Spectra7 Microsystems Inc.
TSX VENTURE : SEV

Spectra7 Microsystems Inc.

October 08, 2013 10:51 ET

Spectra7 Announces Option Grants and RSU Awards to Officers

TORONTO, ONTARIO and PALO ALTO, CALIFORNIA--(Marketwired - Oct. 8, 2013) - Spectra7 Microsystems Inc. ("Spectra7" or the "Company") (TSX VENTURE:SEV), a high performance analog semiconductor company delivering unprecedented speed, resolution and signal fidelity to consumer and wireless infrastructure products, today announced the grant of stock options and restricted share units to certain officers of the Company.

Options to purchase up to 60,000 common shares were granted pursuant to the Company's stock option plan, exercisable at a price of Cdn$0.76 per common share for a term of 7 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, 212,000 restricted share units were awarded pursuant to the Company's restricted share unit plan, of which 60,000 restricted share units shall vest according to the above schedule and 152,000 restricted share units shall vest in equal monthly installments over the next 12 months.

About Spectra7 Microsystems Inc.

Spectra7 Microsystems Inc. is a high performance analog semiconductor company delivering unprecedented speed, resolution and signal fidelity to consumer and wireless infrastructure products. Spectra7's new system-level components address throughput bottlenecks and satisfy the exponential demand for more bandwidth and lower costs in mobile and internet infrastructure equipment, including handsets, tablets, base stations and microwave backhaul systems. Spectra7 is headquartered in Markham, Ontario with development centers in Silicon Valley, Irvine, California and Cork, Ireland. For more information, please visit www.spectra7.com.

Caution Regarding Forward-Looking Information

Except for statements of historical fact contained herein, the information in this press release constitutes "forward-looking information" within the meaning of Canadian securities law. Such forward-looking information may be identified by words such as "plans", "proposes", "estimates", "intends", "expects", "believes", "may" and "will". There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from such statements. Factors that could cause actual results to differ materially include, among others, regulatory risks, risks inherent in foreign operations, commodity prices, competition, and investments having no history of operations. Most of these factors are outside the control of the Company. Investors are cautioned not to put undue reliance on forward-looking information. Except as otherwise required by applicable securities statutes or regulation, the Company expressly disclaims any intent or obligation to update publicly forward-looking information, whether as a result of new information, future events or otherwise.

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.

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