Axactor SE

Share Issue/Capital Change • May 28, 2014

NMG: Record date for the separation of African Diamond AB from Nickel Mountain Group AB - Approved prospectus - Share issue

NMG: Record date for the separation of African Diamond AB from Nickel Mountain Group AB - Approved prospectus - Share issue

·        * Record date for the separation of African Diamond AB from

Nickel Mountain Group AB will be June 4, 2014

·        * A prospectus required for carrying out the final

registration of the recent set-off issue has been filed with and

approved by the Swedish Financial Supervisory Authority (SFSA)

·        * In accordance with the May 8, 2014 EGM, board directors and

other related parties will receive in total 1,474,619 new shares issued

as a result of the debt set-off approved on the EGM

Dividend of ADIAM shares

Nickel Mountain Group AB (NMG) is pleased to announce that the long

-awaited record date for the distribution of shares in subsidiary

African Diamond AB ("ADIAM") will be Wednesday, June 4, 2014. All

shareholders of NMG will get one (-1-) free share in African Diamond AB

for every share held in the share register of NMG on June 4, 2014. ADIAM

thereby gets separated completely from NMG as a stand-alone legal

entity.

Last day of trading inclusive the right to obtain free shares in African

Diamond AB is Friday May 30, 2014.

It is intended to list African Diamond AB at a stock exchange in Sweden

or Norway as soon as practically possible after the separation.

A short information memorandum describing certain basic facts related to

African Diamond AB and the dividend process is attached to this

pressrelease.

Prospectus filed with Swedish SFSA

In accordance with the Extraordinary General Meeting of NMG held on May

8, 2014, a debt set-off issue was approved on that shareholders'

meeting. In total 1,474,619 new shares were issued then for an issue

price of SEK 3.80 per share. The final allocation of shares has been

pending a required prospectus being approved by the Swedish Financial

Supervisory Authority (SFSA). This approval has now been granted. A copy

of the prospectus is available at the website of the Company -

www.nickelmountain.se.

Allocation of shares to Board Directors and other related parties of NMG

Thereby, these shares get allocated in time for the recipients to

participate in the distribution of ADIAM-shares. For the sake of record,

the 1,474,619 shares issued on the May 8 EGM were allocated in the

following way:

Subscriber       Number of shares Loan amount to be set-off (SEK)

Altro Invest AB  1.179.580               4.482.404

Renud Invest AS         114.997                  436.988,60

Svein Breivik      153.132                  581.901,60

Ole Weiss         26.910                  102.258

-------------------------------------------------------------

1.474.619               5.603.552,20

All of these recipients are registered as insiders in NMG.

Renud Invest AS is wholly owned by deputy Board member Erlend Dunér

Henriksen

After registration of this set-off issue by the Swedish Companies

Registrar, the total share capital of the Company will amount to SEK

11,351,170 and the new number of shares outstanding will be 22,702,340

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

Torbjörn 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 contact:

Erlend Dunér Henriksen

Deputy board member

Mobile: +47 920 18 950

E-mail: erlend@henriksen.as

Nickel Mountain Group AB (publ) is a Swedish company headquartered in

Stockholm. The Company's shares are listed on the Oslo Stock Exchange

(ticker: NMG). Please refer to www.nickelmountain.se for more detailed

information.

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.