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The Norwegian cod farmer said biomass growth and biological performance improved in the first quarter, and has since secured financing to support its scale-up plans for 2026 and 2027.

For the next five years, Havland will dedicate all its production to supplying the Norwegian cod producer, supporting its long-term growth strategy.

The Norwegian cod farmer will also conduct a subsequent repair offering aimed at existing shareholders who were not included in the private placement.

After considering a bond issue, the Norwegian cod farming company has announced a NOK 100m private placement and new debt financing of up to NOK 170m.

Higher annual revenues were overshadowed by disease-related costs in Q4, as the Norwegian cod farmer has revised its 2026 harvest outlook.

The Norwegian cod farmer reports rising prices and stable output, but warns that biological challenges due to a Vibrio outbreak last year will lead to lower harvest volumes.