Poet closes $862,000 third tranche of placement

2019-06-03 17:52 ET - News Release

Mr. Thomas Mika reports

POET TECHNOLOGIES CLOSES THIRD TRANCHE OF CONVERTIBLE DEBENTURES

Poet Technologies Inc. has completed the third tranche closing of its previously announced private placement of 12.0 per cent convertible unsecured debentures, brokered by the company's financial adviser IBK Capital. The Company raised gross proceeds of C$862,000 through the third tranche closing and, together with the approximately C$3.4 million raised from the first and second tranche closings on April 4, 2019 and May 3, 2019, respectively, the Company has now raised approximately C$4.3 million of Convertible Debentures. IBK Capital was paid a cash commission of 5.0% of the gross proceeds raised.

Proceeds from the third tranche of Convertible Debentures are expected to be used to fund operations pending the completion of the Company's previously announced sale of its subsidiary DenseLight Semiconductors Pte Ltd., expected in September 2019. The Company expects to continue to solicit interest from potential subscribers for additional tranches of Convertible Debentures over the coming weeks and months. Any subsequent tranches to be completed will be subject to the approval of the TSX Venture Exchange. For a complete description of the terms of the Convertible Debentures, refer to the Company's press release of April 1, 2019.

The Convertible Debentures are subject to a hold period of four months expiring on October 4, 2019. The Convertible Debentures may be converted in accordance with their terms prior to the expiry of the hold period, but the common shares and warrants comprising the units issued on such conversion (as well as any common shares issued on exercise of such warrants) will be subject to the unexpired balance of the four month hold period.

About Poet Technologies Inc.

Poet Technologies is a developer and manufacturer of optical light source products for the sensing and data communications markets. Integration of optics and electronics is fundamental to increasing functional scaling and lowering the cost of current photonic solutions. Poet believes that its approach to hybrid integration of devices, utilizing a novel dielectric platform and proven advanced wafer-level packaging techniques, enables substantial improvements in device cost, efficiency and performance. Optical engines based on this integrated approach have applications ranging from data centers to consumer products. Poet is headquartered in Toronto, with operations in Ottawa, Silicon Valley, the United Kingdom, and Singapore.

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