POET Augments Investor Outreach Efforts and Announces Management Role Change

TORONTO, April 17, 2024 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposer and Photonic Integrated Circuits (PICs) for the data center, telecommunication and AI markets, today announced that it has augmented its investor outreach through two new engagements with external service providers. It also announced a change in the role of Vivek Rajgarhia, the Company’s President & General Manager.

POET has retained Hybrid Financial Ltd. (“Hybrid”) to connect the Company to a select group of technology investors identified from a database of over 1,400 buy-side funds in the United States and 200 in Canada that hold shares in companies that are valued less than US$100 million, plus a larger number of broker-dealer firms and financial advisors. The agreement with Hybrid is for an initial period of 6-months starting April 1, 2024 (the “Initial Term”) and may be renewed automatically for successive 3-month periods thereafter. Hybrid will be paid a monthly fee of CAD$15,000, plus applicable taxes, during the Initial Term.

Commencing later this month, LFG, an independent contractor based in the Greater Toronto Area, will provide advice, content development, and marketing services through social media channels and on-line media and newsletter placements for the Company. The agreement includes an initial payment of USD$25,000 with an option to increase at the Company’s discretion.

Neither Hybrid nor LFG Equities currently hold shares in POET, and both have agreed to comply with all applicable securities laws and the policies of the TSX Venture Exchange (the “TSXV”) in providing the Services.

Management Role Change
The Company is also announcing a change in the role of Vivek Rajgarhia, who has served as the Company’s President & General Manager since November 2019. Mr. Rajgarhia will remain an employee of POET but will transition from executive officer to the role of Corporate Development Advisor to the CEO, effective immediately. This scope change, initiated by Mr. Rajgarhia, will provide him with the time that he has requested to attend to certain personal matters, but will also allow him to continue his important role in providing both strategic advice to the CEO and management team.