SEABIRD EXPLORATION COMPLETES FUNDING OF ITS SUBSIDIARY GREEN MINERALS

November 25, 2020

Seabird Exploration announces plan for funding and listing of 100 per cent owned subsidiary Green Minerals AS (GM).
Green Minerals to issue MNOK 30 in equity to new investors
Seabird will own between 75pc and 79pc of GM post issue
GM to seek listing on Euronext Growth Oslo
Seabird intends to spin off parts of the ownership in GM to its own shareholders, while remaining a large owner
Green Minerals will have 5000 shareholders and be fully funded until license award when listing on Euronext Growth Oslo
Some of the largest shareholders in Seabird, the Executive Chairman and at least one board member have pre-committed to subscribe to the offering
Term sheet, subscription documents and a presentation of Green Minerals can be found on www.greenminerals.no
Green Minerals enables the worlds drive towards electrification and digitization in a sustainable manner. We do this by deep sea mining of marine minerals and Rare Earth Elements (REE) key to the green shift, eliminating the social costs in onshore mining while reducing the environmental footprint and solving a strategic need for EU and USA.
SeaBird is a global provider of high quality marine seismic operations within the source vessel and 2D market, as well as in the shallow water 3D market The Company has a strong focus on Quality, Health, Safety and Environment, combined with cost efficient services to its customers.
All statements in this press release other than statements of historical fact are forward-looking statements and are subject to a number of risks, uncertainties and assumptions that are difficult to predict, and are based upon assumptions as to future events that may not prove accurate. These factors include SeaBird’s reliance on a cyclical industry and the utilization of the company’s vessels.
SeaBird is a global provider of marine 2D and 3D seismic data acquisition for the oil and gas industry. The company is the market leader in the high-end 2D seismic services segment and a leading provider of niche 3D and source vessel solutions. Seabird Exploration is listed on the Oslo Stock Exchange with headquarters in Cyprus. They also have regional offices in Houston, Texas and Oslo.
(Source: Seabird)