POET Technologies Inc. announced a non-brokered private placement of up to 1,798,561 units at a price of CAD 3.81 per unit, for aggregate gross proceeds of up to approximately CAD 6,852,517.41 on November 18, 2022. Each Unit will be comprised of one common share of the corporation and one-half of one common share purchase warrant, with each warrant entitling the holder thereof to purchase one additional Common Share at a price of CAD 4.95 per Common Share for a period of three years following the closing date of the Offering. In connection with the Offering, the Corporation has entered into binding subscription agreements with certain investors representing expected subscription proceeds totaling approximately CAD 3.75 million.

The Corporation is in discussions with other potential investors and may accept further subscriptions from other investors up to a total, when combined with the existing CAD 3.75 million committed subscriptions, of approximately CAD 6.85 million. The closing of the transaction is expected to take place on or around December 2, 2022. Closing of the transaction is subject to the satisfaction or waiver of a number of customary closing conditions, including the approval of the TSX Venture Exchange ("TSXV").

The securities issued pursuant to the Offering will be subject to applicable hold periods, including the statutory four month hold period from the date of closing of the transaction. In connection with the closing, the Corporation may pay cash commissions and or finder's fees to certain finders in respect of subscriptions received from certain investors in connection with the Offering, subject to entering into customary arrangements with such finders and subject to the approval of the TSXV.