Poet Technologies Inc. has received notice confirming a delay of the final payment in connection with the sale of its Singapore-based DenseLight subsidiary, which was due on May 31, 2020.

The Buyer cited the wide-ranging impacts that COVID-19 has had on businesses globally and the lengthy administrative process associated with transfers of funds outside of China. The Company is continuing to work closely with the Buyer to address the current challenges associated with the transfer of the final payment and remains confident the remaining balance and timing will be resolved in a mutually beneficial manner.