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Aquaculture

ÖVERUMANS FISK AB, ENTERS LOAN AGREEMENT TO SUPPORT SWEDISH FISH FARM EXPANSION

ÖVERUMANS FISK AB

Överumans Fisk AB, enters loan agreement to support Swedish fish farm expansion. Överumans Fisk AB, a subsidiary of AS PRFoods, entered into loan agreements with Amber Trust II S.C.A., SICAR and Lindermann, Birnbaum & Kasela OÜ to borrow up to EUR 1,000,000 (up to EUR 500,000 from each lender). The repayment term of both loans is 31.12.2022 and the interest is 6.25% per annum. The new limit amount is EUR 1,705,000.

The money is borrowed to support the start-up phase of Swedish fish farming and to boost company’s working capital at the same time. Fish will be farmed in Sweden’s largest and most environmentally friendly farm, using predominantly hydroelectric power or other renewable energy sources. The CO2 footprint of the fish farm is also about 1/3 smaller than, for example, in RAS-type i.e. terrestrial farms.

The lenders are the shareholders of AS PRFoods and thus the related persons within the meaning of the “Requirements for Issuers” regulations of the Nasdaq Tallinn Stock Exchange.

AS PRFoods is a fish farming and production company which is listed on the main list of NASDAQ OMX Tallinn Stock Exchange since 5 May 2010.

AS PRFoods’ key market is Estonia, since the acquisition of John Ross Jr. and Coln Valley Smokery in the summer of 2017, the Group has expanded its sales to 37 countries in Europe, North and South America, and Asia.

The main activity of the group is fish production in modern production buildings in Saaremaa (Estonia) and Aberdeen (Great Britain).

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