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POET Technologies Inc.

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POET Technologies Provides Update on Recent Events
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February 06, 2019 08:00 ET | Source: POET Technologies Inc.

SAN JOSE, Calif., Feb. 06, 2019 (GLOBE NEWSWIRE) -- POET Technologies Inc. (the “Company” or “POET”) (OTCQX: POETF; TSX Venture: PTK), a designer, developer and manufacturer of optoelectronic devices, including light sources, passive wave guides, and Photonic Integrated Circuits (PICs) for the data- and tele-communication markets, today provided commentary on recent events, including the above average trading activity in its stock over the past two days.

Earlier this week, POET announced that it had received and signed a Letter of Intent (LOI) to purchase the capital stock of its wholly-owned subsidiary, DenseLight Semiconductors, which the Company acquired in mid-2016. The non-binding LOI is for a cash consideration of US$30M, including $4M in an earn-out, with a target completion date of September 15, 2019. This announcement complements other news the Company released in mid-November 2018 regarding the receipt of the first orders for POET Optical Interposer™-based solutions from leading global companies targeting data communication applications, subsequent to which the Company provided revenue guidance for 2019 of US$8-$10M representing a substantial increase over its 2018 revenue run-rate of under US$4M.

POET’s strategy is focused on its Optical Interposer, a novel platform that facilitates the co-packaging of electronics and active and passive optical components in a single Chip Scale Package. This strategy has been supported by a number of other announced events over the past 12 months, including:

Alliance with Accelink in China for information and access to optical transceiver products and markets;
Alliance with Almae in France for the co-development of lasers and modulators;
Alliance with SilTerra in Malaysia for the manufacture of its base interposer platform;
Engagement with a global company to validate POET’s designs for 400G optical engines and components;
Product announcements from DenseLight for lasers targeted at the datacom market;
Progress with internal development projects, including with:
active devices (InP-based lasers and detectors),
passive devices (dielectric waveguides and filters),
integration and core packaging technology (passive pick & place assembly, encapsulation and singulation),
flip chip laser technology, including assembly on to the interposer with integrated thermal management, consistent with our stated strategy in November to accelerate our laser development roadmap,
wafer scale hermetic cap development, a key component required for the telecom applications.

The Optical Interposer offers a disruptive price model and a unique approach to chip-level integration not achieved with other technologies. It has attracted substantial customer interest, such that the Company is dedicated primarily to delivering prototypes and engaging in customer qualifications for the balance of 2019.

Meeting the challenges of rapid growth in specialized, high-tech markets requires focused investment. By pursuing a capital efficient “fab light” strategy, POET substantially improves its ability to produce, market and sell solutions in vertical markets in datacom and beyond. Telecom, 5G Cellular, Wireless Access, Automotive LIDAR and direct optical interconnect integration with ASIC’s are all markets that need the level of photonic integration enabled by POET’s Optical Interposer.

There are also considerable financial advantages to adopting a “fab light” strategy, especially at this stage of POET’s development. Lower operating expenses decrease time to profitability and lead to higher cash flow. Lower capital investment in equipment and facilities leaves room for focused investments in design, marketing and sales. Access to non-dilutive debt financing or lower-cost equity all help to sustain and enhance long-term shareholder value.

POET’s Chief Executive Officer, Dr. Suresh Venkatesan, commented, “The elements of our strategy, which may not have been clear to our shareholders who do not have the full picture, can now come into sharper focus. We have brought together several distinctly different development efforts, acquisitions of markedly different technologies, alliances with companies small and large, and talented engineers from many different countries. All for the purpose of achieving a breakthrough, disruptive platform in the Optical Interposer. Photonics industry leaders at the highest levels are beginning to take notice of what POET is doing. While we are gratified by the attention and engagement, it also means that we must move faster and more deliberately to achieve our goal for our Interposer Optical Engines, not just in datacom, but across several vertical market opportunities.”

