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| Home : POET Technologies Announces $5,000,000 Private Placement |
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Jan 30
2014 |
POET Technologies Announces $5,000,000 Private Placement |
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TORONTO, ONTARIO and STORRS, CONNECTICUT--(Marketwired - Jan. 30, 2014) - POET Technologies Inc. (TSX VENTURE:PTK)(OTCQX:POETF) ("POET") or (the "Company") announces a non-brokered private placement financing of approximately 7,692,308 Units at a price of C$0.65 per unit for proceeds of up to C$5,000,000. Each unit consists of one common share and one common share purchase warrant. Each warrant allows the holder to acquire one additional common share of POET for a period of 2 years at an exercise price of C$1.00 per share. The private placement was price protected at $0.50 per unit but in light of the recent run-up in the share price, the subscribers have agreed to the increased subscription price. The private placement is conditional upon acceptance by the TSX Venture Exchange. All of the securities issued pursuant to the private placement will be subject to a hold period which expires four months and one day following closing. No commission is payable with respect to this financing which is scheduled to close on February 12, 2014. |
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| Source:http://www.marketwired.com/mw/release.do?id=1874044&sourceType=3 |
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