Spectra7 Microsystems Inc (SEV)

[SteveSchiets]

June 17, 2019
SAN JOSE, CALIFORNIA- (Business Wire) Spectra7 Microsystems Inc. (TSX: SEV) (“Spectra7” or the “CompanyAgent”) to act as agent in connection with a best efforts prospectus offering of up to 60,000,000 units (“Units”) of Spectra7 at a price of $0.05 per Unit (the “Offering Price”) for gross proceeds to the Company of up to $3.0 million (the “Public Offering”).

ach Unit shall consist of one common share of the Company (“Common Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to acquire one Common Share at an exercise price of $0.08 per Common Share for a period of five years following the closing of the Public Offering (“Closing”). The expiry date of the Warrants may be accelerated by the Company at any time if the volume weighted average trading price of the Common Shares on the facilities of the Toronto Stock Exchange (or such other exchange on which the Common Shares trade) is greater than $0.16 for any 10 consecutive trading days following the date that is four months and one day after the closing of the Public Offering.

http://www.spectra7.com/2019financialjune