Poet Technologies Inc (POET)

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POET Technologies Inc. Announces C$8 Million Bought Deal Financing

8:54 am ET March 12, 2018 (Globe Newswire)

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES.

POET Technologies Inc. (TSXV:PTK) (the "Company") has entered into an agreement with Cormark Securities Inc. (the "Underwriter") pursuant to which the Underwriter has agreed to purchase on a bought deal basis 14,545,500 units of the Company (the "Units") at a price of C$0.55 per Unit, representing total gross proceeds of C$8,000,025 (the "Offering"). Closing is expected on or about March 21, 2018 and is subject to regulatory approval including that of the TSX Venture Exchange.

Each Unit will consist of one common share of the Company (each a "Share") and one-half of one common share purchase warrant (each whole common share purchase warrant a "Warrant"). Each full Warrant shall entitle the holder to purchase one Common Share at a price equal to C$0.75 for a period of 24 months following the closing of the Offering.

The Underwriter also has an option to purchase up to an additional 2,181,815 Units at the offering price (representing 15% of the Offering) on the Closing Date for market stabilization purposes and price to cover over-allotments for a period of 30 days after the date of Closing.

The net proceeds of the Offering will be used by the Company for general corporate matters.

The Units to be issued under this offering will be offered in accordance with the terms of a prospectus supplement to be filed in all provinces in Canada except Quebec and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended, and such other jurisdictions as may be agreed upon by the Company and the Underwriter.

This press release is not an offer or a solicitation of an offer of securities for sale in the United States. The Units have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") and may not be offered or sold in the United States or to, or for the benefit of, any "U.S. person" (as defined in Regulation S under the U.S. Securities Act) absent registration or an applicable exemption from registration.

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 both hybrid and monolithic 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 to military applications. POET is headquartered in Toronto, with operations in Silicon Valley, the United Kingdom, and Singapore. More information may be obtained at www.poet-technologies.com.

https://finance.yahoo.com/news/poet-technologies-inc-announces-c-125442054.html