POET Technologies Inc. ("POET" or the "Company") (TSXV:PTK, NASDAQ:POET), the designer and developer of the POET Optical Interposer, Photonic Integrated Circuits (PICs) and light sources for the data center, tele-communication and AI markets, has added an additional CAD$10 million private placement (the "PP Offering") to the LIFE Offering that it announced earlier in the day.

POET is undertaking a non-brokered private placement of 3,448,275 units (the "Units") of the Company at a price of CAD$2.90 per Unit (the "Offering Price"), representing a discount of 15% from the closing price of the Company's common shares on the TSX Venture Exchange on Friday, April 26, 2024, for gross proceeds of CAD$10,000,000. The Units to be issued under the PP Offering are to be placed with two Canadian-based institutional investors.

Each Unit will consist of one common share in the capital of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share of the Company (a "Warrant Share") for a period of 60 months following the closing date of the PP Offering at an exercise price of CAD$4.26 per Warrant Share. The Common Shares forming a part of the Units, the Warrants, and the Warrant Shares are each subject to a 4-month holding period. No brokers or finders were engaged in this transaction and no fees are to be paid in connection with the issuance of the Units.

POET is currently experiencing strong demand for its proprietary optical engine technology that powers 800G and higher speed optical modules for AI processing clusters and light sources for advanced chip-to-chip light-based data communications and high-speed computing. Use of proceeds of this financing is for general working capital purposes aimed at supporting this significant growth phase for the Company.

The Units are being issued pursuant to exemptions from the prospectus requirements pursuant to Canadian securities law to investors resident in Canada.