Issuance of Corporate Bond

21 October 2019

ADAMAS FINANCE ASIA LIMITED

(the "Company" or "ADAM")

Issuance of Corporate Bond

Adamas Finance Asia Limited (AIM: ADAM), the London quoted company focused on providing shareholders with attractive uncorrelated, risk adjusted returns from a diversified portfolio of pan-Asian investments, is pleased to announce that it has successfully raised gross proceeds of approximately US$1.9million through the issuance of a US Dollar-denominated corporate bond to family offices in the Middle East (the "Corporate Bond"), representing the first close of a corporate bond issuance programme of up to US$10 million.

This Corporate Bond, which matures in October 2022, has a cash coupon with an interest rate of 12.5% per annum payable semi-annually and is secured with a fixed and floating charge on the corporate assets of the Company. The Company reserves the right to change the terms of any future corporate bond issuance.

John Croft, Chairman of Adamas Finance Asia Limited, commented:

"We are pleased to announce this fresh capital, which will be reinvested in our pipeline of attractive higher income yielding investments in emerging and established small and medium sized enterprises across Asia. The Board considers this the most appropriate method to raise the capital that the Company currently requires to fund our initial investment pipeline, whilst adding new investors into ADAM and diversifying the Company's sources of funding.

Harmony Capital, our investment manager, who, through rigorous diligence and disciplined risk management, remains dedicated to delivering attractive income and capital growth for shareholders with significant downside protection through selectively investing in assets and proactively managing them."

For further information, please visit the Company's website at http://adamasfinance.com and follow the Company on Twitter (@AdamasFinance).

FOR FURTHER INFORMATION, PLEASE CONTACT:

The information contained within this announcement is deemed by the Company to constitute inside information under the Market Abuse Regulation (EU) No. 596/2014

About Adamas Finance Asia

Adamas Finance Asia Limited (ADAM) is quoted on the AIM Market of the London Stock Exchange and is committed to providing shareholders with attractive uncorrelated, risk adjusted long-term returns from a combination of realising sustainable capital growth and delivering dividend income.

The Company is focused on providing growth capital and financing to emerging and established Small and Medium Enterprises (SME) sector throughout Asia, well diversified by national geographies, instruments and asset classes. This vital segment of the economy is underserved by the traditional banking industry for regulatory and structural reasons.

The Company's investment manager, Harmony Capital, seeks to capitalise on its team's established investment expertise and broad networks across Asia. Through rigorous diligence and disciplined risk management, Harmony Capital is dedicated to delivering attractive income and capital growth for shareholders with significant downside protection through selectively investing in assets and proactively managing them.

Harmony Capital is predominately sourcing private opportunities and continues to create a strong pipeline of attractive income generating assets from potential investments in growth sectors across Asia, including healthcare, fintech, hospitality, IT and property.