Nickel Mountain Group AB: NMG: 9 Month Interim Report for the Period January – September 2014 - Nickel Mountain Group (publ) AB

Regulatory News:

Nickel Mountain Group AB (STO:NMG) (OSE:NMG)

Highlights during the 3rd quarter 2014

· A Norwegian new main owner, Strata Marine & Offshore AS, on August 29th acquired a 28.9% interest in NMG from Altro Invest AB.

· The new main owner in September called for an EGM, which took place after the end of the report period in October.

· The net result after tax for the 9-month period January – September 2014 amounted to MSEK –11.8 (MSEK –90.0). This corresponds to earnings per share (EPS) of SEK –0.55 (SEK –0.50). The EPS figure for 9 m 2013 is before a reversed share split 10:1 conducted in end of December 2013. The sale of former subsidiary IGE Diamond in June 2014 has positively affected the net result for the report period by approximately MSEK +2.

· The total comprehensive loss for the first nine months of 2014 was MSEK –12.9 (MSEK –96.1).

· The net result after tax for the July – September quarter of 2014 amounted to MSEK –1.6 (MSEK –4.3). This corresponds to earnings per share (EPS) of SEK –0.07 (SEK –0.02).

· The total comprehensive loss for the 3rd quarter of 2014 was MSEK –1.6 (MSEK -2.6).

Events after the end of the report period

· NMG called for an EGM on September 10, which took place on October 10, 2014. A new Board of Directors was appointed and a fully underwritten rights issue was approved.

· The rights issue amounted to some 68 million NOK, and the terms of the issue were 3 new shares for 1 existing share on the record date. Issue price was 1 NOK/share.

· The subscription period lasted between October 23 and November 6. All the new shares were subscribed. The guarantee consortium that had underwritten the rights issue picked up some 12% of the issued shares.

· During autumn 2014 the first statements of defence from the defendants in the civil court case initiated by NMG against its former board members have been received. The ruling by the Stockholm District Court is expected not earlier than towards year end 2015, maybe not until 2016.

· The financial and liquidity situation of the group is following the completed rights issue for the first time in some 20 months satisfactory. · On October 20, the Supreme Administrate Court issued a positive ruling from NMG’s point of view in terms of the granted exploitation permits.

An EGM of NMG will be convened on December 17, 2014 where it is being proposed to elect PricewaterhouseCoopers as new auditor of the parent company and of the group.

(Complete report for the third quarter 2014 available at http://news.cision.com/nickel-mountain-group-ab/r/nmg--9-month-interim-report-for-the-period-january---september-2014--nickel-mountain-group--publ--ab,c9687299)

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