SeaBird Exploration Plc: Seabird Exploration to capitalize and list 100pc owned subsidiary Green Minerals on Euronext Growth Oslo

24 November 2020, Limassol, Cyprus

Seabird Exploration Plc (The Company) today announces plan for funding and listing of 100pc 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 approx 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. Actual results may differ substantially from those expected or projected in the forward-looking statements.

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

For further queries contact:

Ståle Rodahl
Executive Chairman
Mob: +47 4840 0593

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