Aqua Bio Technology ASA – Coverbrands Acquisition and related Investments completed

Reference is made to the stock exchange announcement made by Aqua Bio Technology ASA ("ABT" or the "Company") on 19 December 2023, concerning the share purchase agreement under which ABT agreed to acquire 100% of the shares in Cover Brands AS ("Coverbrands") and the pre-committed NOK 5 million investment to made by Jesper Dønnestad Brandt and an associated investor.

Yesterday ABT received the agreed NOK 5 million investments and the relevant conditions for the closing of the Coverbrands transaction were successfully met.  ABT has today completed the acquisition of the shares in Coverbrands and 7,818,182 new shares have been subscribed by Medvind Holding AS and the two investors. The new shares was issued pursuant to a board authorization registered in the Norwegian Registry for Business Enterprises on 29 September 2023.

For further information, please contact CEO Håvard Lindstrøm mobile phone +47 941 32 288.

About ABT

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. ABT is listed on Euronext Expand.

 

This information is subject of the disclosure requirements pursuant to section of 5-12 of the Norwegian Securities Trading Act.