13D Filing: Nokomis Capital and Sequans Communications SA ADR (SQNS)

---

Nokomis Capital, as the investment adviser of the Nokomis Accounts, may be deemed to beneficially
own the 8,344,513 shares of Common Stock held by the Nokomis Accounts, representing approximately 9.9% of the issued and outstanding shares of Common Stock of the Issuer. This amount consists of (i) 4,503,513 shares of Common Stock,
(ii) options presently exercisable for the receipt of 41,000 shares of Common Stock and (iii) 3,800,000 shares of Common Stock receivable by the Reporting Persons upon conversion of the amount of the Convertible Notes presently convertible by
the Reporting Persons.

In addition, Mr. Hendrickson, as principal of Nokomis Capital, the investment adviser of the Nokomis
Accounts, may also be deemed to beneficially own the 8,344,513 shares of Common Stock beneficially owned by the Nokomis Accounts, representing approximately 9.9% of the issued and outstanding shares of Common Stock of the Issuer.

Nokomis Capital and Mr. Hendrickson disclaim beneficial ownership of the Common Stock held by the Nokomis Accounts except to the extent
of their pecuniary interest therein.

(b) Nokomis Capital and Mr. Hendrickson has the shared power to vote and dispose of the Common
Stock owned by the Nokomis Accounts reported in this Schedule 13D.

The filing of this Schedule 13D shall not be construed as admission
that Nokomis Capital or Mr. Hendrickson is, for the purposes of Section 13(d) or 13(g) of the Act, or otherwise, the beneficial owner of any of the 8,344,513 shares of Common Stock owned by the Nokomis Accounts. Pursuant to Rule 13d-4, Nokomis Capital and Mr. Hendrickson disclaim all such beneficial ownership.

(c) There have
been no transactions in the Common Stock during the past sixty (60) days by the Reporting Persons.

(d) No person other than the
Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Common Stock.

(e) Not applicable.

Item 6.

Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer

The responses to Item 4 are incorporated herein by reference.

Other than as described herein, there are no contracts, arrangements, understandings or relationships among the Reporting Persons, or between
the Reporting Persons and any other person, with respect to the securities of the Issuer.

Item 7.

Material to be Filed as Exhibits

Exhibit 99.1		Joint Filing Agreement by and between Nokomis Capital and Mr. Hendrickson dated November 7, 2017.