2019-10-25 11:34 ET - News Release

SAN JOSE, Calif., Oct. 25, 2019 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) (OTCQX: POETF; TSX Venture: PTK), the designer and developer of the POET Optical Interposer and Photonic Integrated Circuits (PICs) for the data center and tele-communication markets, today announced that shareholders approved the sale of Company’s subsidiary, DenseLight Semiconductors Pte. Ltd. (“DenseLight”) to DenseLight Semiconductor Technology (Shanghai) Co. Ltd (the “Buyer”).

At the Company’s Special Meeting of Shareholders (the “Special Meeting”), held on October 24, 2019, shareholders  voted overwhelmingly in support of the resolution (the “Share Sale Transaction Approval Resolutions”) approving the sale with 99.78% of total votes submitted by POET shareholders either in person or represented by proxy at the Special Meeting, in accordance with the requirements of the TSX Venture Exchange. The Company plans to file and make the report of voting results available on SEDAR.

Pursuant to the terms of the Transaction under the Share Sale Agreement and pending the satisfaction of all other conditions of Closing, POET intends to announce the completion of the Transaction upon its Closing.