Bluelake Mineral AB has resolved that record date for reversed share split shall be on January 11, 2021

The extraordinary general meeting in Bluelake Mineral AB (publ) (the "Company") held on 17 December 2020 (the "Extraordinary General Meeting") resolved on a reversed share split whereby 20 existing shares are merged into one (1) new share, in order to achieve a number of shares appropriate for the Company (the "Reverse Share Split"). The Board of Directors of the Company has today, based on the authorization from the Extraordinary General Meeting, decided that the record date for the Reverse Share Split shall be on January 11, 2021.

Timetable for the Reverse Share Split:

January 7, 2021: Last day of trading in the Company's share, before the Reverse Share Split.

January 8, 2021: First day of trading in the Company's share, after the Reverse Share Split. The trading price will from and including this day reflect the effect of the Reverse Share Split.

January 11, 2021: Record date for the Reverse Share Split.

The shareholders do not have to take any actions to take part of the Reverse Share Split. If a shareholder's holding of shares does not correspond to a full number of new shares, such shareholder will receive so many shares (1-19) from Dividend Sweden AB (the "Guarantor") free of charge so that the shareholding, after the addition of the shares provided by the Guarantor (so-called supplemental shares), will be evenly divided by 20, so-called rounding up. Provision of such supplemental shares is carried out through Euroclear Sweden AB, without the need for further action by the shareholders.

As a consequence of the Reverse Share Split, the Company's shares will change ISIN-code. From and including January 8, 2021, the share will be traded with the new ISIN SE0015382148.

Through the Reverse Share Split, the total number of shares in the Company will decrease from 825,988,440 shares to 41,299,422 shares. Each share will have a quota value of SEK 2 per share following the Reverse Share Split.

The Extraordinary General Meeting further resolved that the Company's share capital shall be reduced by SEK 78,468,901.80, without withdrawal of shares, for transfer to a free fund to be used pursuant to a resolution adopted by the general meeting (the "Reduction of the Share Capital"). The quota value of the shares will, through to the Reduction of Share Capital, be reduced from SEK 2 to SEK 0.10 per share (taking into account the Reverse Share Split). The Company's share capital will thus after the Reduction of the Share Capital amount to SEK 4,129,942.20. In order to implement the Reduction of the Share Capital, approval is required from the Swedish Companies Registration Office, which the Company expects to receive during the end of February/beginning of March 2021.

Stockholm, December 2020
Nickel Mountain Resources AB (publ)
The Board of Directors

Additional information
For additional information, please contact:
Peter Hjorth, Managing Director, Nickel Mountain Resources AB (publ), phone [phone]
Email: [e-mail]