InspireSemi Announces Listing Release Date as Part of Pre-Announced Privacy Policy

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VANCOUVER, British Columbia and AUSTIN, Texas, Dec. 13, 2024 (GLOBE NEWSWIRE) — Inspire Semiconductor Holdings Inc. (TSXV: INSP) (“InspireSemi” or the “Company”), a chip design company that provides revolutionary high-performance, energy-efficient computing solutions for accelerated High Performance Computing (HPC), AI, graph analytics, and other heavy computer workloads, announces that following the approval of a majority of the Company’s shareholders at the annual general and special meeting held on November 20 2024 (the “The meeting”) the board of directors of InspireSemi (the “The board”) have now approved voluntary delisting (the “To remove from the list“) of the voting shares owned by Inspire from the TSX Venture Exchange (“The TSXV“).

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The Board requested that the Listing be effective at the close of trading on December 31, 2024 and InspireSemi expects, subject to final TSXV approval, that InspireSemi’s underlying voting shares will cease trading on the TSXV at the close of business on December 31, 2024.

InspireSemi has not applied for the simultaneous listing of any of its shares on any other market, and therefore following the Delisting there will be no trading market for the Company’s shares. InspireSemi will remain a reporting issuer in the provinces of British Columbia, Alberta and Ontario following the Delisting.

InspireSemi believes that Delisting offers a number of advantages, including lower management costs as a private company and, if necessary, access to additional sources of funding that it found unavailable while listed. The company feels that its team will now have greater freedom to focus on growing the InspireSemi business while retaining the option of a future US exchange listing.

For more information regarding the Delisting, readers are encouraged to review the Company’s management information circular (“A circle“) dated 21 October 2024 which was prepared in connection with the Meeting. The prospectus is available under the Company’s SEDAR+ profile at www.sedarplus.ca and on its website at www.inspiresemi.com/investors.

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In addition, InspireSemi will soon prepare an FAQ for security managers that attempts to address common questions asked about delisting and which will be posted on its website at www.inspiresemi.com/investors as soon as possible.

About InspireSemi

InspireSemi (TSXV: INSP) provides fast, energy-efficient flexible computing solutions for accelerated High-Performance Computing (HPC), AI, graph analytics, and other demanding workloads. The Thunderbird I ‘supercomputer-cluster-on-a-chip’ is a disruptive, next-generation accelerator designed to address many underserved and diverse industries, including financial services, computer-aided engineering, energy, climate modeling, cybersecurity, and health. science and drug discovery. Based on the RISC-V standard open instruction set architecture, InspireSemi solutions set new standards for performance, energy efficiency, and system simplification. InspireSemi is headquartered in Austin, TX.

For more information visit https://inspiresemi.com
Follow InspireSemi on LinkedIn

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Company Contact
Ron Van Dell, CEO
(737) 471-3230
rvandell@inspiresemi.com

Cautionary Statement Regarding 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 about InspireSemi’s goals, objectives, strategies, priorities, objectives, plans, beliefs, expectations and estimates, as well as the business, operations, financial performance and condition of InspireSemi are forward-looking statements. Generally, but not always, forward-looking information can be identified by using words such as “plans”, “anticipated”, “anticipated”, “budget”, “planned”, “estimates”, “forecasts”, “intends”, “expects” , or “believes” or variations (including negative variations) of such words and phrases, or statements made in the future or indicating that certain actions, events. or the results “may”, “could”, “could” or “will” (or some variation of the foregoing) be taken, occur, be achieved, or be achieved.

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Forward-looking information includes, but is not limited to, information regarding delistings and any future listings. Forward-looking information is based on current competitive, financial and economic information and operating plans, strategies or beliefs as of the date of this presentation, but involves known and unknown risks, uncertainties, assumptions and other factors that could cause InspireSemi’s actual results, performance or achievements, to differ materially from those any future results, performance or achievements expressed or implied by 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 information and all forward-looking statements contained in this news release are expressly qualified by this cautionary statement.

Investors are cautioned that forward-looking information is not based on historical facts but rather reflects management’s expectations, estimates or assumptions regarding future results or events based on management’s opinions, assumptions and evaluations that are considered reasonable on 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 that they believe are not unreasonable in all circumstances. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events may differ materially from those anticipated in such statements. Therefore, readers should not place undue reliance on forward-looking information.

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If the assumptions underlying the forward-looking information prove to be incorrect, actual results may differ materially from those described herein as intended, planned, anticipated, believed, estimated or anticipated. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results to differ from those expected, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as required by applicable law.

Neither the Exchange nor its Legal Services Provider (as that term is defined in Exchange policies) accepts responsibility for the adequacy or accuracy of this release.

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