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TORONTO, Sept. 13, 2023 /CNW/ -- (TSXV:SEV) (OTCQB:SPVNF) Spectra7 Microsystems Inc. ("Spectra7" or the "Company"), a leading provider of high-performance analog semiconductor products for broadband connectivity markets, is pleased to announce a proposed private placement to certain institutional investors and insiders of the Company (the "Private Placement") of 2,838 units of the Company (each, a "Unit") at a price of $1,000 per Unit for aggregate gross proceeds of $2,838,000. Each Unit shall consist of one 9.0% unsecured convertible debenture of the Company (each, a "Debenture" and, collectively, the "Debentures") in the principal amount of $1,000, and 1,538 common share purchase warrants of the Company (each, a "Warrant" and, collectively, the "Warrants"). Unless otherwise indicated, all dollar amounts in this press release are expressed in Canadian dollars.