POET Technologies Announces the Signing of a Collaboration Agreement with BAE Systems and Corporate Updates - Seite 2

Mr. Daniel DeSimone, POET's Chief Technology Officer noted: "Our agreement with BAE Systems is a significant step in our "Lab-to-Fab" transition. BAE Systems has a long history of high quality manufacturing with III-V materials, and brings process development expertise and manufacturing discipline to the relationship. We have collaborated with BAE Systems numerous times over the last 2 years, most recently to successfully transfer our most critical process loop into their facility. Encouraged by this track record, we are excited to be extending this collaboration to develop the full flow on 3-inch and later 6-inch wafers."

Formation of Technology Roadmap Advisory Board

The Company announces the formation of a "Technology Roadmap Advisory Board" comprising of Dr. Geoff Taylor, Ajit Manocha, and Tony Blevins. This Advisory Board collectively has extensive expertise in the semiconductor industry, supply chain management and operations, consumer products, and key technology markets, with over 100 years of combined experience.

This Advisory Board will act as advisors to the Board of Directors and the Executive team with primary focus on optimizing and accelerating the company's "Lab-to-fab" transition and commercialization plans. "The Company is looking forward to leveraging the newly formed Advisory Board's semiconductor market expertise and execution track record," said Mr. Peter Copetti, Executive Co-Chairman and interim CEO.

Further Updates

The Company intends to provide a full financial update with the filing of annual audited financial statements and Management Discussion and Analysis which will be issued in April. Further details of the aforementioned third party services contract will be provided at that time.

Option Grant

The Board approved the grant of 500,000 stock options to Mr. Daniel DeSimone, pursuant to the Company's stock option plan. Pursuant to TSX Venture Exchange policies, and based on market price, the exercise price of the options was at CA$1.65 per share and expire on March 30, 2020. The options will vest and be exercisable on the basis of 25% six months after the date of issue and 25% every six months thereafter. Dr. Geoff Taylor, POET's Chief Scientist noted: "Dan has been instrumental in recent successes and has advanced our engineering discipline and process methodology, benefitting our process IP development and prototype milestone activities."