POET Technologies Announces Final Extension of Exercise Period for 2018 Warrants
Wednesday, September 30, 2020 12:00:10 PM (GMT)

TORONTO, Sept. 30, 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 tele-communication markets, today announced the Company has extended, for a final time, the expiry date of warrants issued to investors in connection with its March 2018 public offering managed by Cormark Securities Inc.

The Company has extended the exercise period to November 17, 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 to September 30, 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.

Additionally, unrelated to the Warrants, the Company reported that it has made substantial progress toward completion of the definitive agreements with Sanan IC in accordance with the Letter of Intent signed by both parties on June 30, 2020. “Collectively, there are more than a dozen interrelated agreements and detailed schedules, which we previously aimed to have completed, approved and signed by the end of September,” said Thomas Mika, POET’s Executive Vice President and Chief Financial Officer.  “While there are no material terms remaining to be decided, we are still working to finalize the details of these agreements. We expect to complete and obtain the necessary approvals on all associated agreements shortly after the Golden Week holiday in China, which ends on October 10, 2020.”

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.