04:14:43 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Poet Technologies Inc
Symbol PTK
Shares Issued 159,629,759
Close 2014-07-07 C$ 1.99
Market Cap C$ 317,663,220
Recent Sedar Documents

Poet to test 100 nm prototype at third party foundry

2014-07-08 10:06 ET - News Release

Mr. Michel Lafrance reports

POET TECHNOLOGIES ANNOUNCES TECHNOLOGY AND REGULATORY UPDATES

Poet Technologies Inc. is providing updates on its 100-nanometre scaling and prototype initiatives and has registered its common shares with the United States Securities and Exchange Commission.

100 nm scaling and prototype initiatives

The company's 100 nm scaling and prototype initiatives have successfully achieved a culmination point where transition to a third party foundry is now being negotiated.

The 100 nm initiative reduces the feature size of key Poet devices down to the 100 nm range. In the course of this program, the technical team developed numerous processes critical to the practical application of Poet, which will now form the basis of several new patent applications.

The prototype initiative aims to put together several key device building blocks, all with integrated optical and electronic capability, into an integrated circuit (IC) or array of ICs. Development of the two initiatives has proceeded in parallel so far, but they are technologically linked.

Peter Copetti, executive chairman and interim chief executive officer, noted: "We are extremely proud of how far our team has come. We are now at a point where the capabilities of a third party foundry are required for practical demonstration, as well as subsequent third party validation. We look forward to proceeding on this basis."

Registration statement on Form 20-F filed with U.S. SEC

The company has registered its common stock under the Securities Exchange Act of 1934. As a reporting company, the company shall file annual and other periodic reports with the SEC, which filings will be available to the public through the SEC's EDGAR on-line database. The company's common stock is already traded in Canada under the symbol PTK on the TSX Venture Exchange.

Mr. Copetti noted, "Registration with the SEC is in line with the goals of management and the company's board of directors to actively improve corporate governance standards, transparency and to provide periodic disclosure to the market."

Copies of the company's documents will now be available for review by visiting EDGAR. The company also files documents under Canadian regulatory requirements on SEDAR.

Mr. Copetti concluded, "In the last 12 months, the company's profile and visibility within the semiconductor industry has increased significantly, and the company will need to continue this transparency in its efforts reach out to a global audience of investment and strategic partners."

Ajit Manocha joins the company

As a follow-up to the company's press release of July 7, 2014, the company is pleased to confirm that it has signed a memorandum of understanding with Mr. Manocha.

As disclosed, Mr. Manocha will help in determining the strategic direction of the company, and work directly with the company's executive chairman and interim CEO in carrying out actions to support that strategic direction, specifically including: mergers and acquisitions, and related transitions; joint ventures, collaborations, partnerships and other industry relationships; assistance in capital raises; and identification and installation of a permanent CEO.

In addition to the previously announced stock options, the company agreed to a compensation package at a rate of $41,666.67 per month. The precise terms will be included in a definitive agreement to be negotiated between the parties.

Mr. Manocha commented: "Poet promises tremendous potential to the semiconductor industry as a next-generation technology. I am looking forward to being part of the Poet team and especially working directly with Mr. Copetti on building shareholder value."

© 2024 Canjex Publishing Ltd. All rights reserved.