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2016-10-16

GomSpace A/S: GomSpace completes acquisition of NanoSpace AB

Press release

Stockholm

October 16, 2016

GomSpace completes acquisition of NanoSpace AB

GS Sweden AB (publ) the parent company of GomSpace ApS, has agreed
with the Swedish Space Corporation (Svenska rymdaktiebolaget, SSC) to
acquire 100% of the shares of NanoSpace AB, a wholly owned subsidiary
of SSC. Following a due diligence investigation, the transaction will
be completed tomorrow in accordance with the Letter of Intent
previously signed by both parties, and communicated on August 19,
2016.

The purchase will be paid for with 600,000 newly issued shares in GS
Sweden AB and with a cash payment of SEK 3,000,000. This new issue of
shares will be decided by the Board of Directors, as authorized by an
extraordinary general meeting held on April 28, 2016. The dilution
for the current shareholders will approximately be 2.75%.

"NanoSpace, with their truly innovative propulsion technology that can
position the satellites in space and a highly talented team, is a key
addition for executing our strategy going ahead," says Niels Buus,
CEO, GomSpace. "The acquisition supports our stated intent to build a
substantial presence in Sweden, for the dual purpose of expanding our
engineering capabilities and for developing our business."

NanoSpace develops and provides propulsion technology and products for
nanosatellites, and participates in space technology projects funded
by the European Space Agency ("ESA") and Swedish national funding
programs. GomSpace and NanoSpace also have an established partnership
in several customer projects where NanoSpace propulsion technology is
integrated with GomSpace nanosatellite platforms.

"As NanoSpace has successfully demonstrated the great potential of its
technology and is now entering - and enabling - the commercial
nanosatellite market, we are convinced that joining GomSpace is the
proper course of action for NanoSpace going into the next phase,"
says Stefan Gardefjord, CEO from SSC. "Together, we are effectively
pushing the envelope for nanosatellites to realise commercial
opportunities, and GomSpace is at the forefront of this new space
industry."

NanoSpace's propulsion technology and products are based on its
leading expertise in applying MEMS (Micro Electro Mechanical Systems)
technology to space propulsion and satellite station keeping -
providing unique advantages in miniaturization and precise thrust
control.

GomSpace is now targeting commercial nanosatellite projects which
involve constellations of satellites which fly in formation. This
requires precise positioning, which is achieved using propulsion
technology and products developed by NanoSpace.

For more information, please contact:
Niels Buus (CEO)
Tel: +45 40 31 55 57
Email: nbu @ gomspace.com

About GS Sweden AB

The Company's business operations are conducted through the
wholly-owned Danish subsidiary, GomSpace A/S, with operational office
in Aalborg, Denmark. GomSpace is a space company with a mission to be
engaged in the global market for space systems and services by
introducing new products, i.e. components, platforms and systems
based on innovation within professional nanosatellites. The Company
is listed on the Nasdaq First North Premier exchange under the ticker
GOMX. FNCA Sweden AB is the Company's Certified Adviser. For more
information, please visit our website on www.gomspace.com.

This information is information that GS Sweden AB is obliged to make
public pursuant to the EU Market Abuse Regulation. The information
was submitted for publication, through the agency of the contact
person(s) set out above, at [23:30] CET on 16th October 2016.

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http://news.cision.com/gomspace-a-s/r/gomspace-completes-acquisition-of-...
http://mb.cision.com/Main/14387/2102034/575494.pdf

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