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 Michal Lipson, a pioneer and thought leader in silicon
photonics as well as a highly-published researcher in physics, as
an advisor to the Company’s Board of Directors. The Company also
plans to nominate Lipson as a director at its upcoming Annual
General Meeting currently scheduled for October 6, 2022.
“We are honored to have Michal Lipson serve as
an advisor to our Board in advance of her planned director
nomination at the AGM,” said Dr. Suresh Venkatesan, Chairman and
Chief Executive of POET. “Michal is a pioneer of silicon photonics,
president-elect of the Optical society of America, MacArthur
Fellow, member of the National Academy of Science, founder of three
startups, and inventor of 45+ U.S. patents on transformative
photonic technologies. Her impressive track record and highly
regarded opinion in the field of optics and photonics will be
invaluable to POET and our Board, and we look forward to leveraging
her perspective, guidance and expertise. As mentioned in a recent
release, we will be proposing to shareholders at the upcoming AGM
an increase in the size of the Board and appointment of both Michal
and Theresa Lan Ende.”
Lipson currently serves as a Eugene Higgins
Professor of Electrical Engineering and Professor of Applied
Physics at Columbia University. Her research focus is on
Nanophotonics and includes the investigation of novel phenomena, as
well as the development of novel devices and applications. Prof.
Lipson pioneered critical building blocks in the field of Silicon
Photonics, which today is recognized as one of the most promising
directions for solving the major bottlenecks in microelectronics.
She is the inventor of over 45 issued patents and has
co-authored more than 250 scientific publications. In
recognition of her work in silicon photonics, she was elected as a
member of the National Academy of Sciences and the American Academy
of Arts and Sciences. She was also awarded the NAS Comstock Prize
in Physics, the MacArthur Fellowship, the Blavatnik Award, the
Optical Society’s R. W. Wood Prize, the IEEE Photonics Award, and
has received an honorary degree from Trinity College, University of
Dublin. In 2020, she was elected the 2021 Vice President of
The Optical Society and will serve as OSA President in 2023. Since
2014, every year, she has been named by Thomson Reuters as a top 1%
highly cited researcher in the field of Physics.
Lipson’s work has been cited in top high-impact
journals such as Nature, Nature Photonics, Nature Physics, IEEE
Photonics Technology Letters, Nanoletters, Lab on a Chip, Physical
Review Letters and IEEE Journal of Lightwave Technologies. Today
more than one thousand papers published yearly involve devices and
circuits based on Lipson’s original modulators or based on other
silicon photonics devices demonstrated by her group, including slot
waveguides.
Option GrantFor her services as
an Advisor for the period from June 20, 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 5,194 options
will made to Michal Lipson, which will vest monthly in arrears over
4 months. The options are exercisable for 10 years at a price of
CAD$6.59, being the closing price of the Company’s shares on June
20, 2022. In addition, Lipson 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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