SAN JOSE, Calif., June 23, 2016 (GLOBE NEWSWIRE) -- POET Technologies Inc. (the “Company” or “POET”)
(OTCQX:POETF) (TSX Venture:PTK), a developer of opto-electronics fabrication processes for the semiconductor industry, today
announced the completion of its previously announced acquisition of all of the shares of BB Photonics Inc. (“BB Photonics”), a
private designer of integrated photonic solutions for the data communications market. POET completes the transaction owning 100% of
BB Photonics and its assets, including intellectual property and technologies. BB Photonics had no liabilities at Closing.
BB Photonics, a pre-revenue, New Jersey-based privately held company develops photonic integrated components for
the datacenter market utilizing embedded dielectric technology that is intended to enable on-chip athermal wavelength control and
lower the total solution cost of datacenter photonic integrated circuits. This strategic acquisition is designed to provide POET
with additional differentiated intellectual property and know-how for product development, enable POET to better service its first
identified commercialization market - the end-to-end data communications market - and augment its sensing roadmap.
"The addition of BB Photonics significantly enhances our integrated photonic solution set and advances our
commercialization initiative,” said Dr. Suresh Venkatesan, POET’s Chief Executive Officer. “By internal development and
acquisition, we are accelerating our drive from technology leadership to market entry in differentiated photonics.”
The POET platform and process technology continue to be the focal point of the Company’s commercialization
strategy. To this end, the POET team continues to make progress toward its previously announced goal of demonstrating an
integrated product prototype by the end of 2016 using the POET platform. POET’s recent acquisitions and organic development
are meant to serve as a logical continuum of the roadmap by enabling immediate market entrance into its first identified
commercialization market - data communications. The acquisitions also allow the Company to engage prospective customers with an
extensive suite of integrated photonics products, thereby enabling multiple differentiated product sales and enhancing potential
revenue.
POET acquired 100% of the shares of BB Photonics in consideration of the issuance of 1,996,090 common shares
from POET’s treasury for a total deemed purchase price of US $1,550,000 in this stock only transaction, based on a price of the US
equivalent of $1.00 per share.
About POET Technologies Inc.
POET (Planar Opto-Electronic Technology) is a developer of opto-electronics and photonic fabrication processes
and products. Photonics integration is fundamental to increasing functional scaling and lowering the cost of current photonic
solutions. POET believes that its advanced opto-electronics process platform enables substantial improvements in energy
efficiency, component cost and size in the production of smart optical components, the engines driving applications ranging from
data centers to consumer products to military applications. Silicon Valley-based POET’s patented module-on-a-chip process, which
integrates digital, high-speed analog and optical devices on the same chip, is designed to serve as an industry standard for smart
optical components. More information may be obtained at www.poet-technologies.com.
ON BEHALF OF THE BOARD OF DIRECTORS
(signed) “John F. O’Donnell”, Secretary
For further information:
Robert Ferri
Robert Ferri Partners
Tel: (415) 575-1589
Email: Robert.ferri@robertferri.com
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in
the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
This news release contains “forward-looking information” (within the meaning of applicable Canadian securities
laws) and “forward-looking statements” (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995). Such
statements or information are identified with words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”,
“estimate”, “propose”, “project”, “outlook”, “foresee” or similar words suggesting future outcomes or statements regarding an
outlook. Such statements include the Company’s intention with respect to market entrance into its first identified
commercialization market - data communications - by allowing the Company to engage prospective customers with an extensive suite of
integrated photonics products, thereby enhancing potential revenue, by allowing multiple differentiated product sales. They
also include the statement that POET team continues to make progress towards an integrated product prototype, using the POET
platform, by the end of 2016 as well as the Company’s expectations with respect to the capability, functionality, performance and
cost of the Company’s technology.
Such forward-looking information or statements are based on a number of risks, uncertainties and assumptions
which may cause actual results or other expectations to differ materially from those anticipated and which may prove to be
incorrect. Assumptions have been made regarding, among other things, management’s expectations regarding future growth, plans for
and completion of projects by the Company’s third party relationships, availability of capital, and the necessity to incur capital
and other expenditures. Actual results could differ materially due to a number of factors, including, without limitation,
operational risks in the completion of the Company’s anticipated projects, delays or changes in plans with respect to the
development of the Company’s anticipated projects by the Company’s third party relationships, risks affecting the Company’s ability
to execute projects, the ability to attract key personnel, and the inability to raise additional capital. Although the Company
believes that the expectations reflected in the forward-looking information or statements are reasonable, prospective investors in
the Company’s securities should not place undue reliance on forward-looking statements because the Company can provide no assurance
that such expectations will prove to be correct. Forward- looking information and statements contained in this news release are as
of the date of this news release and the Company assumes no obligation to update or revise this forward-looking information and
statements except as required by law.
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