Mr. Omar Javaid reports

SPECTRA7 ANNOUNCES APPROVAL OF PARADE TECHNOLOGIES SALE TRANSACTION, RESULTS OF ANNUAL MEETING

Spectra7 Microsystems Inc. has released the results of its annual and special meeting of shareholders, held on April 17, 2025.

As part of the meeting, the company's shareholders approved the proposed sale of substantially all of the assets of the company, pursuant to the terms of the previously announced asset purchase agreement dated March 7, 2025, between the corporation and Parade Technologies Ltd. Shareholders also approved the proposed delisting of the company's common shares from the TSX Venture Exchange, conditional upon the approval and completion of the sale transaction.

The sale transaction is expected to close in the week following the meeting, but remains subject to the satisfaction or waiver of the remaining conditions precedent set out in the purchase agreement. Please see the company's news release dated March 7, 2025, and the management information circular relating to the meeting dated March 18, 2025, for a comprehensive description of the sale transaction and purchase agreement.

Shareholders also voted to:

• Authorize the creation of new control persons (as such term is defined in the policies of the TSX-V) in connection with the exercise of outstanding prefinanced warrants of the company;
• Elect Raouf Halim, Omar Javaid, Roger Maggs, Christopher Morgan and Ronald Pasek as directors;
• Appoint MNP LLP, chartered accountants, as the auditor for the ensuing year.

About Spectra7 Microsystems Inc.

Spectra7 Microsystems 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, mixed reality, data centres and other connectivity markets. Spectra7 is based in San Jose, Calif., with a design centre in Cork, Ireland, and a technical support location in Dongguan, China.

We seek Safe Harbor.