Spectra7 Microsystems Inc. (TSXV:SEV) announced best efforts brokered private placement of up to 220,000,000 units on April 12, 2021. The company will issue securities in one or more tranches. Each unit will consist of one common share and one share purchase warrant exercisable at CAD 0.05 per share for a period of 5 years from issuance, subject to adjustment upon certain customary events. The expiry date of the warrants can be accelerated by the company at any time following the date that is four months and one day after the closing of the transaction and prior to the expiry date of the warrants if the closing price of the common shares on the TSX Venture Exchange is greater than CAD 0.08 for any 10 non-consecutive trading days. The transaction is expect to close on or about May 7, 2021. Insiders of the company may subscribe to 25% of units. The closing of the transaction is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.