POET Technologies Extends Exercise Period for Warrants from 2018 Public Offering

TORONTO, June 29, 2020 (GLOBE NEWSWIRE) -- POET Technologies, Inc. (OTCQX: POETF; TSX Venture: PTK) the designer and developer of the POET Optical Interposer and Photonic Integrated Circuits (PICs) for the data center and telecommunication markets, today announced the Company has extended the expiry of warrants granted to investors in connection with its March 2018 public offering managed by Cormark Securities Inc. based in Toronto, Ontario, Canada.

The Company has extended the exercise period to September 30, 2020 for a total of 12,545,350 common share purchase warrants, all of which are exercisable at C$0.75 per share (collectively, the “Warrants”).  These existing Warrants were issued pursuant to a public offering completed by Cormark on March 21, 2018 with a two-year period in which to exercise.  The expiry of the Warrants was previously extended from March 23, 2020 to July 23, 2020. All other terms and conditions of the Warrants remain unchanged.  The Warrant extension, approved by the Company’s Board of Directors, has been accepted by the Company’s Warrant agent TSX Trust and the TSX Venture Exchange.

“We have been alerted by investment banks and others in the financial community that the processing of transactions such as warrant conversions and stock issuances are taking longer with the COVID-19 restrictions, as many of the employees of these companies and agencies continue to work from home,” commented Thomas Mika, Executive Vice President & Chief Financial Officer of POET.  “The purpose of this extension is to ensure that the warrant holders have enough time to complete the exercise process, should they decide to do so.”

About POET Technologies Inc.

POET Technologies is a design and development company offering integration solutions based on the POET Optical Interposer a novel platform that allows the seamless integration of electronic and photonic devices into a single multi-chip module using advanced wafer-level semiconductor manufacturing techniques and packaging methods. POET’s Optical Interposer eliminates costly components and labor-intensive assembly, alignment, burn-in and testing methods employed in conventional photonics. The cost-efficient integration scheme and scalability of the POET Optical Interposer brings value to any device or system that integrates electronics and photonics, including some of the highest growth areas of computing, such as Artificial Intelligence (AI), the Internet of Things (IoT), autonomous vehicles and high-speed networking for cloud service providers and data centers. POET is headquartered in Toronto, with operations in Allentown, PA and Singapore. More information may be obtained at www.poet-technologies.com.