Archelon AB (publ) (OM:ALON B) acquired 99.64% in Nickel Mountain Resources AB from Nickel Mountain Group AB (publ) (OB:NMG) for SEK 0.57 million in stock on December 31, 2015. As per the consideration, Archelon issued 3.55 million shares. Also, Archelon plans to spin off Nickel Mountain Resources to its own shareholders sometimes in 2016 if possible and at such point in time, Nickel Mountain Group will receive free of charge a share interest in the new public entity of 15%. Also, a component of the sales proceeds is a future profit sharing if the Nickel Mountain Resources is sold to any third party before the end of 2018.

Archelon AB (publ) (OM:ALON B) completed the acquisition of 99.64% in Nickel Mountain Resources AB from Nickel Mountain Group AB (publ) (OB:NMG) on December 31, 2015.