POET Technologies Inc. announced a non-brokered private placement of up to 3,258,390 units at a price of CAD 3.069 per unit for the gross proceeds of CAD 9,999,999 on April 29, 2024. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each Warrant will entitle the holder thereof to purchase one common share of the company for a period of 60 months following the closing date of the offering at an exercise price of CAD 4.26 per warrant share. No brokers or finders were engaged in this transaction.

On the same day, the company announced that the company will issue additional 3,448,275 units at a price of CAD 2.90 per unit for the gross proceeds of CAD 9,999,997.5. Each unit will consist of one common share in the capital of the company and one common share purchase warrant. Each warrant will entitle the holder thereof to purchase one common share of the company 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. The PP offering is scheduled to close on or about May 10, 2024 and completion of the PP offering is subject to certain conditions including the receipt of all necessary approvals, including the approval of the TSX Venture Exchange. The closing of the PP Offering is not conditional upon the closing of the LIFE Offering announced earlier today.