Numascale: Result of initial offering to shareholders in Dolphin

Numascale AS announced today that it has placed 634,706 shares in a private issue of shares directed towards shareholders in Dolphin Interconnect Solutions ASA. In total, 78 investors subscribed for shares.

The shares were issued at NOK 6.90 per share for gross proceeds of NOK 4.4 million. The total number of shares outstanding after the issue will be 2,814,405, each with the nominal value of NOK 1. The new registered share capital will be NOK 2,814,405. Dolphin`s ownership in Numascale will be 77.4% subsequent to the issue of new shares.

The main purpose of the initial funding round has been to provide funds for operations and continued development of NumaChip until further funding can be secured from Norwegian and international venture investors, and to provide preferential access to existing Dolphin shareholders to invest directly in Numascale.

The process to secure additional funding was started several weeks ago and initial feedback from prospective investors is positive and evaluations are ongoing. In the opinion of the board of directors in Numascale and Dolphin, outlook for securing the necessary funds to complete the development of the NumaChip  project is good and the amount of funds raised in the initial offering is sufficient to fund the company during the time necessary to finalize the additional funding.

The stock issue was managed by Orion Securities ASA.

For further info; Tim Miller, CEO Dolphin +1 508
7405 949
Alex Gundersen, CFO Dolphin +47 41 47 41 07
Kåre Løchsen, CEO Numascale +47 95 08 87 31

www.dolphinics.com
www.numascale.com