SAN JOSE, Calif. , June 15, 2023 /PRNewswire/ -- (TSXV:SEV) (OTCQB:SPVNF) Spectra7 Microsystems Inc. ("Spectra7" or the "Company"), a leading provider of high-performance analog semiconductor products for broadband connectivity markets, today announces the results of its annual and special meeting of shareholders that was held on June 14, 2023.

All of the resolutions submitted for shareholder approval were adopted, including:

• the election of four directors;
• the appointment of the auditor; and
• the approval of amendments to the Company's stock option plan and restricted share unit plan (the "Amended Equity Incentive Plans").

Amended Equity Incentive Plans

The Amended Equity Incentive Plans reserve for issuance up to 7,965,460 common shares, being approximately 20% of the current issued and outstanding shares of the Company. The Amended Equity Incentive Plans are subject to final approval of the TSX Venture Exchange.

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 data centers, 5G infrastructure, virtual and augmented reality, and other connectivity markets. Spectra7 is based in San Jose, California with a design center in Cork, Ireland and technical support location in Dongguan, China. For more information, please visit www.spectra7.com. 

Neither the TSX Venture Exchange nor its regulation services provided (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For more information, please contact:

Matt Kreps
Darrow Associates
214-597-8200
ir@spectra7.com

Spectra7 Microsystems Inc.
Bonnie Tomei
Chief Financial Officer
669-212-1089
ir@spectra7.com 

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