Offering price is $3.75

TORONTO, Sept. 25, 2024 (GLOBE NEWSWIRE) -- POET Technologies Inc. ("POET" or the "Corporation") (TSXV: PTK; NASDAQ: POET), the designer and developer of the POET Optical Interposer™, Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and artificial intelligence markets, is pleased to announce that it has completed a non-brokered private placement with a single institutional investor pursuant to which the Corporation issued 4,000,000 common shares (the "Common Shares") and an accompanying warrant exercisable for an aggregate of up to 2,000,000 Common Shares (each, a “Warrant Share”) at an exercise price of $5.00 (or approximately C$6.78) per Common Share (the "Warrant") for aggregate gross proceeds of US$15,000,000 (the “Offering”). The combined price of one Common Share and accompanying Warrant in respect of one-half Common Share was US$3.75 (or approximately C$5.09). Subject to the terms of the Warrant, the Warrant is exercisable, in whole or in part, for a period of five years from the date of issuance.