Axactor SE

NMG - The private placement shares have been converted and will be tradable from on or about 4 December 2015

Press release dated 2015-12-02

Reference is made to the stock exchange announcement dated 24 November 2015

regarding the share capital increase in Nickel Mountain Group AB (publ.)

(the "Company", ticker "NMG") in connection with the private placement of

400,000,000 shares (the "Private Placement Shares").

The Company has received confirmation from the Swedish Companies Registry that

the Private Placement Shares have been converted into ordinary shares in the

Company. The conversion of the Private Placement Shares is expected to be

reflected in Euroclear and the VPS on or about 4 December 2015. The Private

Placement Shares will consequently be listed and tradable on the Oslo Stock

Exchange under the trading symbol "NMG" from on or about 4 December 2015. The

Company will notify when the conversion of the Private Placement Shares in

Euroclear and the VPS has been completed.

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

Torbjörn Ranta

For information, please contact Torbjörn Ranta

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.

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