11/07/2018 21:21:03

SeaBird Exploration: key information relating to the subsequent offering

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NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.

Reference is made to the stock exchange release by Seabird Exploration Plc (the "Company") on today regarding the successfully completed private placement (the "Private Placement").

The following key information is given with respect to the Subsequent Offering:

Date of announcement of terms of Subsequent Offering: 11 July 2018

Last day including right to receive subscription rights: 11 July 2018

First day excluding right to receive subscription rights: 12 July 2018

Record date: 13 July 2018

Date of approval of Subsequent Offering: 11 July 2018

Maximum number of Offer Shares: 100,000,000

Subscription price: NOK 0.19 per Offer Share

Other information: The Board of Directors has resolved to carry out a subsequent offering of up to 100,000,000 shares raising proceeds of up to NOK 19 million (the "Subsequent Offering") to its existing shareholders as of close of trading 11 July 2018, as subsequently recorded in the VPS, who did not participate in the Private Placement and who are not resident in a jurisdiction where such offering would be unlawful, or would (in jurisdictions other than Norway) require any prospectus filing, registration or similar action. Such shareholders will be granted non-tradable subscription rights to subscribe for, and, upon subscription, be allocated new shares. One subscription right will entitle the holder to subscribe for one share in the Subsequent Offering. Oversubscription for the relevant shareholders will be allowed. Subscription without subscription rights will not be allowed.

Completion of the subsequent offering is subject to completion of the Private Placement resolved and announced on 11 July 2018, all corporate approvals to complete the Subsequent offering being made, and approval and publication of a prospectus, expected to take place in late August or early September.

For further information, please contact:

Hans Petter Klohs

CEO SeaBird Exploration

Phone: +47 22 40 27 18

Nils Haugestad

CFO SeaBird Exploration

Phone: +47 22 40 27 17

This information is published in accordance with the requirements of the Continuing Obligations. This information is subject of the disclosure requirements pursuant to section 5 - 12 of the Norwegian Securities Trading Act.


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: SeaBird Exploration Plc via Globenewswire