Porsgrunn,19 March 2024 : Reference is made to the stock exchange notice on14 March 2024 regarding the petition for bankruptcy filed againstRecreate ASA ("Recreate" or the "Company") byNorion Bank AB ("Norion"). The Company has today received a copy of the bankruptcy petition in which it is alleged that the Company is insolvent, cf. Section 60 of the Norwegian Bankruptcy Act. Norion argues that the Company's debt level is currently unsustainable and that the Company is unlikely to be able to fulfill its debt obligations as they fall due. In response to this situation, the Company has initiated dialogue with Norion as part of its efforts towards reaching an amicable solution for the benefit of all stakeholders. For further information, please contact: Emil Eriksrød, CEO emil.eriksrod@recreate.no +47 415 22 463
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