POET Reports on Share Sales under ATM Program for the Quarter Ending September 30, 2023

TORONTO, Oct. 13, 2023 (GLOBE NEWSWIRE) -- POET Technologies Inc. (the "Company" or “POET”) (TSXV: PTK; NASDAQ: POET) hereby reports on the sales under the Company's "at-the-market" equity program (the "ATM Program") during the fiscal quarter ended September 30, 2023.

The ATM Program was initially active in both the United States and Canada pursuant to an equity distribution agreement dated June 29, 2023 among the Company, Craig-Hallum Capital Group LLC ("Craig-Hallum") and Cormark Securities Inc. ("Cormark") and conducted under a prospectus supplement dated June 29, 2023 to the Company's short form base shelf prospectus dated June 30, 2021 and U.S. registration statement on Form F-10, which included the base shelf prospectus. Following the expiry of the Company's Canadian base shelf prospectus on August 5, 2023, the Company continued the ATM Program only in the United States pursuant to an equity distribution agreement dated September 1, 2023 between the Company and Craig-Hallum and conducted under a prospectus supplement dated September 1, 2023 to the Company's base shelf prospectus dated August 18, 2023 included in the Company’s U.S. registration statement on Form F-3 (the "Registration Statement"), which Registration Statement was declared effective by the United States Securities and Exchange Commission on August 18, 2023.

During the initial cross-border phase of the ATM Program between June 29, 2023 and August 5, 2023, the Company sold an aggregate of 227,673 common shares of the Company (the "Shares") on both the TSX Venture Exchange (denominated in Canadian dollars) and Nasdaq Capital Markets (denominated in United States dollars) at an average price of C$5.82 per Share. The Company received net proceeds of approximately C$1,285,195, representing aggregate gross proceeds of approximately C$1,324,943, less aggregate cash commissions paid to Craig-Hallum and Cormark of approximately C$39,748. Dollar values disclosed above in Canadian dollars are derived from the aggregate of distributions on the TSX Venture Exchange and the Canadian-dollar equivalent of the distributions on the Nasdaq Capital Markets (based on the Bank of Canada exchange rate prevailing on each applicable sale date).