POET Technologies Closes Fifth Tranche of Convertible Debentures

NOT FOR DISSEMINATION TO U.S. NEWSWIRES OR DISCLOSURE IN THE UNITED STATES

TORONTO, Sept. 20, 2019 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) is pleased to announce that it has closed a fifth and final offering of its previously announced 12.0% convertible unsecured debentures (the “Convertible Debentures”), brokered by the Company’s financial advisor IBK Capital. The Company raised gross proceeds of C$182,000 through the fifth tranche closing and, together with the approximately C$4.9 million in gross proceeds collectively raised from the first, second, third and fourth tranche closings on April 4, May 3, June 3, and August 6, 2019, respectively, the Company has now raised approximately C$5.1 million. IBK Capital was paid a cash commission of 5.0% of the gross proceeds raised.

Proceeds from the fifth 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 October 2019. The Company does not expect to offer any further tranches related to this series of Convertible Debentures. 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 January 20, 2020. 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.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States.

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. More information may be obtained at www.poet-technologies.com.

Shareholder Contact:

Shelton Group

Brett L. Perry

sheltonir@sheltongroup.com Company Contact:

Thomas R. Mika, EVP & CFO

tm@poet-technologies.com