Dr. Venkatesan continued: “Our recent announcement of the possible sale of DenseLight takes us further toward the goal of focused execution of our strategy. There are numerous benefits to POET from the possible sale, starting with our ability to concentrate our efforts on the Optical Interposer itself, capturing all the achievements in design, process development and manufacturing that we have invested in over the past two and a half years. Having a strong relationship with well-funded global supplier of lasers and detectors, supported by a new owner that shares our vision for DenseLight is a significant advantage. Further, we are now better positioned to properly finance the Company, through September and beyond. A substantially stronger balance sheet will enhance our credibility with customers and fortify our efforts to penetrate new markets. This is truly an exciting time for POET.”

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 hybrid 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. 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.
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On February 6th, IBK hosted a phone conference with Suresh Venkatesan and Thomas Mika. A recording can be found here: cc.callinfo.com/play?id=7r2742
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POET Technologies Establishes Photonics Design Capabilities in Ottawa

- Combines Development Efforts with MillView Photonics
- POET Named to the 2019 TSX Venture 50 List of Companies
SAN JOSE, Calif., Feb. 21, 2019 (GLOBE NEWSWIRE) -- POET Technologies Inc. (the “Company” or “POET”) (OTCQX: POETF; TSX Venture: PTK), a designer, developer and manufacturer of optoelectronic devices, including light sources, passive wave guides, and Photonic Integrated Circuits (PICs) for the data- and tele-communication markets, today announced that it had entered into an agreement with the highly-respected firm, MillView Photonics, Inc. (“MillView”) to establish a collaborative design center in Ottawa, Ontario, Canada.

MillView was established two years ago by Dr. Trevor J. Hall, Professor in the School of Electrical Engineering & Computer Science and Founding Director of the Centre for Research in Photonics at the University of Ottawa. Along with his team, which includes Peng Liu, senior passive component designer, Mihail Dumitrescu, senior active component designer, and supported by doctoral and postdoctoral graduate engineers, MillView serves clients in photonics research, simulation, design and process development.

The agreement between the two companies brings together in one lab the MillView team, including Dr. Hall, additional staff from MillView, and three PhD-level photonics engineers from POET. The team is also supported by POET’s Senior Vice President, Dr. William Ring, and additional POET design engineering resources.

Commenting on the collaboration agreement, Dr. Trevor Hall, a graduate of Cambridge University, noted, “MillView Photonics was founded along the same model as Cambridge Consultants where I worked on my return to Cambridge following PhD studies at University College London, U.K. Cambridge Consultants tapped into a vast reservoir of talent to solve real-world design and engineering challenges utilizing academic/industry partnerships. MillView is similarly situated to bring in the specific talent needed to address and solve a broad range of engineering challenges in photonics. We are all really gratified to be working as a team with POET Technologies. POET’s unique Optical Interposer™ platform has tremendous market potential, and we are all committed as one team to its success.”

POET’s Chief Executive Officer, Dr. Suresh Venkatesan, commented: “POET’s partnership with MillView rapidly expands our effort with experienced photonics engineering talent and substantial simulation and design capacity. In line with our stated strategy, we have assembled a team in one place dedicated to one goal – the design and development of waveguides and filters for our Optical Interposer platform. In addition, this places POET squarely in both a region and University where photonics design and development are vibrant and pervasive. The number of companies engaged in the photonics industry and the quality of the engineering talent available is extraordinary. We are very appreciative for the reception that Dr. Hall has extended to POET that allows us to function as one team.”

2019 TSX Venture 50
POET also announced today that the Company has been named to the 2019 TSX Venture 50 list, a ranking of the top performers on the TSX Venture Exchange over the past year. The TSX Venture 50 ranking is comprised of ten companies from each of the five industry sectors represented on the TSX Venture Exchange. Companies are selected based on three equally weighted criteria: market capitalization growth, share price appreciation and trading volume.

POET’s Executive Vice President and Chief Financial Officer, Thomas Mika, commented, “We are gratified to be recognized as one of the top technology companies on the TSX Venture Exchange for 2019. Last year was a transformational year for the Company, highlighted by our first orders for our POET Optical Interposer-based solutions from leading global communications companies targeting data communications applications. Additionally, we recently received an offer to purchase our DenseLight subsidiary as part of our plan to pursue a fab-light strategy with a less capital-intensive business model. In fact, today’s announced collaboration agreement with MillView for combining design capabilities also furthers these efforts by leveraging key strategic partnerships to establish POET as a world-class organization with leading optical products. We look forward to building on our growing momentum in 2019 as we realize the substantial commercial potential for POET’s technology.”

