12.7.2023 15:55:01 CEST | Aqua Bio Technology ASA | Non-regulatory press
releases
Aqua Bio Technology ASA ("ABT" or the "Company") is pleased to inform the
following events in its update, including, among other things, a distribution
agreement with Hofseth Biocare ASA, a supply agreement with World Heritage
Salmon AS, new debt financing.
Distribution agreement with Hofseth Biocare ASA
ABT has entered into an agreement with Hofseth Biocare ASA ("HBC"), a Norwegian
consumer health ingredient supplier listed on the Oslo Børs main list with
ticker "HBC", pursuant to which ABT shall distribute HBC products in Norway, and
subsequently in Sweden. Outlined below is an overview of the HBC products which
ABT shall distribute under the distribution agreement.
ProGo: HBC's soluble protein hydrolysate products are marketed under the label
ProGo. ProGo is a protein for sports, endurance, and recovery powders. More
details about the product may be found at HBC's website
https://hofsethbiocare.com/products/progo-bioactive-peptides.
OmeGo: HBC's salmon oil product is marketed under the product label OmeGo. OmeGo
has a full spectrum of omega fatty acids, including Omega 3, 5, 6, 7, 9 and 11,
EPA, DHA and DPA, totaling 21 different fatty acids. More details about the
product may be found at HBC's website https://hofsethbiocare.com/products/omego.
CalGo: HBC's marine calcium & minerals products are marketed under the label
CalGo. CalGo is a natural marine collagenic bone powder and is designed to
support cartilage function and joint health and can be used in tablets, powders,
and other formats. More details about the product may be found at HBC's website
https://hofsethbiocare.com/products/calgo-
Supply agreement with World Heritage Salmon AS
ABT has entered into an agreement with World Heritage Salmon AS ("WHS"), a
company which aims to construct Norway's largest land-based salmon farming
facility located in Røbbervika, pursuant to which WHS is granted supply rights
to deliver the main ingredients to ABT's Aquabeautine XL product once WHS has
commenced its production and is operational.
New debt financing
ABT has also entered into loan agreements with lenders in the total amount of
NOK 7,500,000. The proceeds from these loans ensures liquidity going forward and
shall be used for general corporate purposes. The company can convert the loans
in any future equity issue.
ABT continues to assess consolidation opportunities
The Nordic market for sales and distribution of skincare products is large in
terms of the number of providers but fragmented. The market is also
characterized by low or no barriers to entry and significant margins, especially
in the distribution segment. Following ABT's acquisitions of Cosmed Beauty AS
and Ultrabody AB in 2022, ABT continues to receive inquiries from companies with
revenues ranging from 5 to 50 million Norwegian kroner. These companies operate
in Norway or Sweden. The companies that have contacted ABT see the opportunity
to build a larger consolidated system where the value increases for all parties
involved. In this context, ABT is receiving interest in receiving ABT's listed
shares as settlement in this consolidation strategy and therefore believes that
further acquisitions will be made in 2023.
For further information, please contact Håvard Lindstrøm, CEO, telephone +47 941
32 288.
Aqua Bio Technology (ABT) is developing and commercializing sustainable
biotechnology for use in skin care products. ABT's cosmetics ingredients are
effective and they provide the cosmetics industry with natural alternatives to
traditional ingredients. ABT is also marketing and distributing natural skin
care products developed by partners towards consumers and professional users.
ABT's focus on commercialization and development of natural ingredients and
natural skin care products has been, and will continue to be, an important part
of the company's strategy going forward. Aqua Bio Technology is listed on
Euronext Expand.
This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
DISCLOSURE REGULATION
This information is subject of the disclosure requirements pursuant to section
of 5-12 of the Norwegian Securities Trading Act.
CONTACTS
* Håvard Lindstrøm, 004794132288, hl@aquabiotech.no
ABOUT AQUA BIO TECHNOLOGY ASA
Aqua Bio Technology (ABT) is developing and commercializing sustainable
biotechnology for use in skin care products. ABT's cosmetics ingredients are
highly effective and they provide the cosmetics industry with natural
alternatives to traditional ingredients. ABT is also marketing and distributing
natural skin care products developed by partners towards consumers and
professional users. Aqua Bio Technology is listed on Euronext Expand.
ATTACHMENTS
Download announcement as PDF.pdf -
https://kommunikasjon.ntb.no/ir-files/17847556/2486/3441/Download%20announcement
%20as%20PDF.pdf
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