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GIGANTE SALMON AS: Half-year report H1 2021


GIGANTE SALMON AS: Half-year report H1 2021Bodø – 28. september 2021

Summary, H1 2021:

Gigante Salmon AS is currently developing its first land-based salmon farming facility on Lille Indre Rosøya and is not generating revenue. The company’s operating profit was -1,543 MNOK the first half year. The activity during the first half year primarily relates to the Private Placement and the IPO on Euronext Growth Oslo.

28’th of June, the company announced successful completion of a 222 MNOK Private Placement. The company attracted very strong interest, and the Private Placement was multiple times oversubscribed. In addition to the Private Placement, a share capital of 65 MNOK was contributed at year end, securing the company`s financing in accordance with the investment forecast of 445 MNOK and operating cost of 140 MNOK until full production.

The application for listing was submitted on the 18’th of June 2021, and the company was successfully approved for trading on Euronext Growth Oslo 5’th of July 2021, under the ticker symbol GIGA.

Design optimisation: Gigante Salmon optimises the design of the production pools on Lille Indre Rosøya compared with the design published previously.

– We have devised a way to reduce our physical footprint while maintaining the planned production capacity, says Gigante Salmon AS CEO Helge E.W. Albertsen.

The orientation of the production pools has been altered, and inlet and outlet of water are now placed between pool 1 and 2/3. The design optimalisation has been approved by Rødøy Municipality.

– This will result in the facility being less visible from the water; now it blends even better into the surrounding terrain, Albertsen says.

Work establishing the Lille Indre Rosøy facility began on the 1’st of September, and the investment budget of NOK 445 million remains unchanged.

– I am very pleased that the construction work is proceeding as planned, Helge E. W. Albertsen says.

Report for H1 2021 is attached.

For further information, please contact:

Helge E. W. Albertsen, CEO

Tel: +47 480 47 613 E-mail: helge@gigantesalmon.no

Rune Johansen, CFO

Tel: +47 988 44 724 E-mail: rune@gigantesalmon.no

About Gigante Salmon: Gigante Salmon is a land-based salmon farming company with its first production facility under construction on Lille Indre Rosøya in Rødøy, Norway. The company’s aquaculture concept is based on a flow-through system, combining the benefits of conventional and land-based aquaculture while simultaneously eliminating issues associated with conventional, sea based, farming, i.e., sea lice and escapes as well as reduced mortality, emissions, feed waste and impact on nearby surroundings.

For further information about the company please visit www.gigantesalmon.no.

Half-year report 1H2021 280921


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