Reference is made to the stock exchange notice from Black Sea Property AS (the
"Company") on 2 October 2023 regarding the successful placing of a conditional
private placement to raise gross proceeds of NOK 5,822,237 (the "Private
Placement") and a contemplated subsequent offering of new shares in the Company
with gross proceeds of up to NOK 2,250,000 (the "Subsequent Offering").

The share capital increases pertaining to the Private Placement and the
Subsequent Offering must be approved by the Company's general meeting.

The Board of Directors of the Company hereby calls for an extraordinary general
meeting to be held on 17 October 2023 at 12.00 CEST, at the offices of
Advokatfirmaet CLP DA, Sommerrogata 13-15, 0255 Oslo, Norway.

The notice for such extraordinary general meeting is attached to this stock
exchange notice.

For further information, please contact:

Egil Melkevik, Chairman
Tel: +47 90 77 09 76
E-mail: em@ms-solutions.no

About Black Sea Property AS:

Black Sea Property AS is a real estate company with holdings in a real estate
project on the Black Sea coast called Sunrise River Beach Resort. Sunrise River
Beach Resort is a partially completed project and will upon completion comprise
approximately 950 apartments as well as significant commercial space. Black Sea
Property AS has indirect ownership to the project and will work to finalize
Sunrise River Beach Resort, to realize the project's added value through the
sale of residential units and hotel operations.

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© Oslo Bors ASA, source Oslo Stock Exchange