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Proximar Seafood är ett norskt bolag verksamma inom fiskeodling. Bolaget driver och förvaltar över ett flertal produktionsanläggningar med störst inriktning mot atlantisk lax. Kunderna återfinns bland aktörer inom livsmedelsbranschen. Störst verksamhet återfinns inom den nordiska marknaden. Bolaget grundades år 2015 och har sitt huvudkontor i Bergen.

Kalender

2022-08-31 Kvartalsrapport 2022-Q2
2022-04-08 Ordinarie utdelning PROXI 0.00 NOK
2022-04-07 Årsstämma 2022
2022-03-30 Bokslutskommuniké 2021
2021-08-26 Kvartalsrapport 2021-Q2
2021-06-07 Ordinarie utdelning PROXI 0.00 NOK
2021-06-04 Årsstämma 2021
2021-04-20 Bokslutskommuniké 2020
2021-11-09 22:20:00
(Bergen, Norway - 9 November 2021) Proximar Seafood AS is pleased to announce
that the company's subsidiary Proximar Ltd (Japan) has secured a JPY 2.5 billion
(approx. NOK 190 million) loan facility distributable in two equal parts, with
the former to be distributed shortly and the latter part to be distributed in
February 2022. The loan will ensure further financing of the development and
construction of Proximar Seafood's large-scale RAS production facility at the
foot of Mount Fuji in Japan.

The loan facility is provided by the Japanese financing institution JA Mitsui
Leasing Ltd. (JAML). The loan from JAML carries an interest rate on Japanese
market terms. The construction of Proximar Seafood's RAS production facility
started in Oyama, Japan, Q1 2021, and the first Atlantic salmon is scheduled for
harvesting in 2024.

The loan from JAML is guaranteed by Grieg Kapital. For their role as guarantor,
Grieg Kapital is compensated according to market terms. Proximar Seafood AS will
further provide a customary share pledge over its shares in the Japanese
subsidiary as collateral for any recourse requirements from the primary
guarantor. Grieg Kapital is syndicating the loan guarantee by holding counter
guarantees from other shareholders in Proximar Seafood AS, with the first part
of the loan already fully guaranteed.

"The loan agreement with JA Mitsui Leasing is a significant breakthrough for
Proximar Seafood and represents an important step forward in the project
financing process. We have been in close talks with JAML since 2019 and
appreciate the progress we have had over the last years. We are now very pleased
to secure our first loan facility with JAML and bring our relationship on to the
next level. The credit facility has favorable terms and provides us with good
financial headroom to mid-2022 and allows us time to negotiate a sales agreement
with Marubeni Corporation, which is important when it comes to long term
Japanese bank financing," says Proximar Seafood's CEO, Joachim Nielsen.

The General Manager of the MBK Business Promotion Department at JA Mitsui
Leasing Ltd, Hideki Kobayashi, says: "We are very excited to be the first
Japanese financial institution to finance Japan's first large-scale land-based
aquaculture project, and we look forward to its success".

The loan is a part of Proximar Seafood's construction financing. Proximar is
experiencing positive progress for long-term bank financing in Japan, although
the progress has been hampered by the COVID-19 travel restrictions as previously
communicated. The loan from JA Mitsui Leasing, having a term of 18 months,
provides flexibility and time to conclude the ongoing financing discussions.
Proximar is still discussing long-term debt with Japanese banks as well as
further construction loan financing. The target debt rate remains at
approximately 50 % of the total project.

"I am really pleased that the progress in the development of the Mt. Fuji
facility is according to time schedule and budget. The technology has
demonstrated its functionality, including breeding of Atlantic salmon for close
to 5 years in Poland, which we follow closely. The system maintains good water
quality and growth conditions for the salmon. I am therefore confident in
Proximar Seafood's ability to deliver quality Atlantic salmon to the growing
Japanese market in a little more than two years' time. We are also very
encouraged by the strong interest for the project in Japan, which is truly
inspiring," says Joachim Nielsen, CEO of Proximar Seafood.


For more information, or if you are interested in taking part in the guarantee
syndicate, you are welcome to contact:

Joachim Nielsen, Chief Executive Officer
Phone: +47 928 55 559, e-mail: jn@proximar.com

Pål Grimsrud, Chief Financial Officer
Phone: +47 994 77 599, e-mail: pkg@proximar.com

Requirement for counter guarantors for the second part of the loan:
- Minimum size of guarantee: MNOK 5
- Acceptable counterparty risk at the discretion of Grieg Kapital AS (i.e. the
primary guarantor)
Please note that the counter guarantees are not tradable securities nor a
financial instrument as such pursuant to Securities Trading Act, they will not
be registered and are not tradable or assignable.


About Proximar:
Proximar Seafood is a Norwegian land-based salmon farming company with its first
production facility under construction at the foot of Mount Fuji in Japan. The
company will supply fresh Atlantic Salmon harvested the same day through
land-based fish farming, using high-quality groundwater secured close to Mount
Fuji. Proximar's location, near one of the world's most important fish markets,
implies significant advantages in reducing cost and carbon footprint.

About JA Mitsui Leasing, Ltd:
JA Mitsui Leasing is a general leasing company, headquartered in Tokyo,
combining the core business foundation of the JA Group and Mitsui Group. JA
Mitsui Leasing Ltd provides asset financing within a number of industries. The
company has total assets of approx. NOK 140 billion and are supported by strong
owners.