Press Release

BIOFISH HOLDING AS: CONTEMPLATED PRIVATE PLACEMENT

BIOFISH HOLDING AS: CONTEMPLATED PRIVATE PLACEMENT 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART DIRECTLY OR
INDIRECTLY, IN AUSTRALIA, CANADA, JAPAN, HONG KONG OR THE UNITED STATES OR ANY
OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL.


BIOFISH HOLDING AS: CONTEMPLATED PRIVATE PLACEMENT

Oslo, Norway, 12 January 2023. BioFish Holding AS ("BioFish" or the "Company")
has engaged Fearnley Securities AS as sole manager and bookrunner (the
"Manager") to advise on and effect a contemplated private placement of 45 - 55
million new ordinary shares in the Company (the "Offer Shares"), raising gross
proceeds of NOK 45 - 55 million (the "Private Placement"). The subscription
price per Offer Share is NOK 1 (the "Offer Price") and the final number of Offer
Shares to be issued will be determined by the Company's board of directors (the
"Board") in consultation with the Manager following an accelerated bookbuilding
process.

Investors in the Private Placement, (as well as investors in the contemplated
Subsequent Offering, the Land Purchase Placement, the Debt Conversion Placement
and the Employee Offering (all as described below) will receive one warrant
(Norw.: "frittstående tegningsrett") (the "Warrants") for each share allocated
in the Private Placement, the Subsequent Offering, the Land Purchase Placement,
the Debt Conversion Placement and the Employee Offering (as applicable), which
will entitle its holder to subscribe for, and be allocated, one share in the
Company.

The Warrants may be exercised at the conditions, and during the exercise
periods, described below:

o During periods of 30 business days commencing on the date falling 6 and 12
months from the completion of the Private Placement respectively (the "Year 1
Exercise Periods"), the Warrants may be exercised at an exercise price of NOK
1.10 per new share
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