Spectrum Signal Processing Announces CAD $7 Million Equity Offering

6/7/2002 - Spectrum Signal Processing Inc. (NASDAQ: SSPI / TSX:SSY), a leading provider of high-density solutions for wireless signal and Voice over Packet processing, today announced that it has entered into an agreement with a syndicate of underwriters led by Sprott Securities Inc., and including Raymond James Ltd., and Griffiths McBurney and Partners. The syndicate has agreed to purchase, on a bought deal basis, 2.31 million Common Shares of the Company at a price of CAD$3.00 per share, for gross proceeds of CAD $6,930,000. The offering, to be made on a private placement basis, is subject to the approval of the Toronto Stock Exchange and all other necessary regulatory approvals, and is scheduled to close on or about June 19, 2002.

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