POET Technologies Inc. announced a non-brokered private placement of 4,098,360 units at a price of CAD 1.22 for the gross proceeds of CAD 4,999,999 on December 11, 2023. Each Unit will be comprised of one common share and one common share purchase warrant. Each warrant entitling the holder thereof to purchase one common share at a price of CAD 1.52 per common share.

The company may conduct multiple closings at its discretion with the final closing of the Offering is expected to take place on or around January 15, 2024. Closing of the Offering is subject to the satisfaction or waiver of a number of customary closing conditions, including the approval of the TSX Venture Exchange. The securities issued pursuant to the offering will be subject to applicable hold periods, including the statutory four month hold period from the date of closing of the Offering.

As a part of the transaction, the company may pay cash fees to certain finders in respect of subscriptions received from certain investors in connection with the offering, subject to entering into customary arrangements with such finders and subject to the approval of the TSXV.