Spectra7 Microsystems Inc.
TSX VENTURE : SEV

Spectra7 Microsystems Inc.

October 03, 2013 14:46 ET

Spectra7 Announces Resignation of Non-Executive Director

TORONTO, ONTARIO and PALO ALTO, CALIFORNIA--(Marketwired - Oct. 3, 2013) -

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Spectra7 Microsystems Inc. (TSX VENTURE:SEV) ("Spectra7" or the "Company"), a high performance analog semiconductor company delivering unprecedented speed, resolution and signal fidelity to consumer and wireless infrastructure products, today announced that Ted Anderson has resigned from the Board of Directors.

Mr. Anderson was originally appointed to the Board of Directors to represent Ventures West 8 Limited Partnership's ("VW8LP") investment but the recent appointment of Five Corners Capital Inc. as the General Partner to manage the remaining portfolio of VW8LP was the catalyst for his resignation.

"Ventures West has been a loyal, long term shareholder and Ted's vision and dedication over the past few years was instrumental in the evolution of Spectra7," commented Tony Stelliga, CEO of Spectra7. "We'll miss his guidance and genuine passion towards the business and wish him all the best in his future endeavours."

ABOUT SPECTRA7 MICROSYSTEMS INC.

Spectra7 Microsystems Inc. (TSX VENTURE:SEV) 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 the bottlenecks and 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 was recently identified by CIBC World Markets as one of Canada's hottest technology companies in a report published in June 2013. 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.

Certain information in this news release may constitute forward-looking information. This information is based on current expectations that are subject to significant risks and uncertainties that are difficult to predict. Actual results might differ materially from results suggested in any forward-looking statements. Spectra7 assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those reflected in the forward looking-statements unless and until required by securities laws applicable to Spectra7. Additional information identifying risks and uncertainties is contained in Spectra7's filings with the Canadian securities regulators available at www.sedar.com.

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

Contact Information