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Numascale: Agrees on terms for NOK 25 mill funding

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Numascale AS is pleased to announce that it has agreed on terms for equity financing for the remaining development and market launch of NumaChip with two Norwegian based venture investment funds.

Total investments are expected to be NOK 25 million in two tranches priced at NOK 6,90 per share. As part of the agreement, the investors will be granted a 36 months option to invest additional NOK 10 million at NOK 12 per share.

The agreement is expected to close in Q4 2008 and is subject to due diligence and respective board approvals.