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8 July 2014

POET announces technology and regulatory updates

POET Technologies Inc of Toronto, Canada – which, through subsidiary OPEL Defense Integrated Systems (ODIS Inc) of Storrs, CT, USA, has developed the proprietary planar-optoelectronic technology (POET) platform for monolithic fabrication of integrated III-V-based electronic and optical devices on a single semiconductor wafer – have announced several key updates on its 100nm scaling and prototype initiatives, and the registration of its common shares with the US Securities and Exchange Commission (SEC).

100nm scaling and prototype initiatives

The firm’s 100nm scaling and prototype initiatives have achieved a culmination point where transition to a third-party foundry is now being negotiated.

The 100nm initiative reduces the feature size of key POET devices down to the 100nm range. In the course of this program, the technical team developed processes critical to the practical application of POET, which will now form the basis of several new patent applications.

The prototype initiative aims to put together several key device building blocks, all with integrated optical and electronic capability, into an integrated circuit or array of ICs. Development of the two initiatives have proceeded in parallel so far, but are technologically linked.

“We are now at a point where the capabilities of a third-party foundry are required for practical demonstration, as well as subsequent third-party validation,” notes executive chairman & interim CEO Peter Copetti.

Registration statement filed with SEC

The firm has registered its common stock on Form 20-F under the Securities Exchange Act of 1934. As a reporting company, POET will file annual and other periodic reports with the SEC (available to the public through the SEC's EDGAR online database). The common stock is already traded in Canada under the symbol ‘PTK’ on the TSX Venture Exchange.

“Registration with the SEC is in line with the goals of management and the company’s board of directors to actively improve corporate governance standards, transparency, and to provide periodic disclosure to the market,” says Copetti.

Copies of the firm’s documents will now be available for review by visiting www.sec.gov. POET also files documents under Canadian regulatory requirements on SEDAR, which can be accessed via www.sedar.com.

“In the last 12 months, the company’s profile and visibility within the semiconductor industry has increased significantly, and the company will need to continue this transparency in its efforts reach out to a global audience of investment and strategic partners,” concludes Copetti.

POET signs MoU with Ajit Manocha

POET has signed a memorandum of understanding with Ajit Manocha, who has joined the firm as executive vice chairman. Manocha will help in determining the strategic direction of the firm, and work directly with executive chairman & interim CEO Copetti in carrying out actions to support that strategic direction, specifically including: mergers and acquisitions, and related transitions; joint ventures, collaborations, partnerships and other industry relationships; assistance in capital raises; and identification and installation of a permanent CEO.

In addition to the stock options announced on 7 July, the firm agreed to a compensation package at a rate of $41,666.67 per month. The precise terms will be included in a definitive agreement to be negotiated between the parties.

See related items:

POET appoints Ajit Manocha as executive vice chairman

POET provides update on 100nm initiative, process equipment upgrade, and technology design kits

Tags:  POET

Visit: www.poet-technologies.com

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