TORONTO, ONTARIO and STORRS, CONNECTICUT--(Marketwired - Aug 14, 2013) - POET Technologies Inc. (TSX VENTURE:PTK)(POETF) (the "Company"), announces the grant of additional incentive stock options under its stock option plan, to certain directors, officers, key consultants and employees of the Company, to purchase up to an aggregate of 3,280,000 common shares, representing 2.47% of the outstanding shares of the Company.
Of these options, 14.6% were granted to key employees which are the technical staff related to the POET effort, 19.8% to the Company's officers, 64.0% to the non-officer members of the Board of Directors and 1.5% to consultants. The stock options are exercisable at a price of CA$0.49 per share expiring August 13, 2018. Pursuant to the TSX Venture Exchange policies, the exercise price was fixed by the closing market price of August 12, 2013. The options will vest and be exercisable on the basis of 25% on the date of grant and 25% every six months thereafter.
There are currently 22,267,750 options outstanding and 132,636,115 shares outstanding. The options were granted subject to provisions of the Company's stock option plan which was approved by shareholders on June 21, 2013, and subject to the TSX Venture Exchange policies and the applicable securities laws.
About POET Technologies Inc.
POET Technologies is the developer of the POET platform for monolithic fabrication of integrated circuit devices containing both electronic and optical elements on a single semiconductor wafer. With head office in Toronto, Ontario, Canada, and operations in Storrs, CT, the Company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications, including infrared sensor arrays and ultra-low-power random access memory. The Company has 34 patents issued and 7 patents pending for the POET process, with potential high speed and power-efficient applications in devices such as servers, tablet computers and smartphones. POET's common shares currently trade on the TSX Venture Exchange under the symbol "PTK" and on the OTCQX under the symbol "POETF". For more information please visit our website at www.poet-technologies.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Michel Lafrance, Secretary
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.