Status of subscriptions and extension of subscription period

Trondheim, Norway - Reference is made to the announcement by CrayoNano AS ("CrayoNano" or the "Company") on 3 December 2024 where the Company provided a company update and details regarding a potential capital raise through the issuance of a convertible loan (the "Convertible Loan") and the announcement on 13 December 2024 when the subscription period was extended until 17 December 2024.

The subscription period for the Convertible Loan expired today at 17:00 hours (CET). The Company has received subscriptions and indications for a substantial part of the minimum amount of NOK 15 million to be raised through the Convertible Loan, and have active initiatives towards various stakeholders for additional subscriptions to reach the minimum amount. Further, as referred to in the NOTC announcement made by the Company on 3 December 2024, the Company is scheduled to commence marketing of its strategic initiatives in early January 2025.

To facilitate the ongoing discussions with potential investors in the Convertible Loan, while also being in a position to receive initial feedback from the marketing roadshow for the strategic initiatives, the board of directors of the Company have resolved to extend the subscription period until 15 January 2025 at 17:00 hours (CET). The Company has implemented measures to ensure that it has ample liquidity to carry out its operations while pursuing these investor initiatives in January 2025.

Please see the announcement made by the Company on 3 December 2024 for further details about the Convertible Loan.

For further information, please contact:

Jo Uthus, Chairman, jo.uthus@crayonano.com
Rune Rinnan, Vice-Chairman, rune.rinnan@ntechgroup.no