Private Placement
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN OR INTO AUSTRALIA, CANADA, HONG KONG, JAPAN OR THE UNITED STATES
OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE
SECURITIES DESCRIBED HEREIN.

Ensurge Micropower ASA ("Ensurge" or the "Company") has engaged Skandinaviska
Enskilda Banken AB (publ) and SpareBank 1 Markets AS (collectively referred to
as the "Managers") to advise on and effect a contemplated private placement of
new ordinary shares in the Company (the "Offer Shares") raising gross proceeds
of NOK 50-70 million (the "Private Placement"). Certain investors have, subject
to customary conditions, undertaken to subscribe for and will be allocated
shares in the Private Placement for a total amount of circa NOK 48 million:
Robert Keith, Alden AS and Tigerstaden AS have collectively undertaken to
subscribe for NOK 27.5 million while certain other existing and new shareholders
have undertaken to subscribe for circa NOK 20 million.

The subscription price per Offer Share (the "Offer Price") and the final number
of Offer Shares to be issued will be determined by the Company's board of
directors (the "Board"), in consultation with the Managers, on the basis of an
accelerated bookbuilding process to be conducted by the Managers.

The net proceeds from the Private Placement will be used to fund the Company's
operations and development work going forward. The Company anticipates that
agreements with partners (strategic and customers) will significantly contribute
towards coverage of the Company's cash expenses from Q1 2023. Key numbers from
Q3 2022 are attached. The Q3 2022 figures are broadly in line with Company
budgets and what the Company has previously have commented