Desert Control AS – Share capital increase registered
Sandnes, Norway, 10 March 2022: Reference is made to the stock exchange release by Desert Control AS ("Desert Control" or the "Company") published on 8 March 2022. The issuance of 375,040 new shares has been registered with the Norwegian Register of Business Enterprises. After the transaction, Desert Control's share capital is NOK 123,299.037 divided into 41,099,679 shares, each share having a par value of NOK 0.003 and carrying one vote in the Company’s general meeting.
For further information, please contact: Erling Rasmussen, Chief Financial Officer, + 47 482 11 151, erling.rasmussen@desertcontrol.com
About Desert Control
Desert Control specializes in climate-smart Agri-tech solutions to combat desertification, soil degradation, and water scarcity. Its patented Liquid Natural Clay (LNC) enables sustainable ecosystem management by restoring and protecting soil's ability to preserve water and increase yields for agriculture, forests, and green landscapes. LNC enables sand and degraded soil to retain water and nutrients, thus increasing crop yields and ecosystem resilience while preserving water resources by up to 50%. Agriculture and food production already consume more than 70% of all available freshwater. Desertification and soil degradation drive a negative spiral of increasing water consumption and decreasing yields for global food production. Feeding our planet's growing population will require more food in the next 40 years than was produced over the last 500 years, putting even more pressure on vital resources such as water. This is the problem Desert Control is determined to solve. According to the United Nations, thirty million acres of fertile land (equal to Pennsylvania) perish to desertification annually, representing an annual loss of $490 billion to the global economy. Desert Control's vision is to make our planet earth green again.
This information is subject to the disclosure requirements pursuant to the Euronext Growth Oslo Rule Book II