A short video profile on POET Technologies will be posted and available at www.tsxventure50.com
.
Change to Board of Directors
In addition, the Company also announced that John O’Donnell has resigned from POET’s Board of Directors effective December 31, 2018 as part of his recent retirement from professional law practice. O’Donnell had served as the Company’s Chief Legal Counsel, Corporate Secretary and Director since 2012. The Company and the Board sincerely thank O’Donnell for his dedicated service and contribution to POET Technologies over the past seven years.

About MillView Photonics
MillView Photonics, Inc., designs, simulates, fabricates and tests Photonic Integrated Circuits. MillView’s expertise extends to concept, design and simulations of several materials and device platforms, including Indium Phosphide, Silicon-on-Insulator, Silicon, Silica-on-Silicon, and Lithium Niobate, encompassing monolithic, hybrid and modular architectures, and implemented in various photonic components and devices, including integration on a chip. MillView’s expertise further extends to characterization, testing and packaging, as well as fabrication (in customer or affiliate facilities). MillView has technology for license in the areas of LC-DFB Lasers, Edge Emitting DBR Lasers, Fabry-Perot Lasers, SOA (E-band, Hybrid iii-V/silicon), Grating Couplers and SOA/Laser Couplers, and EML Lasers. MillView’s main office is in Ottawa, with contacts in P.R. China and India. Contact: info@millviewphotonics.com

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

Shareholder Contact:
Shelton Group
Brett L. Perry
sheltonir@sheltongroup.com

Company Contact:
Thomas R. Mika, EVP & CFO
tm@poet-technologies.com
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POET Technologies Announces Bridge Financing Transactions
NOT FOR DISSEMINATION TO U.S. NEWSWIRES OR DISCLOSURE IN THE UNITED STATES

TORONTO, April 01, 2019 (GLOBE NEWSWIRE) -- POET Technologies Inc. (“POET” or the “Company”) is pleased to announce that it has successfully arranged over C$10 million of financing, representing the minimum amount of funds needed to bridge the Company to the previously announced anticipated sale of its DenseLight subsidiary. That sale is scheduled to be completed in September 2019, subject to certain conditions including shareholder and other approvals. The Company expects to generate cash proceeds of approximately C$34.2 million to C$39.5 million upon completion of the DenseLight sale.

The first component of the financing consists of the issuance of up to C$14 million principal amount of 12% convertible unsecured debentures (the “Convertible Debentures”) of the Company. The Convertible Debentures will be sold in multiple tranches over upcoming months, as needed, on a brokered private placement basis through the Company’s financial advisors, IBK Capital. Closing of the first tranche of Convertible Debentures, for gross proceeds of approximately C$1.9 million, is expected to occur on April 3, 2019, subject to final approval by the TSX Venture Exchange. Further indications of interest amounting to C$1.6 million from parties who could not participate in the first tranche are expected to be included in subsequent tranches.

Insiders of the Company are expected to subscribe for over 47% of the first tranche of Convertible Debentures, including the Company’s board of directors, senior management team and financial advisors, IBK Capital. Successive tranche closings in the coming months are each subject to approval by the TSX Venture Exchange.

The second component of the financing consists of a credit facility (the “Bridge Loan”) to be provided by Espresso Capital Ltd. The Company has signed a term sheet for the Bridge Loan that, subject to execution of definitive loan documents and the approval of the TSX Venture Exchange, will give the Company access of up to C$6.6 million (US$5.0 million). The Company expects to sign the loan documents on April 3, 2019 with the initial advance under the Bridge Loan of C$2.6 million (US$2.0 million) occurring shortly thereafter.

Thomas Mika, the Company’s Executive Vice President and Chief Financial Officer, said: “The significant investment made by management and the board clearly demonstrates our strong confidence in the long-term success of POET. Additionally, as indicated when we announced the proposed sale of DenseLight, we upheld our commitment to finance the Company without pursuing a highly dilutive equity raise. The combination of the two forms of financing, when completed should comfortably exceed our needs over the next several months, giving us maximum flexibility. The continued offering of Convertible Debentures is intended to allow our stockholders and new prospective investors to participate in the future growth of POET Technologies.”

