Hofseth Biocare ASA: HBC enters into a new NOK 35m financing agreement
November 07 2017 - 6:42AM
Hofseth BioCare ASA (HBC)
has today signed a new financing facility of NOK 35m. Increased
sales and production volumes after the second quarter, have
required higher working capital needs and the Company has secured
financing of inventory and outstanding trade receivables with this
agreement.
By entering into this
agreement, Hofseth BioCare will have access to more liquidity, to
further increase sales and production going forward. The financing
facility is on market terms and effective as of today,
07.11.2017.
For further information,
please contact:
Roger Hofseth, CEO of Hofseth BioCare ASA
Mob: +47 95147941
E-mail: rh@hofseth-as.no
Jon Olav Ødegård, CFO of
Hofseth BioCare ASA
Mob: +47 93632966
E-mail: joo@hofsethbiocare.no
About Hofseth BioCare
ASA:
HBC is a Norwegian biotech company that offers high-value
ingredients and finished products for humans and pets. The company
is founded on the core values of sustainability, traceability and
optimal utilization of natural resources. Through an innovative
hydrolysis technology, HBC is able to preserve the quality of
salmon oil, proteins and calcium, prepared of fresh salmon
off-cuts. HBC's objective is to contribute to the efficient use of
marine resources and deliver quality products for ingredients and
finished consumer products in the nutrition market.
Hofseth BioCare's headquarters are located in Ålesund, Norway with
branches in Oslo, Chicago, Mumbai and Tokyo. HBC is listed on Oslo
Stock Exchange Axess list with ticker "HBC". More information about
Hofseth BioCare at www.hofsethbiocare.com and
www.facebook.com/hofsethbiocare
This information is subject
to 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: Hofseth Biocare ASA via Globenewswire