Reference is made to the stock exchange announcement on 16 October 2020 regarding the completion of a private placement (the "Private Placement") in Hofseth BioCare ASA.

The share capital increase pertaining to the Private Placement has now been registered with the Norwegian Register of Business Enterprises. The new registered share capital of the Company is NOK 3,549,003.59 divided by 354,900,359 shares, each with a par value of NOK 0.01.

The new shares will be issued in the VPS and delivered to Hofseth AS as soon as practically possible, in order to settle the share lending agreement entered into in connection with the Private Placement.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act