SPECTRA7 MICROSYSTEMS INC - SPVNF STOCK NEWS

Spectra7 Microsystems Inc. announced on November 16, 2021 that the TSX Venture Exchange (TSXV) has conditionally accepted amendments to its 7% unsecured convertible debentures. The proposed amendment involves changing the conversion price from $5.00 to $2.50 per common share, effective from January 10, 2022 to July 9, 2022. If approved, the conversion price will remain at $2.50 until maturity. Final approval from the TSXV and an extraordinary resolution from debenture holders are pending.

Spectra7 Microsystems Inc. will present at the Ladenburg Thalmann Virtual Technology Expo on November 18, 2021, at 3:30 PM EST. CEO Raouf Halim and CFO Bonnie Tomei will lead the presentation, with one-on-one meetings available for investors. Interested parties can register to watch the presentation online. Additionally, the Company plans to release its third quarter financial results for the period ended September 30, 2021, on November 29, 2021.

Spectra7 Microsystems announced that CEO Raouf Halim will present at the LD Micro Main Event MicroCap Investor Conference on October 12, 2021, at 9:30 AM PST. Following the presentation, Halim and CFO Bonnie Tomei will conduct investor meetings. The conference, running from October 12-14, 2021 at Luxe Sunset Bel-Air, Los Angeles, will feature approximately 150 companies presenting for 25 minutes each. For those unable to attend, virtual attendance options are available.

Spectra7 Microsystems Inc. reported preliminary unaudited Q3 2021 results, expecting revenue of approximately $1.5 million, up over 400% year-over-year and 100% sequentially from Q2 2021. Gross margin is anticipated at 58%, slightly down from Q2 2021's 59%. For Q4 2021, revenue is projected to range between $2.5 million and $3.5 million, driven by a burgeoning backlog exceeding $7.2 million. The company aims for EBITDA profitability in Q4 2021, indicating strong operational growth.

Spectra7 Microsystems Inc. (OTCQB: SPVNF) has announced a significant achievement in collaboration with Foxconn, reaching error-free performance on Broadcom's Tomahawk 3 switch using their new 34AWG 200Gbps Active Copper Cable (ACC). These cables, measuring 2.5m, are thinner and more flexible than traditional options, enhancing performance in data centers. This milestone is poised to boost Spectra7's adoption in the burgeoning AI and ML markets, projected to grow at 39.7% and 43.8% CAGR respectively through 2025, indicating a robust future for the company.

Spectra7 Microsystems Inc. (SPVNF) has partnered with MultiLane Inc. to showcase its innovative 112G PAM4 GaugeChanger chip at the 2021 China International Optoelectronic Expo. This technology aims to support the increasing demand for 800Gbps data center interconnects, effectively extending copper cable reach by 2.5 times, up to 4 meters, while consuming only 200mW of power per channel—significantly lower than optical alternatives. The product is expected to enter mass production in 2022, addressing critical needs in the data center interconnect market.

Spectra7 Microsystems Inc. has filed articles of amendment to consolidate its common shares, with one new share issued for every 50 existing shares, effective August 13, 2021. This will reduce the total shares from approximately 1.06 billion to around 21.13 million. Shareholders' percentage ownership remains largely unchanged post-consolidation. Additionally, the exercise price of the company's outstanding warrants and convertible debentures will be adjusted accordingly. Spectra7 is focused on high-performance analog semiconductors for markets such as virtual and augmented reality.

Spectra7 Microsystems Inc. (OTCQB:SPVNF) will present at the SNN Network Summer Virtual Event 2021 on August 18 at 1PM ET. CEO Raouf Halim will lead the presentation and address investor questions. Interested participants can join by registering on the event's platform. The event will also offer 1-on-1 meetings via secure video conference. If unable to attend live, all presentations will be accessible afterward. Spectra7 specializes in high-performance analog semiconductor products for broadband connectivity markets.

Spectra7 Microsystems Inc. announced the appointment of Christopher Morgan to its board of directors, pending TSX Venture Exchange approval. Morgan, a former partner at Skadden, Arps, brings 30 years of experience in U.S. legal matters, particularly in cross-border transactions. His longstanding investment in Spectra7 highlights his commitment to the company. Additionally, the company updated its timeline for the consolidation of common shares, expected to commence on or about August 13, 2021.