POET Technologies Announces the Settlement of Fees for Common Shares to AGORACOM

Rhea-AI Summary

POET Technologies Inc. (POETF) announced it will issue 16,782 common shares to AGORACOM as part of a marketing service agreement, settling fees of C$15,000 plus HST at a share price of C$1.01. This issuance represents the second tranche of five agreed installments of shares instead of cash payments. The transaction is subject to regulatory approvals from the TSX Venture Exchange. POET focuses on developing optical interposer solutions, enhancing efficiency in electronic and photonic device integration, particularly in high-growth computing sectors.

Positive

• Issuing shares instead of cash preserves liquidity for POET.
• Partnership with AGORACOM could enhance investor relations and market presence.

Negative

• Issuing shares may dilute existing shareholders' equity.

TORONTO, April 23, 2021 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; OTCQX: POETF), 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 per its previously reported agreement with AGORACOM, the Company will be issuing 16,782 common shares as settlement of fees for services rendered.

In connection with its marketing campaign with AGORACOM, the Company intends to issue 16,782 common shares at yesterday’s closing price of C$1.01 to settle fees of C$15,000 plus HST for services rendered. The issuance of these common shares will be the second of an agreed five tranches of common shares to be issued to AGORACOM in lieu of cash payment for their services. The issuance of these common shares is subject to the TSX Venture Exchange policies and regulatory approvals.

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.

Shareholder Contact for POET: Shelton Group Brett L. Perry sheltonir@sheltongroup.com

Company Contact for POET: Thomas R. Mika, EVP & CFO tm@poet-technologies.com

This news release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding any potential outcome. Such statements include the Company’s expectations with respect to the success of the Company’s product development efforts, the performance of its products, the expected results of its operations, meeting revenue targets, and the expectation of continued success in the financing efforts, the capability, functionality, performance and cost of the Company’s technology as well as the market acceptance, inclusion and timing of the Company’s technology in current and future products.

Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be incorrect. Assumptions have been made regarding, among other things, management’s expectations regarding the success and timing for completion of its development efforts, financing activities, future growth, recruitment of personnel, opening of offices, the form and potential of its planned joint venture, plans for and completion of projects by the Company’s third-party consultants, contractors and partners, availability of capital, and the necessity to incur capital and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation, the failure of its products to meet performance requirements, lack of sales in its products, once released, operational risks in the completion of the Company’s anticipated projects, a delay or abandonment of its planned joint venture, delays in recruitment for its newly opened operations or changes in plans with respect to the development of the Company’s anticipated projects by third-parties, risks affecting the Company’s ability to execute projects, the ability of the Company to generate sales for its products, the ability to attract key personnel, and the ability to raise additional capital. Although the Company believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance that such expectations will prove to be correct. Forward-looking information and statements contained in this news release are as of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and statements except as required by law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

120 Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P 1E2- Tel: 416-368-9411 - Fax: 416-322-5075

FAQ

What is the recent announcement from POET Technologies regarding shares?

POET Technologies announced the issuance of 16,782 common shares to AGORACOM to settle fees of C$15,000 plus HST as part of an agreement.

How does the POET Technologies share issuance affect shareholders?

The issuance of shares may lead to dilution of existing shareholders' equity.

What is the price per share for the recent POET Technologies issuance?

The shares will be issued at a closing price of C$1.01.

How many tranches are involved in the POET Technologies agreement with AGORACOM?

The agreement includes five tranches for share issuance in lieu of cash payments.

What is the purpose of POET Technologies' partnership with AGORACOM?

The partnership aims to enhance marketing efforts and investor relations for POET.