POET Technologies Announces Closing of C$6.2 Million Non-Brokered Private Placement of Units and Reports Preliminary Unaudited Fiscal Fourth Quarter and Fiscal Year 2024 Results - Seite 3

Other Updates

Further to the Corporation's news release on December 4, 2023 announcing the closing of a US$1.6 million public offering of common shares and warrants in the United States, in connection with that closing, the Corporation paid a cash commission of US$112,518, being 7% of the gross proceeds of the public offering, to Maxim Group LLC, which acted as agent in respect of that offering.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States or any other jurisdiction in which such offer, solicitation or sale would be unlawful. No securities may be offered or sold in the United States or in any other jurisdiction in which such offer or sale would be unlawful absent registration under the U.S. Securities Act of 1933, as amended, or an exemption therefrom or qualification under the securities laws of such other jurisdiction or an exemption therefrom.

Caution Regarding Preliminary Financial Data

The preliminary financial data as of December 31, 2023 and for the three and twelve months then ended presented in this press release are preliminary, remain subject to the completion of normal year-end accounting procedures and adjustments and, therefore, are subject to change. Furthermore, the Corporation's independent public accounting firm has not reviewed, audited or performed other procedures with respect to such preliminary results, and their audit or other procedures could result in changes to the preliminary data presented. This preliminary financial data should not be viewed as a substitute for full financial statements prepared in accordance with International Financial Reporting Standards and are not necessarily indicative of the results to be achieved for any future period.

About POET Technologies Inc.

POET 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, Shenzhen, China and Singapore. More information may be obtained at www.poet-technologies.com.