Axactor SE

Share Issue/Capital Change • Dec 28, 2015

NMG - Increase in share capital

NMG - Increase in share capital

Press release dated 2015-12-28

Reference is made to the stock exchange announcement dated 14 December 2015 by

Nickel Mountain Group AB (publ.) ("Nickel Mountain Group" or the "Company",

ticker "NMG") regarding the result in the subsequent repair offering (the

"Repair Offering").

The Company has received confirmation that the share capital increase of SEK

30,000,000 divided into 60,000,000 shares (the "Repair Shares") has been

registered by the Swedish Companies Registry. The Repair Offering has hence been

completed. The new registered share capital of Nickel Mountain Group is SEK

298,307,180 divided into 596,614,360 shares, each with a par value of SEK 0.50.

The Company will issue a stock exchange notification once the Repair Shares are

tradable on the Oslo Stock Exchange, expected to be on or about 30 December,

For and on behalf of the Board of Directors of Nickel Mountain Group AB

Torbjorn Ranta

For information, please contact Torbjorn Ranta

Mail: torbjorn.ranta@nickelmountain.se

Tel: + 46 8 402 28 00

Cell Phone: +46 708 855504

www.nickelmountain.se

Cautionary Statement: Statements and assumptions made in this document with

respect to Nickel Mountain Group AB's ("NMG") current plans, estimates,

strategies and beliefs, and other statements that are not historical facts, are

forward-looking statements about the future performance of NMG. Forward-looking

statements include, but are not limited to, those using words such as "may",

"might", "seeks", "expects", "anticipates", "estimates", "believes", "projects",

"plans", strategy", "forecast" and similar expressions. These statements reflect

management's expectations and assumptions in light of currently available

information. They are subject to a number of risks and uncertainties, including,

but not limited to, (i) changes in the economic, regulatory and political

environments in the countries where NMG operates; (ii) changes relating to the

geological information available in respect of the various projects undertaken;

(iii) NMG's continued ability to secure enough financing to carry on its

operations as a going concern; (iv) the success of its potential joint ventures

and alliances, if any; (v) metal prices, particularly as regards nickel. In the

light of the many risks and uncertainties surrounding any mineral project at an

early stage of its development, the actual results could differ materially from

those presented and forecast in this document. NMG assumes no unconditional

obligation to immediately update any such statements and/or forecasts.