/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR RELEASE,
PUBLICATION, DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN
WHOLE OR IN PART, IN OR INTO THE UNITED STATES/
TORONTO and PALO ALTO, CA, March 5, 2014 /CNW/ - (TSX-V:SEV) Spectra7
Microsystems Inc. ("Spectra7" or the "Company") today announced that it
has commenced a best efforts public offering of units (the "Units"),
each Unit consisting of one common share and one common share purchase
warrant (the "Offering"). The pricing and number of Units as well as
the exercise price and duration of the warrants will be determined in
the course of marketing.
Canaccord Genuity Corp. is acting as lead agent and sole book-running
manager for the Offering on behalf of a syndicate including Global
Maxfin Capital Inc., Mackie Research Capital Corporation and PI
Financial Corp. The proposed Offering is subject to customary
conditions, including the approval of the TSX Venture Exchange
("TSX-V"), and there can be no assurance as to whether or when the
proposed Offering may be completed, or as to the actual size or terms
of the Offering. The Company has applied to list the warrants on the
TSX-V.
The proposed Offering will be made by way of a short form prospectus in
each of the provinces of Canada, except Quebec. An electronic copy of
the preliminary short form prospectus is available at www.sedar.com.
The net proceeds of the Offering are expected to be used for general
corporate purposes, working capital and the balance to fund growth of
the Company's product development, engineering, marketing and sales
capabilities, and for strategic growth opportunities.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy the securities in the United States nor
shall there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful. The securities have
not been and will not be registered under the United States Securities
Act of 1933, as amended, or any state securities laws and may not be
offered or sold in the United States unless registered or an applicable
exemption from the registration requirements is available.
ABOUT SPECTRA7 MICROSYSTEMS INC.
Spectra7 Microsystems Inc. is a high performance analog semiconductor
company delivering unprecedented speed, resolution and signal fidelity
to consumer and wireless infrastructure products. Spectra7's new
system-level components address throughput bottlenecks and satisfy the
exponential demand for more bandwidth and lower costs in mobile and
internet infrastructure equipment, including handsets, tablets, base
stations and microwave backhaul systems. In June 2013, Spectra7 was
identified by CIBC World Markets as one of the hottest technology
companies. Spectra7 is headquartered in Markham, Ontario with
development centers in Silicon Valley, Irvine, California and Cork,
Ireland. For more information, please visit www.spectra7.com.
Caution Regarding Forward-Looking Information
This press release may contain forward-looking statements with respect
to Spectra7, its products and operations and the contemplated
financing. These statements generally can be identified by use of
forward-looking words such as but are not limited to "may", "will",
"expect", "estimate", "anticipate", intends", "believe" or "continue"
or the negative thereof or similar variations. The actual results and
performance of Spectra7 discussed herein could differ materially from
those expressed or implied by such statements. Such statements are
qualified in their entirety by the inherent risks and uncertainties
surrounding future expectations. Important factors that could cause
actual results to differ materially from expectations include, among
other things, general economic and market factors, competition, changes
in government regulations and the factors described under "Risk
Factors" in Spectra7's Annual Information Form for the year ended
December 31, 2012 and preliminary short form prospectus dated March 4,
2014 which are available at www.sedar.com. The cautionary statements
qualify all forward-looking statements attributable to Spectra7 and
persons acting on their behalf. Unless otherwise stated, all
forward-looking statements speak only as of the date of this press
release and Spectra7 has no obligation to update such statements.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE Spectra7 Microsystems Inc.
