POET Technologies Appoints Theresa Lan Ende as Board Advisor; To be Nominated as Director at October Annual Meeting
07 Juni 2022 - 02:00PM
POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK;
NASDAQ: POET), the designer and developer of the POET Optical
Interposer™ and Photonic Integrated Circuits (PICs) for the data
center and tele-communication markets, today announced that it has
appointed Theresa Lan Ende, currently Chief Procurement Director of
Arista Networks, as an advisor to the Company’s Board of Directors.
The Company also announced that it intends to nominate Theresa Lan
Ende as a director at its Annual General Meeting currently
scheduled for October 6, 2022.
“We are thrilled that Theresa Lan Ende has
agreed to become an advisor to our Board prior to her nomination at
the AGM,” said Dr. Suresh Venkatesan, Chairman and Chief Executive
of POET. “As part of that upcoming meeting, we will be proposing to
shareholders an increase in the size of the Board and appointment
of Theresa. She brings to our Board a wealth of knowledge and
experience in global supply chain management, operations and
planning gained from several leading companies in our industry,
including Arista Networks, JDS Uniphase, Force10 Networks, Cisco
Systems and ROLM Telecommunications. She has a unique and valuable
perspective on present-day supply chain matters and is expected to
be an insightful voice on the Board as the Company grows in size
and stature.”
Before her appointment as Chief Procurement
Director of Arista Networks in 2019, Theresa Lan Ende served for 10
years as its Senior Director of Global Supply Chain Management.
Prior to Arista, she held senior positions at JDSU Optical Division
and Force10 Networks. At Cisco Systems and ROLM Telecommunications,
Ms. Ende held various program management and planning management
positions over a 20-year period. In 2019, she was honored as one of
the “Top 100 Women of Influence” by Silicon Valley Business
Journal.
Option Grant
For her services as an Advisor for the period
from June 1, 2022, through the date of the next Annual General
Meeting, the Board of Directors has approved a combination of
option grants and cash payment equivalent to the compensation of
other members of the Board who hold no Committee chair positions.
Specifically, a grant of 4,745 options will made to Theresa Lan
Ende which will vest monthly in arrears over 4 months. The options
are exercisable for 10 years at a price of CAD$7.16, being the
closing price of the Company’s shares on May 31, 2022. In addition,
Ms. Ende will receive a cash payment of US$7,500. The options were
granted subject to provisions of the Company’s 2021 Stock Option
Plan and are subject to the TSX Venture Exchange policies and
applicable securities laws. For further details on the Company’s
share capital, refer to the Company’s Financial Statements and
MD&A for the three-months ended March 31, 2022, which may be
found on SEDAR and EDGAR.
About POET Technologies
Inc.POET Technologies is a design and development company
offering integration solutions based on the POET Optical
Interposer™ a novel platform that allows the seamless integration
of electronic and photonic devices into a single multi-chip module
using advanced wafer-level semiconductor manufacturing techniques
and packaging methods. POET’s Optical Interposer eliminates costly
components and labor-intensive assembly, alignment, burn-in and
testing methods employed in conventional photonics. The
cost-efficient integration scheme and scalability of the POET
Optical Interposer brings value to any device or system that
integrates electronics and photonics, including some of the highest
growth areas of computing, such as Artificial Intelligence (AI),
the Internet of Things (IoT), autonomous vehicles and high-speed
networking for cloud service providers and data centers. POET is
headquartered in Toronto, with operations in Allentown, PA,
Shenzhen, China and Singapore. More information may be obtained at
www.poet-technologies.com.
Shareholder Contact:Shelton GroupBrett L.
Perrysheltonir@sheltongroup.com |
Company Contact:Thomas R. Mika, EVP &
CFOtm@poet-technologies.com |
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 any
potential outcome. Such statements include the Company’s
expectations with respect to the success of the Company’s product
development efforts, the performance of its products, the expected
results of its operations, meeting revenue targets, and the
expectation of continued success in the financing efforts, the
capability, functionality, performance and cost of the Company’s
technology as well as the market acceptance, inclusion and timing
of the Company’s technology in current and future products and
expectations for approval of proposals at the Company’s annual
meeting of shareholders.
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 the success and timing for
completion of its development efforts, financing activities, future
growth, recruitment of personnel, opening of offices, the form and
potential of its joint venture, plans for and completion of
projects by the Company’s third-party consultants, contractors and
partners, 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, the failure of its products to meet performance
requirements, lack of sales in its products, once released,
operational risks in the completion of the Company’s anticipated
projects, lack of performance of its joint venture, delays in
recruitment for its newly opened operations or changes in plans
with respect to the development of the Company’s anticipated
projects by third-parties, risks affecting the Company’s ability to
execute projects, the ability of the Company to generate sales for
its products, the ability to attract key personnel, the ability to
raise additional capital and the agreement by shareholders to
approve proposals put forth by the Company at shareholders’
meetings. 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.
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.
120 Eglinton Avenue, East, Suite 1107, Toronto, ON, M4P
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