HOFSETH ENTERS INTO CONSULTANCY AGREEMENT

Hofseth enters into consultancy agreement to grow investment. Norwegian biomarine ingredients company Hofseth BioCare ASA (“HBC”) has entered into a consultancy agreement with James Berger (through his company Nevera AG).

Mr Berger is a dual British and Italian citizen currently residing in Switzerland who has previously worked as an investment banker with Goldman Sachs International (London), JP Morgan (London), MAN Investments PLC and Millennium Capital Management LLC. He has a broad network with the largest investment banks and institutional investors in Europe and globally.

Mr. Berger has already successfully assisted HBC with its oversubscribed private placement of NOK 118 million that was directed towards international private investors and institutional funds. He has recently also facilitated the sale of additional shares in HBC from certain existing shareholders to new international investors.

Under the consultancy agreement, Mr. Berger will assist HBC with certain intermediary services, in establishing a wider base of international investors. Mr. Berger and HBC believe that a wider investor base will facilitate a contemplated US Listing and a continued positive value development.

No decision has currently been taken whether actively pursue a listing on a US stock exchange, and the timing of such a potential listing has not yet been decided. However, HBC considers a listing on Nasdaq or another US stock exchange as an exciting opportunity for itself and its shareholders.

The US stock market has historically been a positive marketplace for biotech companies and HBC has recently achieved several positive test results on various scientific research studies carried out by Dr. Bomi Framroze at Stanford University School of Medicine. For example, positive and very encouraging tests have been performed on developing a Gastro-Intestinal (GI) Protective medical food. Also, medical food to help treat age-related Sarcopenia, and future medical treatment of Anemia and NEC-IBS.