Arctic Blue Beverages

The number of outstanding Warrants amounted to 3,733,332. One (1) Warrant entitled the subscription of 1.004 new shares in Arctic Blue Beverages at a subscription price per share of SEK 0.458, corresponding to 70 percent of the volume-weighted average price of the Company’s share on Nasdaq First North Growth Market over a period of ten (10) trading days prior to the first day of subscription. The exercise period for the Warrants lasted from March 24, 2023, to April 6, 2023. The exercise rate of outstanding Warrants was approximately 48 percent, corresponding to 1,807,859 new shares. Exercised Warrants are replaced by interim shares until the registration of the issue has been completed with the Swedish Companies Registration Office, whereupon the interim shares automatically will be converted into ordinary shares in Arctic Blue Beverages.

Shares and share capital

Through the exercise of the Warrants, the total number of shares in Arctic Blue Beverages increases by 1,807,859 from 24,390,230 to 26,198,089. The share capital in Arctic Blue Beverages increases by SEK 86,777.23 from SEK 1,170,731.04 to SEK 1,257,508.27.

Advisers

Eminova Partners Corporate Finance AB acts as financial adviser and Eversheds Sutherland Advokatbyrå AB acts as legal adviser in connection with the exercise of the Warrants. Eminova Fondkommission AB acts as issuing agent.