Oslo 30 September 2022 -Norwegian Block Exchange AS ("NBX" or "the Company"), the first publicly listed cryptocurrencies exchange in the Nordics, has today secured a provisionalNOK 100 million capital commitment fromLDA Capital Ltd ("LDA"), aLos Angeles based global investment group, by entering into a put option agreement (the "POA"). This capital commitment has a maximum duration of three years, and will be released based on drawdowns. NBX has the right to exercise on the capital commitment at its sole discretion. "We are very pleased with the LDA agreement. This partnership and the international recognition it represents, fortifies our belief in NBX becoming the preferred choice for crypto investing in the region and beyond. We are already exploring opportunities and I am very excited about the next two years." SaidStig Aleksander Kjos-Mathisen , CEO at NBX.LDA Capital's commitment is an injection of up toNOK 100 million in cash within a 3-year period, in exchange for newly issued equity from NBX. The funds will strengthen the company's equity base and give it a comparative advantage over peers with high-cost structures and limited access to funding. In the short term, the NBX's focus is boosting efforts related to the release of the credit card with cryptocurrencies rewarding, ongoing projects, and product launches. Over the long term, NBX will develop initiatives that will fortify its offering, creating a complete portfolio fitting the wide audience of the Nordics. "This is a confirmation of our international efforts, and thatLDA Capital recognizes the core values and potential of NBX. This investment will allow us to grow and expand our services, making cryptocurrencies more accessible and attainable for anyone! In this challenging market, knowing that funds are available to us is especially invigorating; this will equip NBX to take advantage of opportunities bound to come our way." StatesTorstein Thinn , CFO of NBX. "We at LDA are enthusiastic about our partnership with NBX. With its innovative crypto exchange trading platform and its Visa Credit Card with Cryptocurrency rewards for account holders, it is leading the Nordics in the crypto-fintech sector. NBX's growth is potentially explosive as it continues to answer mainstream consumer needs with user-friendly crypto exchange solutions." saidWarren Baker , Managing Partner ofLDA Capital . NBX may utilize the facility by issuing a put option notice (the "PON") to LDA to draw down funds in exchange for issuing new shares to LDA. LDA undertakes to subscribe to NBX's shares upon NBX's exercise of a PON. NBX will control the timing and maximum amount of any PON, and has the right, not the obligation, to draw down on the full commitment amount up toNOK 100 million . The individual strike price of each put option is determined by the volume weighted average price (VWAP) of NBX's shares during such 30 day pricing period. The company has the discretion to set a minimum price for each of the capital calls. As part of the Capital Commitment agreement,LDA Capital is also entitled to receive warrants for up to 2,636,611 new ordinary shares of NBX at an exercise price ofNOK 3.34 per ordinary share. The warrants may be exercised during a term of three years. The Capital Commitment and issuance of warrants are dependent on approval by The NBX' general meeting. The notice for the extraordinary general meeting will be announced in a separate stock exchange notice soon, along with a further description of the proposed resolutions. The funds will be utilized to facilitate NBX's growth in the Nordics and to strengthen its blockchain-based financial services. After completing a restructuring this summer, the Company will focus on increasing its customer base, widening its product portfolio, establishing partnerships, and M&A activities. -------- Contact person:Stig Kjos-Mathisen - CEO Mail: stig.aleksander.kjos-mathisen@nbx.com, Phone: +47 93287572 About NBX Based inOslo and registered with theFinancial Supervisory Authority of Norway , NBX is a publicly listed Norwegian cryptocurrency exchange and custodian. NBX is the first crypto exchange in the Nordics granted an e-money license. In 2022 alone, the exchange had a user base growth of 60%, totaling more than 80,000 users at the end of H1. The exchange offers instant and localized payment methods such as card and Vipps, in addition to a more professional trading experience and insured custody. NBX aims to launch the firstVisa credit card with cryptocurrencies kickback in late 2022. The card solution will be the first of its kind and will decrease the gap between traditional finance and cryptocurrencies. NBX offers. to global customers easy and secure access to cryptocurrencies, based on the advanced standards of its reference market: the Nordics. To learn more, please visit www.nbx.com AboutLDA Capital LDA Capital is a global alternative investment group with expertise in cross-border transactions worldwide. Its team has dedicated their careers to international & cross-border opportunities having collectively executed over 250 transactions in growth stage businesses across 43 countries with aggregate transaction values of overUS$11 billion . For more information please visit: www.ldacap.com; For inquiries, please email: info@ldacap.com.
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