AGORACOM Small-cap Investor Relations Blog

• Completed its previously announced brokered private placement (the “Placement”) of 14,706,000 units of the Company (the “Units”) at a price of $0.85 per Unit (the “Issue Price”) for gross proceeds of approximately $12.5 million.
• Founder and former chairman of Origin House, Marc Lustig was the lead participant in the Placement.

TORONTO, Feb. 11, 2021 — POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; OTCQX: POETF), the designer and developer of the POET Optical Interposer™ and Photonic Integrated Circuits (PICs) for the data center and tele-communication markets, announces that it has completed its previously announced brokered private placement (the “Placement”) of 14,706,000 units of the Company (the “Units”) at a price of $0.85 per Unit (the “Issue Price”) for gross proceeds of approximately $12.5 million. Founder and former chairman of Origin House, Marc Lustig was the lead participant in the Placement.

Cormark Securities Inc. acted as lead agent together with a syndicate of agents that included IBK Capital Corp. and PI Financial Corp. (collectively, the “Agents”). The Agents exercised in full an option (the “Agents’ Option”) for the purchase of an additional 2,941,200 Units on the same terms. Gross proceeds from the exercise of the Agents’ Option were approximately $2.5 million bringing the aggregate proceeds raised from the Placement to approximately $15.0 million from the issuance of the cumulative 17,647,200 Units.

Each Unit consists of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one additional Common Share at a price of $1.15 per Common Share for a period of 24 months from the issuance date thereof. The Warrants are subject to an accelerated expiry, exercisable at the option of the Company, if, on or following the date that is four months and one day after the date of issuance of the Units and prior to the expiry date of the Warrants, the daily volume weighted average trading price of the Common Shares exceeds $2.30 for ten consecutive trading days. The Issue Price represents a discount of 5.5% of the volume weighted average trading price of the Common Shares on the TSX Venture Exchange (“TSXV”) for the 5 trading days ended immediately prior to the announcement of the Placement on January 26, 2021.

Read more: https://agoracom.com/ir/POETTechnologies/forums/discussion/topics/755177-poet-technologies-completes-c-15-million-private-placement/messages/2303234#message

• Announced a brokered private placement led by Cormark Securities Inc. of up to 11.8 million units at a price of $0.85 per Unit, to raise gross proceeds of up to $10.0 million .
• Marc Lustig , founder and former Chairman of Origin House has committed to be a lead participant in the Placement.

TORONTO , Jan. 26, 2021 – POET Technologies Inc. (” POET ” or the ” Company “) (TSX Venture: PTK) (OTCQX: POETF), the designer and developer of the POET Optical Interposer™ and Photonic Integrated Circuits (PICs) for the data center and tele-communication markets, is pleased to announce a brokered private placement (the ” Placement “) led by Cormark Securities Inc. (” Cormark “) of up to 11.8 million units (the ” Units “) at a price of $0.85 per Unit, to raise gross proceeds of up to $10.0 million . Marc Lustig , founder and former Chairman of Origin House has committed to be a lead participant in the Placement.

Suresh Venkatesan , Chairman and CEO of POET Technologies commented: “We are extremely pleased to see this investment led by Marc Lustig , a well-known Canadian entrepreneur and investor. We are happy to have Marc as a supporter at this point in POET’s growth plan and the proceeds of this offering will strengthen the Company’s balance sheet while streamlining the Company’s plans to seek an additional listing for its Common Shares on NASDAQ Capital Market.”

Each Unit will consist of one common share of the Company (a ” Common Share(s) “) and one Common Share purchase warrant (a ” Warrant “). Each Warrant will entitle the holder to purchase one additional Common Share at a price of $1.15 per Common Share for a period of 24 months following the closing of the Placement. The Warrants are subject to an accelerated expiry if, following the date that is four months and one day after the date of issuance of the Units and prior to the expiry date of the Warrants, the daily volume weighted average trading price of the Shares exceeds $2.30 for ten consecutive trading days. The Placement price of $0.85 per Unit represents a discount of 5.5% of the VWAP (volume weighted average price) of POET’s Common Shares on the TSX Venture Exchange (” TSXV “) for the 5 trading days ended January 25, 2021 .

Closing of the Placement is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the TSXV. Closing of the Placement is anticipated to occur on or about February 11, 2021.

Read More: https://agoracom.com/ir/POETTechnologies/forums/discussion/topics/753933-poet-technologies-announces-brokered-private-placement-of-units/messages/2300228#message