The proceeds of the financing are expected to be used to advance the Company’s optical interposer platform and for working capital and general corporate purposes.

The Convertible Debentures will bear interest at a rate of 12.0%, payable monthly in arrears, and mature twenty-four (24) months following the date of issue. The principal amount of Convertible Debentures outstanding will be convertible, in whole or in part, at the sole discretion of the holder, into units of the Company (“Units”) at any time on or after November 1, 2019 at a price of C$0.40 per Unit. Each Unit is comprised of one common share and one common share purchase warrant (a “Warrant”). Each Warrant entitles the holder to purchase one common share of the Company at a price of C$0.50 per share at any time on or prior to forty-eight (48) months following the date of issue. Holders of Convertible Debentures will have the option to cause the Company to redeem the outstanding principal amount of such Convertible Debentures at par following the completion of the DenseLight sale. IBK Capital will be paid a broker fee of 5.0% of the gross proceeds raised from the sale of Convertible Debentures.

Funds drawn under the Bridge Loan bear an annual interest at 15% over the time that any advance is outstanding, with an additional 2.5% annualized payable when the advance is repaid (subject to adjustment in certain circumstances). The Bridge Loan matures on December 31, 2019. Following the signing which is expected to occur on April 3, 2019 and subsequent funding, the Company may request advances from time to time from Espresso Capital, subject to an advance fee payable to Espresso of 2.0% of the amount of each advance. In the event that either party terminates discussions in connection with the sale of the Company’s DenseLight subsidiary (described in the Company’s press release of February 4, 2019) all amounts outstanding will become due and payable within 60 days. The definitive documentation for the Bridge Loan will also impose customary financial and other covenants, reporting obligations, events of default and other requirements on the Company while amounts under the Bridge Loan are outstanding.

Additionally, the Company has agreed to issue to Espresso Capital, in consideration for the advancement of the Bridge Loan, 3,289,500 common share purchase warrants (the “Lender Warrants”), with each Lender Warrant entitling the holder to purchase one common share at a price of C$0.50 at any time on or prior to forty-eight (48) months following the date of issue. The issuance of the Lender Warrants is subject to approval of the TSX Venture Exchange. Advances under the Bridge Loan will be secured by a general security interest in favour of Espresso Capital over all of the assets and undertaking of the Company.

The securities to be issued pursuant to the financing (including the Convertible Debentures, Lender Warrants and any securities issued on conversion or exercise thereof (including the Warrants or common shares issued as a component of the Units, on exercise of the Warrants or on exercise of the Lender Warrants) if prior to such date) will be subject to a hold period of four months.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States.

More information may be obtained at www.poet-technologies.com

Shareholder Contact:
Shelton Group
Brett L. Perry
sheltonir@sheltongroup.com

Company Contact:
Thomas R. Mika, EVP & CFO
tm@poet-technologies.com

Read more:
www.globenewswire.com/news-release/20...
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POET Technologies Closes First Tranche of Convertible Debentures

www.globenewswire.com/news-release/20...

POET Technologies Inc. (“POET” or the “Company”) is pleased to announce that it has completed the first tranche closing of its previously announced private placement of 12.0% convertible unsecured debentures (the “Convertible Debentures”), brokered by the Company’s financial advisor IBK Capital. The Company raised approximately C$1.9 million through the first tranche closing. IBK Capital was paid a cash commission of 5.0% of the gross proceeds raised. Insiders of the Company and IBK Capital subscribed for over 47% of the first tranche of Convertible Debentures, including all of the Company’s board of directors and senior management team. Further indications of interest to date amounting to approximately C$1.6 million from investors who could not participate in the first tranche are expected to be included in subsequent tranches. The expected offering of subsequent tranches of Convertible Debentures over the next few months is intended to allow existing shareholders and new prospective investors to participate. Any subsequent tranches to be completed will be subject to the approval of the TSX Venture Exchange. For a complete description of the terms of the Convertible Debentures, refer to the Company’s press release of April 1, 2019.

