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OPEL Technologies Inc. Changes Name to POET Technologies

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buccaneer1961 Member Level  Wednesday, 07/24/13 09:59:50 AM
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OPEL Technologies Inc. Changes Name to POET Technologies Inc.



OPEL Technologies Inc. (TSX VENTURE:OPL) (OTCQX:OPELF) ("OPEL" or "the Company"), announces that it has filed Articles of Amendments under the Business Corporation Act (Ontario) dated July 23, 2013, thereby changing its name to POET Technologies Inc. There is no consolidation of capital and no exchange of shares is required.

Trading under new name - It is anticipated that trading on the TSX Venture Exchange under the new name will commence on July 25, 2013, subject to confirmation by TSX Venture Exchange bulletin. The Stock Symbol "OPL" will change to "PTK" and the CUSIP and ISIN numbers have been changed to 73044W104 and CA 73044W1041 respectively. The Stock Symbol for trading in the U.S. on the OTCQX has changed from "OPELF" to "POETF".

Purpose - The purpose of the name change is to better reflect the Company's business and highlight the POET platform. "The name change to POET Technologies exemplifies the scope of the Company's current focus and is consistent with Management's efforts to monetize the POET technology and provide added value for shareholders," said Executive Director, Peter Copetti.

Semiconductor Technology - The POET (Planar Opto Electronic Technology) Platform is a patented semiconductor fabrication process that uses gallium arsenide technology to combine electronic and optical elements on a single integrated circuit, intended to enable semiconductor manufacturers to make microchips that are far faster and more energy efficient than current silicon devices, and far less expensive to produce.

Website - In conjunction with the name change, the Company is redesigning its website and has changed the domain name. The new website at www.poet-technologies.com is expected to go live on Friday, July 26, 2013.

About OPEL Technologies Inc.

OPEL is the developer of the POET platform for monolithic fabrication of integrated circuit devices containing both electronic and optical elements on a single semiconductor wafer. With head office in Toronto, Ontario, Canada, and operations in Storrs, CT, the Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory. The Company has 32 patents issued and 6 patents pending, primarily for its semiconductor POET process, which enables the monolithic fabrication of integrated circuits containing both electronic and optical elements, with potential high speed and power-efficient applications in devices such as servers, tablet computers and smartphones. OPEL's common shares currently trade on the TSX Venture Exchange under the symbol "OPL" and on the OTCQX under the symbol "POETF". For more information please visit our website at www.poet-technologies.com.

ON BEHALF OF THE BOARD OF DIRECTORS

Michel Lafrance, Secretary

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:

Grayling

Christopher Chu

(646) 284-9426

opel@grayling.com





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