Axactor SE

Share Issue/Capital Change • Nov 24, 2015

NMG - Increase in share capital related to private placement of 400,000,000 new shares

NMG - Increase in share capital related to private placement of 400,000,000 new shares

PRESS RELEASE DATED 2015-11-24

Reference is made to the stock exchange announcement dated 17 November 2015

regarding the resolution by the extraordinary general meeting of Nickel Mountain

Group AB (publ.) ("NMG" or the "Company", ticker "NMG") to increase the share

capital in the Company related to the private placement of 400,000,000 new

shares (the "Private Placement").

The Company has received confirmation that the share capital increase of SEK

200,000,000 divided into 400,000,000 shares (the "Private Placement Shares") has

been registered by the Swedish Companies Registry. The Private Placement has

hence been completed. The new registered share capital of NMG is consequently

SEK 245,404,680 divided into 490,809,360 shares, each with a par value of SEK

0.50.

In anticipation of publication of a prospectus, and for technical and legal

reasons pertaining to system requirements of Euroclear, the VPS and listing of

the Private Placement Shares on the Oslo Stock Exchange, the Private Placement

Shares will initially be issued in a share class separate from the remaining

shares of the Company and registered with Euroclear and the VPS under the

International Securities Identification Number ("ISIN") SE0007756929. The

Private Placement Shares will carry a voting right at general meetings equal to

99.9% of the voting right attached to each ordinary share in the Company. As

soon as practicably possible after the publication of the prospectus, the

Private Placement Shares will be converted into ordinary shares of the Company,

equal in all respects with the other shares of the Company. As of the same date,

the Private Placement Shares will shift ISIN from the aforementioned ISIN to the

ISIN of the Company's ordinary shares, ISIN SE0005569100, and be tradable on the

Oslo Stock Exchange under the trading symbol of the Company's ordinary shares,

"NMG".

The Company will issue a stock exchange announcement once the Private Placement

Shares are converted into ordinary shares of the Company and are tradable on the

Oslo Stock Exchange.

For and on behalf of Nickel Mountain Group AB

Torbjörn Ranta

For information, please contact Torbjörn Ranta

Mail: torbjorn.ranta@nickelmountain.se

Tel: + 46 8 402 28 00

Cell Phone: +46 708 855504

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act

Cautionary Statement: This announcement is not and does not form a part of any

offer for sale of securities. Copies of this announcement are not being made and

may not be distributed or sent into the United States, Australia, Canada, Japan

or any other jurisdiction in which such distribution would be unlawful or would

require registration or other measures. The securities referred to in this

announcement have not been and will not be registered under the U.S. Securities

Act of 1933, as amended (the "Securities Act"), and accordingly may not be

offered or sold in the United States absent registration or an exemption from

the registration requirements of the Securities Act and in accordance with

applicable U.S. state securities laws. The Company does not intend to register

any part of the offering in the United States or to conduct a public offering of

securities in the United States. Any offering of the securities referred to in

this announcement will be made by means of a prospectus. This announcement is

not a prospectus for the purposes of Directive 2003/71/EC (together with any

applicable implementing measures in any Member State, the "Prospectus

Directive"). Investors should not subscribe for any securities referred to in

this announcement except on the basis of information contained in the

aforementioned prospectus. 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.