Axactor SE

Share Issue/Capital Change • Nov 18, 2014

NMG: Share capital increase registered

Reference is made to the stock exchange announcement by Nickel Mountain Group AB (the "Company") on 7 November 2014 regarding the result of the NOK 68 million Rights Issue.

The share capital increase pertaining to the 68,107,020 new shares issued in the Rights Issue has now been registered with the Swedish Companies Register.

The Company's new registered share capital is SEK 45,404,680, corresponding to a total of 90,809,360 shares with a nominal value of SEK 0.50 per share.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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

Torbjörn Ranta

Managing Director

For more information, please contact:

Torbjörn Ranta

Managing Director

Tel: +46 8 402 28 00

Mobile: +46 708 855504

E-mail: torbjorn.ranta@nickelmountain.se

Cautionary Statement: Statements and assumptions made in this document with respect toNickel MountainGroupAB'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 usingwords 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 whereNMGoperates; (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 fromthose presented and forecast in this document. NMGassumes no unconditional obligation to immediately update any such statements and/or forecasts.