Norwegian Block Exchange AS announced a private placement of 21,000,000 common shares at the price of NOK 0.60 per share for gross proceeds of NOK 12,600,000 on March 4, 2024. The transaction will include participation from four investors including Vegard Kristiansen for 16,666,666 shares. The offer shares will be issued by, and are subject to, a resolution by the company's extraordinary general meeting to be held on or about March 20, 2024.

The transaction has been approved by the board of directors of the company.