Bioretec completes a private placement raising EUR 1.74 million

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Bioretec Ltd                         Inside information                27 September 2021 at 10.00 p.m. EEST


Bioretec Ltd ("Bioretec" or the "Company") announced on 20 September 2021 that it was planning a directed share issue of up to approximately EUR 4.0 million for institutional investors and a limited number of other investors (the "Placing") and that it had for the Placing received a subscription commitment of EUR 1.5 million covering 500,000 new shares in the Company against a subscription price of EUR 3.00 per share (the "Subscription Commitment"). The Subscription Commitment was conditional on the completion of the listing of Company's shares on Nasdaq First North Growth Market Finland maintained by Nasdaq Helsinki Ltd ("Nasdaq Helsinki") (the "Listing").

Nasdaq Helsinki has on 24 September 2021 approved the listing application submitted by Bioretec relating to the Listing, and trading in the shares of the Company on Nasdaq First North Growth Market Finland commences with ticker "BRETEC" on 28 September 2021. As after the completion of the Listing the Subscription Commitment is no longer conditional, Bioretec's Board of Directors has today decided to complete the Placing based on an authorization granted by Bioretec's extraordinary general meeting held on 9 July 2021 and corresponding subscription commitments received today.

In the Placing, Bioretec issues a total of 580,000 new shares (the "New Shares") to institutional investors and a limited number of other investors. The subscription price per New Share in the Placing was EUR 3.00, and the net proceeds of the Placing shall be recorded in the invested unrestricted equity reserve.

The New Shares issued in the Placing represent approximately 4.3 per cent of the issued shares in Bioretec prior to the Placing and approximately 4.1 per cent after the Placing. The total number of issued shares in Bioretec after the Placing will be 13,986,371. In the Placing, Bioretec raises gross proceeds of EUR 1.74 million.

The Placing is arranged to strengthen the financial position of the Company and to enable investments in Company's production, finalization of the market authorization process of the Company's RemeOsTM Screws and initiating commercialization measures as well as in product development of the Company's products in the development phase.Bioretec will take action to register the New Shares (ISIN code FI4000480454) with the trade register maintained by the Finnish Patent and Registration Office as soon as possible, after which the New Shares will be ready for delivery to the investors against payment through Euroclear Finland Oy. Bioretec intends to apply for listing of the New Shares to Nasdaq First North Growth Market Finland with trading to commence as soon as possible.


Important notice

The distribution of this release may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restrictions. The information contained herein is not for publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, Singapore, South Africa or the United States or in any other jurisdiction in which publishing or distributing would be prohibited by applicable law. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This release is not directed to, and is not intended for distribution to or use by, any person or entity that is a citizen or resident or located in any locality, state, country or other jurisdiction where such distribution, publication, availability or use would be contrary to law or regulation or which would require any registration or licensing within such jurisdiction.

This release does not constitute a prospectus as defined in the Prospectus Regulation ((EU) 2017/1129) and as such, does not constitute or form part of and should not be construed as, an offer to sell, or the solicitation or invitation of any offer to buy, acquire or subscribe for, any securities or an inducement to enter into investment activity.

This release is directed only to (A) persons who are outside the United States of America; (B) persons who are resident in a Member State of the European Economic Area and are a qualified investor (within the meaning of Article 2(1)(e) of Regulation (EU) 2017/1129 (the "Prospectus Regulation")); and (C) as regards the United Kingdom, persons who are "Qualified Investors" within the meaning of Article 2(1)(e) of the Prospectus Regulation as it forms part of English law by virtue of the European Union (Withdrawal) Act 2018, who are (i) investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); (ii) high net worth entities; and (iii) and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as "Relevant Persons"). Any securities mentioned herein are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, Relevant Persons. No one who is not a Relevant Person shall act on the basis of this release.

This release does not constitute an offer for sale of securities in the United States. The shares may not be offered or sold within the United States absent of registration or an exemption under the U.S. Securities Act 1933 (as amended). The Company has not registered and it does not intend to register, any portion of the offering in the United States, and it does not intend to conduct a public offering in the United States.

Timo Lehtonen, CEO, tel. +358 50 433 8493

Tomi Numminen, Chairman of the Board, tel. +358 40 581 2132

Certified Adviser:

Nordic Certified Adviser AB, tel. +46 70 551 67 29

Bioretec’s mission is to promote healing after trauma or orthopedic surgery, building on a unique understanding of bioresorbable medical implants that act as scaffolds for tissue growth and eliminate the need for removal surgery of the implants. Bioretec's bioresorbable polymer implants are used worldwide and the Company intends to launch a new series of innovative implants based on a unique bioresorbable metallic alloy, RemeOsTM. The RemeOsTM product line is designed to meet the unmet medical need of demanding load-bearing fixations, and to facilitate a seamless transition for surgeons from conventional titanium implants. Better healing – Better life.