Spectra7 Microsystems Inc.
TSX VENTURE : SEV

Spectra7 Microsystems Inc.

December 19, 2014 07:00 ET

Spectra7 Announces Option Grants and RSU Awards to New Director

PALO ALTO, CALIFORNIA and TORONTO, ONTARIO--(Marketwired - Dec. 19, 2014) - Spectra7 Microsystems Inc. ("Spectra7" or the "Company") (TSX VENTURE:SEV) today announced the grant of stock options and restricted share units to a director of the Company.

Options to purchase up to 50,000 common shares were granted pursuant to the Company's stock option plan, exercisable at a price of Cdn$0.73 per common share for a term of seven years, which options shall vest according to the following schedule: one-quarter shall vest on the first anniversary of the grant, and the balance will vest in equal monthly installments over the next 36 months.

In addition, 50,000 restricted share units were awarded pursuant to the Company's restricted share unit plan, which restricted share units shall vest according to the above schedule.

ABOUT SPECTRA7 MICROSYSTEMS INC.

Spectra7 Microsystems Inc. is a high performance consumer connectivity company delivering unprecedented bandwidth, speed and resolution to enable disruptive industrial design for leading consumer electronics manufacturers in Virtual Reality, Wearable Computing and Ultra-HD 4K/8K Displays. Spectra7 is based in Palo Alto, California and Markham, Ontario with a Design Center in Cork, Ireland. For more information, please visit www.spectra7.com.

CAUTIONARY NOTES

Certain statements contained in this press release constitute "forward-looking statements" within the meaning of applicable securities laws. 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 and assumptions 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. Additional factors that could cause actual results, performance and 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, 2013. Actual results may differ materially from what is expressed, implied or forecasted in such forward-looking statements. 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.

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

Contact Information

  • Spectra7 Microsystems Inc.
    Sean Peasgood
    Investor Relations
    416.565.2805
    ir@spectra7.com (FAX)

    Spectra7 Microsystems Inc.
    Melissa Chee
    Vice-President, Product Management and Corporate Marketing
    647.472.2468
    pr@spectra7.com (FAX)