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Salmon Evolution ASA: Signed loan agreements under NOK 625 million debt financing package
STOCK EXCHANGE NOTICE
29th June 2021 / 05:29
Salmon Evolution ASA ("Salmon Evolution" or the "Company", OSE: SALME) refers to the stock exchange notice dated 16 April 2021 where the Company announced that it had signed a committed term sheet (the “Term Sheet”) with Nordea and Sparebanken Vest (jointly the “Lenders”) for a senior secured debt financing package of up to NOK 625 million relating to its phase 1 build out at Indre Harøy.
Salmon Evolution further refers to the stock exchange notice on 25 June 2021 regarding the signing of a NOK 140 million long-term loan with Innovation Norway (the IN Facility).
The Company is pleased to announce that it now also has signed legally binding loan documentation for the NOK 525 million Construction Facility as well as the NOK 385 million Term Loan Facility, both with Nordea and Sparebanken Vest, and partially guaranteed by GIEK.
Further, the Company is also pleased to announce that it has signed legally binding loan documentation for the NOK 100 million Overdraft Facility with Nordea.
Accordingly, the Company has now signed legally binding loan documentation for all the respective loan facilities under the NOK 625 million debt financing package.
Salmon Evolution is a Norwegian land-based salmon farming company focused on extending the ocean’s potential by transferring the best preconditions offered by the sea to farm fish on land through its hybrid flow-through system technology (HFS). This secures a truly sustainable production process with controlled and optimal growth conditions and limiting operational and biological risk.
The Company’s first production facility is under construction at Indre Harøy, strategically located on the Norwegian west coast with unlimited access to fresh seawater, renewable energy, established infrastructure for salmon farming, and an educated and experienced work force. The entire project is designed for an annual capacity of approx. 31,500 tonnes HOG.
The Company has also entered into a joint venture with Dongwon Industries where the parties will develop, construct and operate a land-based salmon farming facility in South Korea with an annual production capacity of 16,800 tonnes HOG, using Salmon Evolution’s HFS technology.
Salmon Evolution ASA is listed at Euronext Growth under the ticker SALME.
To learn more, please visit www.salmonevolution.no.
Håkon A. Berg
CEO, Salmon Evolution
+47 411 92 257
Trond Håkon Schaug-Pettersen
CFO, Salmon Evolution
+47 911 91 327
Salmon Evolution further refers to the stock exchange notice on 25 June 2021 regarding the signing of a NOK 140 million long-term loan with Innovation Norway (the IN Facility).
The Company is pleased to announce that it now also has signed legally binding loan documentation for the NOK 525 million Construction Facility as well as the NOK 385 million Term Loan Facility, both with Nordea and Sparebanken Vest, and partially guaranteed by GIEK.
Further, the Company is also pleased to announce that it has signed legally binding loan documentation for the NOK 100 million Overdraft Facility with Nordea.
Accordingly, the Company has now signed legally binding loan documentation for all the respective loan facilities under the NOK 625 million debt financing package.
ABOUT
About Salmon EvolutionSalmon Evolution is a Norwegian land-based salmon farming company focused on extending the ocean’s potential by transferring the best preconditions offered by the sea to farm fish on land through its hybrid flow-through system technology (HFS). This secures a truly sustainable production process with controlled and optimal growth conditions and limiting operational and biological risk.
The Company’s first production facility is under construction at Indre Harøy, strategically located on the Norwegian west coast with unlimited access to fresh seawater, renewable energy, established infrastructure for salmon farming, and an educated and experienced work force. The entire project is designed for an annual capacity of approx. 31,500 tonnes HOG.
The Company has also entered into a joint venture with Dongwon Industries where the parties will develop, construct and operate a land-based salmon farming facility in South Korea with an annual production capacity of 16,800 tonnes HOG, using Salmon Evolution’s HFS technology.
Salmon Evolution ASA is listed at Euronext Growth under the ticker SALME.
To learn more, please visit www.salmonevolution.no.
CONTACT
For further information, contact:Håkon A. Berg
CEO, Salmon Evolution
+47 411 92 257
Trond Håkon Schaug-Pettersen
CFO, Salmon Evolution
+47 911 91 327