Axactor SE

Legal Proceedings Report • Jul 3, 2015

Swedish public prosecutor files criminal charges against two former NMG board members

Swedish public prosecutor files criminal charges against two former NMG board members

Nickel Mountain Group AB (publ) ("NMG") has been informed that the Swedish

public prosecutor has filed criminal charges against two former board members of

NMG, Mrssr. Ulrik Jansson and Terje Engström Lien, for their actions in

connection with the Ghana Gold-transaction in 2013.

As reported before, NMG has filed a civil court case against Mrssr. Jansson and

Lien and the two other former board members Mrssr. Hans Lindroth and Jukka

Kaillio with regard to the same transaction. In that case, NMG is claiming

damages in an amount of MSEK 55 plus accrued interest due to the former board

members' negligent actions.

The public prosecutor's decision is beneficial to NMG in the sense that it

indicates that the prosecutor believes he can prove that Ulrik Jansson and Terje

Engström Lien committed crime when they conducted a payment of MSEK 50 in

January 2013 as a prepayment for the acquisition of Ghana Gold AB. That means

that the prosecutor holds that he can prove not only that they acted

negligently, but in fact with intent.

Should Mr. Jansson and Mr. Lien be deemed to having committed crime by the

court, NMG's civil case against these two persons will in practice also be won

by NMG. Should, on the other hand, the public prosecutor lose the criminal case,

the criminal charges still indicate that the former NMG board members acted in

the grey zone between criminal acts and gross negligence and certainly that they

acted at least negligently.

NMG is pleased with the fact that the public prosecutor takes this case

seriously and looks forward to following the criminal court case. Timing wise

the main hearing in the criminal court case may take place before NMG's civil

court case comes up to trial in the Stockholm district court.

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

Torbjörn Ranta

Managing Director

For information, please contact Torbjörn Ranta

Mail: torbjorn.ranta@nickelmountain.se

Tel: + 46 8 402 28 00

Cell Phone: +46 708 855504

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.

Torbjörn Ranta

Managing Director

Tel: 46 8 402 28 00

Mobile: 46 708 855504

E-mail: torbjorn.ranta@nickelmountain.se