RightBridge Ventures decides to initiate arbitration proceedings due to broken lock-up agreement.

RightBridge Ventures Group AB ("RightBridge" or the "Company") communicated on January 31, 2023 that the Company has requested a penalty payment due to a broken lock-up agreement. The Company's Board of Directors has now decided to initiate arbitration proceedings against the counterparty Blue Horizon Investment ApS ("Blue Horizon").

In 2022, the Board realized that Blue Horizon had sold all of its shares in the Company. Blue Horizon has thus not fulfilled its obligations under the terms of the lock-up agreement nor paid the requested penalty. Considering this, the Board of Directors of RightBridge, after negotiating and offering all opportunities for dialogue, has now initiated arbitration proceedings against Blue Horizon. The Company will continuously update on the course of events as it develops.