Resolution to carry out Private Placement of NOK 20 million

Reference is made to the stock exchange announcement published by Hiddn Solutions ASA ("Hiddn" or the "Company") on 21 December 2018 regarding commitments from certain existing shareholders and new investors in the Company for a private placement of new shares in the Company raising NOK 20 million in gross proceeds (the "Private Placement").

The Company's board of directors has today resolved to carry out the Private Placement and resolved issuance of 23,845,226 new shares in the Company, each with a nominal value of NOK 0.34, at a subscription price of NOK 0.84 (the "New Shares"). The New Shares are issued by the board pursuant to an authorization granted by the Company's annual general meeting on 23 May 2018.

Following payment for the New Shares and registration of the new share capital pertaining to the Private Placement with the Norwegian Register of Business Enterprises, the Company will have an issued share capital of NOK 39,299,750.34, divided into 115,587,501 shares, each with a par value of NOK 0.34. Subject to publication of a listing prospectus approved by the Financial Supervisory Authority of Norway, scheduled to be approved on or about 29 March 2019, the New Shares will be issued in the VPS under the Company's ordinary ISIN, and be listed and tradable on the Oslo Stock Exchange following registration of the new share capital with the Norwegian Register of Business Enterprises.

The board of directors has further concluded that it will not be necessary to carry out a subsequent offering following the Private Placement having taking into consideration, inter alia, the trading prices of the Company's shares since announcement of the Private Placement in December 2018 and the limited size of a potential subsequent offering compared to the cost required for consummation. 

For further information, please contact: Carl Espen Wollebekk (CEO of Hiddn), telephone: + 47 930 55 505 /e-mail: 

About Hiddn Solutions ASA

Hiddn Solutions ASA is listed on the Oslo Stock Exchange under the ticker HIDDN. The company is offering impenetrable proprietary hardware-based authentication and encryption products with a superior level of security as well as a wider product suite addressing all market segments looking for solutions to ensure that sensitive information stays confidential and unavailable to unauthorised access. Based on Hiddn's unrivalled and proven position in the high-end encryption market, Hiddn is implementing a strategy of adapting the proprietary technology to the high-volume markets to take advantage of the growing global security challenges and the arising regulatory requirements. Hiddn has established a product offering that addresses all market segments from the high -end security clients to the retail market, and established partnerships with some of the most important sales and distribution partners in Europe. Hiddn sees significant growth opportunities and rising demand from customers and is well on its way to solidify its leading position in the growing market for secure data storage.

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This information is subject to the disclosure requirements pursuant to section 5 -12 of the Norwegian Securities Trading Act.