Mr. Kevin Barnes reports
POET TECHNOLOGIES ANNOUNCES AMENDMENT OF WARRANT TERMS
Poet Technologies Inc. has completed the amendment to the terms of 1,764,720 common share purchase warrants of the corporation that were issued pursuant to a private placement that closed on Feb. 11, 2021.
As a result of the amendments, the warrants are now exercisable to acquire one common share of the corporation at an exercise price of $4.25 per common share until 5 p.m. Toronto time on May 11, 2023. In accordance with the policies of the TSX Venture Exchange, the expiry date of the warrants may be accelerated to 30 calendar days if, for any 10 consecutive trading days during the unexpired term of the warrants, the closing price of the common shares on the exchange is equal to or greater than $4.89 per common share. All other terms and conditions of the warrants remain the same.
A video interview with Kevin Barnes, Poet's vice-president of finance and administration, explaining the details of the warrant amendments and the use of warrants in general, is available on-line.
About Poet Technologies Inc.
Poet Technologies is a design and development company offering integration solutions based on the Poet Optical Interposer, a novel platform that allows the seamless integration of electronic and photonic devices into a single multichip module using advanced wafer-level semiconductor manufacturing techniques and packaging methods. Poet's Optical Interposer eliminates costly components and labour-intensive assembly, alignment, burn-in and testing methods employed in conventional photonics. The cost-efficient integration scheme and scalability of the Poet Optical Interposer brings value to any device or system that integrates electronics and photonics, including some of the highest growth areas of computing, such as artificial intelligence (AI), the Internet of Things (IoT), autonomous vehicles, and high-speed networking for cloud service providers and data centres.
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