Valoe Corporation Issues a 3 Million Euro Convertible Bond. The Company Has Received Subscription Commitments of EUR 2.65 Million for the Convertible Bond.

Valoe Corporation                     Stock Exchange Release 19 January 2021 at 13.30 (Finnish time)

In order to strengthen Valoe Corporation's working capital situation and capital structure, the company issues a convertible bond of EUR 3.0 million at the most. The Convertible Bond is a capital loan. The convertible bond can be converted to max. 75,000,000 new shares of the company. The subscription price is EUR 0.04 per share.

No interest shall be paid to the capital of the Convertible Bond.

The convertible bond is issued in deviation from the shareholders' pre-emptive subscription rights to the parties separately approved by the Board of Directors.

The minimum amount of subscription of the convertible bond shall be EUR 100,000 entitling the convertible bondholder to subscribe for 2,500,000 new shares of the company. The Convertible Bond can also be subscribed against indisputable loan receivable of at least EUR 100,000 the Subscriber has from the Company at the time of subscription by converting the loan capital and/or interest receivable into the Convertible Bond in accordance with the terms of this Convertible Bond.

The loan period shall commence on the payment date and expire on 15 December 2022 on which date the convertible bond shall expire to be repayable in its entirety in accordance with the terms of the loan. The subscription period of the shares under the convertible bond shall begin on 15 May 2021 and expire on 15 December 2022.

The subscription period of the convertible bond shall expire on 29 January 2021 at 6:00 p.m. The board of directors of the company has the right to approve the subscriptions at any time during the subscription period. In the event the convertible bond shall be oversubscribed, the board of directors of the company shall resolve on the allocation between the subscribers.  The board of directors of the company has the right to discontinue the subscription period of the convertible bond at any time. The board of directors shall also have the right to decide on extending the subscription period.