Reference is made to the announcement regarding the completion of the Extraordinary General Meeting (EGM) in Hofseth BioCare ASA ("HBC" or the "Company", ticker "HBC") held 20 September 2016.

Please note that the Company subsequent to the general meeting have become aware that the number of Allocation Rights each Eligible Shareholder is entitled to is misquoted in the minutes from the general meeting. The correct number of Allocation Rights each Eligible shareholder is entitled to is 0.16772555156, which is equivalent to what now is stated in the Prospectus. Furthermore, it is stated in the minutes that the subscription period in the subsequent offering ends 17 October 2016 at 12:00 hours (CET), while the correct time according to applicable rules is 16:30 hours (CET) so that the correct subscription and trading period for the Allocations Rights is from 3 October 2016 at 09:00 hours (CET) to 17 October 2016 at 16:30 hours (CET).

Both these misquotations have been amended in the attached updated minutes from the EGM.

For further information, please contact:
Jon Olav Ødegård, CFO of Hofseth BioCare ASA
Phone: +47 936 32 966
E-mail: joo@hofsethbiocare.no

About Hofseth BioCare ASA:

HBC is a Norwegian biotech company that offers high-value ingredients and finished products for humans and pets. The company is founded on the core values of sustainability, traceability and optimal utilization of natural resources. Through an innovative hydrolysis technology, HBC is able to preserve the quality of salmon oil, proteins and calcium, prepared of fresh salmon off-cuts. HBC's objective is to contribute to the efficient use of marine resources and deliver quality products for ingredients and finished consumer products in the nutrition market.

Hofseth BioCare's headquarters are located in Ålesund, Norway with branches in Oslo, Chicago, Mumbai and Tokyo. HBC is listed on Oslo Stock Exchange Axess list with ticker "HBC". More information about Hofseth BioCare at www.hofsethbiocare.com and www.facebook.com/hofsethbiocare