Spectra7 Completes Share Consolidation

Spectra7 Completes Share Consolidation-01

Spectra7 Microsystems Inc. (“Spectra7” or the “Company“), announces that it has filed articles of amendment to consolidate the Company’s issued and outstanding common shares on the basis one new common share for every 50 existing common shares (the “Consolidation“). Effective at the opening on Friday, Aug. 13, 2021, the common shares of Spectra7 Microsystems Inc. will commence trading on the TSX Venture Exchange and the OTCQB Venture Market on a consolidated basis.

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As a result of the Consolidation, the 1,056,538,784 common shares issued and outstanding prior to the Consolidation have been reduced to approximately 21,130,778 common shares. Each shareholder’s percentage ownership in the Company and proportional voting power remains unchanged after the Consolidation, except for minor changes and adjustments resulting from the treatment of any fractional common shares.

The exercise price of the Company’s outstanding common share purchase warrants and the conversion price of the Company’s outstanding convertible debentures have been adjusted in accordance with the Consolidation. For further details on the Consolidation

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