5 June 2023 - Proximar Seafood AS ("Proximar" or the "Company") has through its
subsidiary, Proximar Ltd, made the first drawdown under the JPY 8.8 billion
blue-sustainability loan facility. The loan is provided by Mizuho Bank, Shizuoka
Bank and Development Bank of Japan.
Part of the proceeds from the drawdown is used to finance the completion of the
land purchase agreement with Daiwa House. The land has until now been partly
financed through a seller credit granted by Daiwa House, the main contractor to
Proximar.
"We are pleased to successfully make the first drawdown of our bank loan and
completing the land purchase agreement with the full downpayment to Daiwa House
of the seller credit. The strong support from Daiwa House since 2018, including
the seller credit provided, has been crucial for Proximar during the years of
start-up and construction," says CEO Joachim Nielsen.
The construction of the grow-out facility is continuing with high activity and
is expected to be completed in third quarter 2023. The completion is aligned
with the timing of the transfer of the first batch from the Nursery department
to the Grow-out.
The production is moving forward according to expectations with monthly inserts
of eggs. The water treatment is demonstrating stable and good performance and
the fish growth is according to the production plan.
For more information, please contact:
Pål K. Grimsrud, CFO, +47 99 47 75 99, pkg@proximar.com
Joachim Nielsen, CEO, +81 70 2811 9898, jn@proximar.com
About Proximar
Seafood Proximar Seafood is a Norwegian land-based salmon farming company with
its first facility and production at the foot of Mount Fuji in Japan. The
company inserted its first batch of eggs in October 2022. Through land-based
fish farming, using high-quality ground water secured close to Mount Fuji, the
company will produce fresh Atlantic Salmon, harvested the same day. Proximar's
location, near one of the world's most important fish markets, implies
significant advantages, both in terms of reduced cost and carbon footprint.