The Convertible Debentures are subject to a hold period of four months expiring on August 4, 2019. The Convertible Debentures may be converted in accordance with their terms prior to the expiry of the hold period, but the common shares and warrants comprising the units issued on such conversion (as well as any common shares issued on exercise of such warrants) will be subject to the unexpired balance of the four month hold period.

Participation by the insiders in the first tranche closing of Convertible Debentures was considered a “related party transaction” pursuant to TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company was exempt from the requirements to obtain both formal valuation and minority shareholder approval in connection with such insider participation in reliance on sections 5.5(b) and 5.7(1)(a) of MI 61-101. A material change report was not filed in connection with the participation of the insiders in at least 21 days in advance of the first tranche closing of the Convertible Debentures, which the Company deemed reasonable in the circumstances so as to be able to avail itself of potential financing opportunities and complete the closing in an expeditious manner.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States.

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

Shareholder Contact:
Shelton Group
Brett L. Perry
sheltonir@sheltongroup.com

Company Contact:
Thomas R. Mika, EVP & CFO
tm@poet-technologies.com
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H.C. Wainwright Keeps Their Buy Rating on POET Technologies Inc $PTK $POETF

Christine Brown-April 5, 2019, 7:10 AM EDT

SHARE ON:

In a report released today, Kevin Dede from H.C. Wainwright maintained a Buy rating on POET Technologies Inc (POETF), with a price target of $1.50. The company’s shares closed yesterday at $0.27.

Dede noted:

“Perhaps enough to carry through the DenseLight sale? Earlier this week, POET announced a combination of two separate bridge financing constructs targeting to raise as much as $10.5-15.5M, enough, we think, to fund operations through the sale of its DenseLight fab in Singapore, that in itself could create cash proceeds in the range of C$34.2-39.5M (or $25.6-29.6M) also noted earlier this week—the DenseLight sale, while initially surprising, we think makes good sense per, Should Liberate and Transform, Enabling Design and Development Focus; Reit Buy published Feb. 4.”
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POET Technologies Closes Credit Facility with Espresso Capital

April 11th, 2019

NOT FOR DISSEMINATION TO U.S. NEWSWIRES OR DISCLOSURE IN THE UNITED STATES

Toronto, Ontario, April 11, 2019 – POET Technologies Inc. (“POET” or the “Company”) is pleased to announce that it has entered into a definitive agreement (the “Credit Facility Agreement”) with respect to the previously announced secured credit facility (the “Bridge Loan”) to be provided by Espresso Capital Ltd. The Bridge Loan will give the Company access of up to C$6.6 million (US$5.0 million). For a complete description of the terms of the Bridge Loan and Credit Facility Agreement, refer to the Company’s press release of April 1, 2019. The Credit Facility Agreement will be available on SEDAR at www.sedar.com under the Company’s profile.

The Company expects to draw the initial advance under the Bridge Loan of C$2.6 million (US$2.0 million) and issue the previously announced common share purchase warrants (the “Lender Warrants”) to Espresso Capital on or about April 15, 2019. The Lender Warrants will entitle Espresso Capital to purchase 3,289,500 common shares at a price of C$0.35 per share for a period of 12 months following the date of issue.

The securities referred to in this news release have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any applicable securities laws of any state of the United States, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons (as such term is defined in Regulation S under the U.S. Securities Act) or persons in the United States unless registered under the U.S. Securities Act and any other applicable securities laws of the United States or an exemption from such registration requirements is available. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within any jurisdiction, including the United States.

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

Shareholder Contact:
Shelton Group
Brett L. Perry
sheltonir@sheltongroup.com

Company Contact:
Thomas R. Mika, EVP & CFO
tm@poet-technologies.com
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POET Technologies featured in the Latest Edition of Semiconductor Today Magazine (page 40 & 41):
t.co/zfOWuLEjaV
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POET Technologies $PTK $POETF The next wave of innovation:
Opto-electronic solutions for sensing, data, & telecommunications markets
business.financialpost.com/business-t...
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New filings on #SEDAR for POET Technologies Inc. $PTK $POETF Form 45-106F1: Report of Exempt Distribution (Non-Investment Fund Issuer). Accredited #Investors bought for $1.460.000.
t.co/nirrcBwlhM
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