POET Technologies Announces Non-Brokered Private Placement

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TORONTO, Nov. 18, 2022 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Corporation“) (TSXV: PTK; NASDAQ:POET) is pleased to announce that it is undertaking a non-brokered private placement of up to 1,798,561 units of the Corporation (the “Units“) at a price of C$3.81 (US$2.78) per Unit, for aggregate gross proceeds of up to approximately C$6.85 million (US$5.0 million) (the “Offering“). Each Unit will be comprised of one common share of the Corporation (each, a “Common Share“) and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a “Warrant“), with each Warrant entitling the holder thereof to purchase one additional Common Share at a price of C$4.95 (US$3.61) per Common Share for a period of three years following the closing date of the Offering. The net proceeds of the Offering are expected to be used for general corporate purposes.

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