Green Minerals AS announced that it has issued 1,160,000 shares at a subscription price of NOK 10 per share for gross proceeds of NOK 11,600,000 on September 1, 2022. The transaction included participation from Executive Chairman of the Board Ståle Rodahl, through its wholly owned company Storfjell AS for 50,000 shares, he will own 208,400 shares in the Company representing 1.5% of the issued share capital and Chief Executive Officer Ståle Monstad has been allocated 10,000 shares, currently owns 15,370 shares in the company representing 0.1% of the issued share capital and returning investors SeaBird Exploration Plc and Mh Capital As. The transaction has been approved by the board of directors of the company.

The company has provided waiver of the preferential rights inherent in a share capital increase through issuance of new shares is considered necessary.