Axactor SE

Legal Proceedings Report • Jun 3, 2014

NMG: The claim against the former directors of Nickel Mountain Group AB has been filed with the Stockholm District Court

NMG: The claim against the former directors of Nickel Mountain Group AB has been filed with the Stockholm District Court

Nickel Mountain Group AB ("NMG") has filed a claim with the Stockholm

District Court against the former directors of NMG's board, Ulrik

Jansson, Hans Lindroth, Terje Engström Lien and Jukka Kallio. The claim

is based on their involvement in the Ghana Gold transaction in January

2013 and currently totals 50,548,765 Swedish kronor plus interest.

Accrued interest as of 3 June 2014 totals 3,903,063 Swedish kronor.

As a result of the Ghana Gold transaction, NMG paid out essentially all

its cash to Alluvia Mining, a Jersey based company. NMG has not been

able to receive any repayment from Alluvia Mining. Because of this, NMG

has experienced difficulties in conducting normal business activities.

The Ghana Gold transaction has been described in more detail in NMG's

regular reporting and the Statement of Claim submitted to the Stockholm

District Court on 3 June 2014 will be published on our website.

NMG has engaged Urban Båvestam and Maria Bruder at Advokatfirman

Westermark Anjou as counsel to handle the law suit.

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

Torbjorn Ranta

Managing Director

For information, please contact: Torbjorn Ranta

Managing Director

Tel: +46 8 402 28 00

Mobile: +46 708 855504

E-mail: torbjorn.ranta@nickelmountain.se

or

Erlend Dunér Henriksen Deputy board member Mobile: +47 920 18 950 E

-mail: erlend@henriksen.as

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

The vision of Nickel Mountain Group AB is to be an explorer and miner

recognized for our attractive assets and ability to effectively run

projects from exploration to commercialization, leaving a lasting

footprint within the regions we operate through investments, community

engagement and transfer of expertise.