Spectra7 Announces New Silicon Valley Headquarters

SAN JOSE, CA --(Marketwired - May 01, 2017) - (TSX: SEV) Spectra7 Microsystems Inc. ("Spectra7" or the "Company"), a leading provider of high-performance analog semiconductor products for virtual reality (VR), augmented reality (AR), data center and other connectivity markets, is pleased to announce the move of its corporate headquarters from Palo Alto, CA to San Jose, CA.

Benefits of the Company's new headquarters include nearly doubling the size of its current facility in Palo Alto, lowered operating costs, improved engineering facilities and closer proximity to key customers. It also offers on-site amenities and reduced travel time for employees. The new location benefits from a VTA Light Rail station, direct access to Highway 101 and Interstate 880, and is less than one mile to San Jose International Airport.

"Moving our headquarters to San Jose will both reduce Spectra7's operating expenses and allow room to scale the company," said CEO Raouf Halim. "As we continue to grow our revenues and penetrate new markets, we intend to provide improved support to our rapidly growing pipeline of Tier 1 customers as well as a higher quality workplace environment to grow our talented team."

The new address of the Company's headquarters is 2550 North First Street, Suite 500, San Jose, CA 95131.

ABOUT SPECTRA7 MICROSYSTEMS INC.

Spectra7 Microsystems Inc. is a high-performance analog semiconductor company delivering unprecedented bandwidth, speed and resolution to enable disruptive industrial design for leading electronics manufacturers in virtual reality, augmented reality, data centers and other connectivity markets. Spectra7 is based in Palo Alto, California with design centers in Markham, Ontario, Cork, Ireland, and Little Rock, Arkansas. For more information, please visit www.spectra7.com.

CAUTIONARY NOTES

Certain statements contained in this press release constitute "forward-looking statements". All statements other than statements of historical fact contained in this press release, including, without limitation, those regarding the Company's future financial position and results of operations, strategy, proposed acquisitions, plans, objectives, goals and targets, and any statements preceded by, followed by or that include the words "believe", "expect", "aim", "intend", "plan", "continue", "will", "may", "would", "anticipate", "estimate", "forecast", "predict", "project", "seek", "should" or similar expressions or the negative thereof, are forward-looking statements. These statements are not historical facts but instead represent only the Company's expectations, estimates and projections regarding future events. These statements are not guarantees of future performance and involve assumptions, risks and uncertainties that are difficult to predict. Therefore, actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. Additional factors that could cause actual results, performance or achievements to differ materially include, but are not limited to the risk factors discussed in the Company's annual MD&A for the year ended December 31, 2016. Management provides forward-looking statements because it believes they provide useful information to investors when considering their investment objectives and cautions investors not to place undue reliance on forward-looking information. Consequently, all of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein, and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company. These forward-looking statements are made as of the date of this press release and the Company assumes no obligation to update or revise them to reflect subsequent information, events or circumstances or otherwise, except as required by law.