POET Technologies Grants Stock Options
November 15th, 2013
Toronto, ON, and Storrs, CT, November 15, 2013 – POET Technologies Inc. (TSX-V: PTK, OTC: POETF) (“the Company”) – developer of the proprietary planar-optoelectronic technology (“POET”) platform for monolithic fabrication of integrated electronic and optical devices on a single semiconductor wafer – announces the grant of additional incentive stock options under its stock option plan, to certain officers and employees of the Company, to purchase up to an aggregate of 1,480,000 common shares, representing 1.12% of the outstanding shares of the Company.
Of these options, 42.6% were granted to key employees which are the technical staff related to the POET effort and 57.4% to the Company’s officers. No options were granted to the Directors of the Company. The stock options are exercisable at a price of CA$0.44 per share expiring November 14, 2018. Pursuant to the TSX Venture Exchange policies, the exercise price was fixed by the closing market price of November 13, 2013. The options will vest and be exercisable on the basis of 25% on the date of grant and 25% every six months thereafter.
There are currently 23,832,750 options outstanding and 132,676,115 shares outstanding. The options were granted subject to provisions of the Company’s stock option plan which was approved by shareholders on June 21, 2013, and are subject to the TSX Venture Exchange policies and the applicable securities laws.
About POET Technologies Inc.
POET Technologies 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 30 patents issued and 9 patents pending for the POET process, with potential high speed and power-efficient applications in devices such as servers, tablet computers and smartphones. The Company’s common shares trade on the TSX Venture Exchange under the symbol “PTK” and on the OTCQX under the symbol “POETF”. For more information please visit our websites at www.poet-technologies.com.
Dated: November 15, 2013
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
For further information:
Christopher Chu, Grayling
Tel: (646) 284-9426
Email: [email protected]
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