Oslo, 23 June 2025
Reference is made to the stock exchange announcements from Standard Supply AS (to be rebranded to StandardCoin AS) (the "Company" or "Standard") published on 19 June 2025 regarding the rebranding of the Company to StandardCoin AS and launch and completion of a private placement of new shares in the Company (the "Private Placement") raising gross proceeds of NOK 40 million.
On 20 June 2025, the Financial Supervisory Authority of Norway (the “NFSA”) sent a letter notifying that it would examine the Company’s business in light of the requirements set out in the Management of Alternative Investment Funds Act (the “AIF act”) and requested relevant information for this assessment.
The Company wishes to clarify that the Company’s Bitcoin Investments is a first step of its long-term strategy, where the Company’s management will work to identify, explore and develop attractive value-creating opportunities within the cryptocurrency-sector. This includes operational business, intellectual properties, other assets and third-party partnerships, with the overall purpose of providing its shareholders with exposure to both cryptocurrencies and related ventures.
The Company believes it does not classify as an AIF under the AIF Act and will work with the NFSA to clarify this matter.