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1,760,000 shares in the Company.
Brilliant Invest 2 is set up with the purpose of acting as an incentive program
and is structured in a similar manner as the joint holding company Brilliant
Invest AS, which was established for certain employees and consultants of the
Company in 2019.
The participants in the program own shares in Brilliant Invest 2 and will
consequently make an indirect investment in the Company. The program is time-
limited and upon the termination of the program, Brilliant Invest 2 will sell
its shares in the Company and distribute the net sales proceeds to the
participants in the program (in their capacities as shareholders in Brilliant
Invest 2). The initial term of Brilliant Invest 2 is 24 months from 1 January
2022 but may be extended on certain terms.
The participants in the program are certain consultant and partners of the
Company, including Tenet Partners, Dr. Zubair Hussain (Senior Regulatory
Consultant) and Bill Lowe (President, HBC Americas).
The new shares to be issued in the private placement are subscribed at par
value. The Company will provide further information on the completion of the
private placement towards Brilliant Invest 2 in due course.
James Berger, Chief Commercial Officer, acts as chairman of the Board of
Brilliant Invest 2 and Brilliant Invest 2 is consequently a close associate of
James Berger. Further information about the transaction is included in the
attached notification form.
For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no
James Berger, Chief Commercial Officer of Hofseth BioCare ASA
Phone: +41 79 950 10 34
E-mail: jb@hofsethbiocare.no
About Hofseth BioCare ASA:
HBC is a Norwegian consumer and pet health ingredient supplier and an incubator
for new drug leads. Research is ongoing to identify the individual elements
within its ingredients that modulate inflammation and the immune response with
pre-clinical studies in multiple clinics and university research labs in several
countries. Lead clinical and pre-clinical candidates are focused on developing
an oral pharmaceutical lead program to treat inflammatory disease driven by
eosinophils. Preclinical trial work with the oil is ongoing to ameliorate lung
inflammation in eosinophilic asthma and COPD (“smokers lung”) as well as
clinical work in COVID. Other leads are focused on the protection of the Gastro-
Intestinal (GI) system against inflammation (including ulcerative colitis and
the orphan condition necrotising enterocolitis) and using peptide fractions of
salmon protein hydrolysate (SPH also known as ‘ProGo’) as a Medical Food to help
treat age-related Sarcopenia, and as a treatment for Iron Deficiency Anemia.
The company is founded on the core values of sustainability, optimal utilization
of natural resources and full traceability. Through an innovative hydrolysis
technology, HBC can preserve the quality of lipids, proteins and calcium from
fresh salmon off-cuts.
Hofseth BioCare’s headquarters are in Ålesund, Norway with branches in Oslo,
London, Zürich, New Jersey, and Palo Alto.
This information is subject to the disclosure requirements pursuant to Section
5-12 of the Norwegian Securities Trading Act
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