Doug Norton Named Chief Marketing Officer and Thomas Fedorko Named Chief Operating Officer
Company Also Announces Increase to Size of Private Placement and Issuance of Stock Options
“Given the strong response we have received for our compelling High-Performance Computing (HPC)/AI accelerator platform, we are pleased to announce these key promotions," said
As Chief Marketing Officer,
As Chief Operating Officer,
The appointments are subject to the approval of the
Increase to Previously Announced Non-Brokered Private Placement
The Company also announced that, due to strong demand, it has increased the size of the previously announced non-brokered private placement offering of convertible debenture units (the "Units") of the Company, first announced in a press release dated
The Company previously announced by press release dated
As previously announced by press release dated
Please refer to the Company’s press releases dated
The closing of the Offering and the Amendment is subject to receipt of all necessary regulatory approvals, including the acceptance of the TSXV.
Issuance of Stock Options
The Company also announced its board of directors approved the grant of stock options dated
All of the Options are exercisable for a ten-year term expiring
1,309,651 of the Options are fully vested as of the date of grant. 3,551,512 of the Options vest in equal monthly amounts over 4 years, with vesting commencement dates in both January and
All of the Option grants are subject to the approval of the TSXV.
About InspireSemi
InspireSemi is an
For more information, visit https://inspiresemi.com/
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Investor Relations Contact
KCSA Strategic Communication
inspiresemi@kcsa.com
Company Contact
(737) 471-3230
jkennedy@inspiresemi.com
Cautionary Statement on Forward-Looking Information
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (“forward-looking statements”). Statements concerning InspireSemi’s objectives, goals, strategies, priorities, intentions, plans, beliefs, expectations and estimates, and the business, operations, financial performance and condition of InspireSemi are forward-looking statements. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”, “would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass.
Forward-looking information includes, but is not limited to, information regarding: (i) the business plans and expectations of the Company including expectations with respect to production and development; and (ii) expectations for other economic, business, and/or competitive factors. Forward-looking information is based on currently available competitive, financial and economic data and operating plans, strategies or beliefs as of the date of this presentation, but involve known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, performance or achievements of InspireSemi, to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors may be based on information currently available to the Company including information obtained from third-party industry analysts and other third-party sources, and are based on management’s current expectations or beliefs. Any and all forward-looking information contained in this news release is expressly qualified by this cautionary statement.
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Forward-looking information reflects management’s current beliefs and is based on information currently available to them and on assumptions they believe to be not unreasonable in light of all of the circumstances. In some instances, material factors or assumptions are discussed in this news release in connection with statements containing forward-looking information. Such material factors and assumptions include, but are not limited to: (i) statements relating to the business and future activities of, and developments related to, the Company after the date of this press release;(ii) expected satisfaction of all closing conditions in connection with the Offering and Amendment, including receipt of final approval from the
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
Neither the TSX Venture nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture) accepts responsibility for the adequacy or accuracy of this release.
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