part II for companies listed onEuronext GrowthOslo , and theOslo 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 inEuronext Securities Oslo (formerly VPS), who were not allocatedOffer Shares in the Private Placement and who are not resident in a jurisdiction where such offering would be unlawful, or would (in jurisdictions other thanNorway ) 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 inOslo and registered with theFinancial 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 --- Contact persons:Stig Kjos-Mathisen - CEO Mail: stig.aleksander.kjos-mathisen@nbx.com, Phone: +47 932 87 574Torstein 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. Thisstock exchange announcement was published byTorstein Thinn on the time and date set out above.
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