Replies to post #8563 on Spectra7 Microsystems Inc (SEV)

[SEV123]

From March 5th PR.....PP

Proposed Private Placement of Equity Securities

The Company also announces its intention to effect a modest private placement of equity securities to certain institutional investors and insiders of the Company (the "Private Placement"), in order to provide working capital to support the production ramp of its new ACC semiconductor products, as well as general corporate purposes. The Company is working with advisors in Canada and the United States in this regard. The Private Placement is expected to close in March 2024, and is subject to receipt of all necessary approvals, including the approval of the TSX Venture Exchange.

Consenting Holders and Board members have indicated that they intend to participate in the Private Placement.

"Our outlook is for revenue growth in the second-half of this year and into 2025, driven by strong adoption of our market-leading ACC semiconductor products", said Mr. Halim.