Press release
Summary
The proceeds from the Financing will be used to support the Companys go-forward strategy and general working capital needs.Each Debenture will carry a term to maturity of three years and bear interest at a rate of 10.0% per annum. Led by an accomplished team with a proven track record, it has a unique and strongly differentiated accelerated computing solution compared to existing approaches for these marketsFor more information, visit https://inspiresemi.com/ Follow InspireSemi on LinkedInThis press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws (forward-looking statements). 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. 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 managements 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. 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 Financing, including receipt of final approval from the TSX Venture Exchange; (iii) expected completion of the Financing upon the terms contemplated herein and, in any event, on terms that are no less advantageous to the Company; (iv) expectations for other economic, business, regulatory and/or competitive factors related to the Company or the technology industry generally; (v) the risk factors referenced in this news release and as described from time to time in documents filed by the Company with Canadian securities regulatory authorities on SEDAR at www.sedar.com; and (vi) other events or conditions that may occur in the future.