Home Networking company POET Technologies responds to Shenzhen lockdown

POET Technologies responds to Shenzhen lockdown


TORONTO, March 15, 2022 (GLOBE NEWSWIRE) — POET Technologies Inc. (“POET” or the “Company”) (TSX Venture: PTK; Nasdaq: POET), the designer and developer of POET Optical Interposer™ and Photonic Integrated Circuits ( PIC) for the data center and telecommunications markets, today announced that in response to the temporary lockdown resulting from an outbreak of COVID-19 in Shenzhen, critical development activities have been absorbed by Singapore and other sites.

“Over the past two years, we have implemented redundancy for critical operations in Singapore, Shenzhen and Allentown, Pennsylvania, both to accelerate development and to address COVID-19 lockdowns,” said Dr. Suresh Venkatesan, CEO of POET Technologies. “On Sunday March 13, 2022, our operation in Shenzhen, China was informed that it would be closed until at least March 20, 2022, due to an outbreak of COVID-19 in that city. We quickly commissioned Singapore and our joint venture, Super Photonics Xiamen, to continue manufacturing samples for customers. Because we have been well prepared for such an eventuality, we do not believe that this temporary lockdown will have an effect on our expected delivery schedule for customers, potential customers or business partners. »

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 enables the seamless integration of electronic and photonic devices into a single multi-chip module using advanced techniques wafer-level semiconductor fabrication and packaging methods. . POET’s optical interposer eliminates costly components and the labor-intensive assembly, alignment, run-in, and test methods used in conventional photonics. The cost-effective 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 fastest growing areas of computing, such as intelligence (AI), 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, Pennsylvania, Shenzhen, China and Singapore. More information can be obtained at www.poet-technologies.com.

Forward-looking statements

This press release contains “forward-looking information” (within the meaning of applicable Canadian securities laws) and “forward-looking statements” (within the meaning of the United States Private Securities Litigation Reform Act of 1995). These statements or information are identified by words such as “anticipate”, “believe”, “expect”, “plan”, “intend”, “potential”, “estimate”, “propose”, ” project”, “outlook”, “anticipate” or similar words suggesting future results or statements regarding any potential results. The information in this release regarding expectations regarding Nasdaq listing and trading and the Company’s future plans and objectives are forward-looking information and statements. Other forward-looking information and statements include, but are not limited to, the Company’s expectations regarding the success of the Company’s product development efforts, the performance of its products, the expected results of its operations, the achievement revenue goals and expectations of continued success in funding efforts, capacity, functionality, performance and cost of the Company’s technology as well as market acceptance, inclusion and timing of the Company technology in current and future products.

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 of completion of its development efforts, its ability to successfully demonstrate its products on time, financing activities, future growth, the recruitment of personnel, the opening of offices, the form and potential of its joint venture, the plans and completion of projects by the Company’s consultants, contractors and third-party partners, the availability of capital, the need to engage capital and other expenditures and the effects of COVID-19 related lockdowns. Actual results could differ materially due to a number of factors, including, but not limited to, failure of its products to meet performance requirements, lack of product demonstrations, operational risks related upon the completion of the Company’s planned projects, a delay or abandonment of its planned joint venture, delays resulting from COVID-19 closures, delays in recruiting for its newly opened operations or changes in plans regarding the development of Company’s planned projects by third parties, risks affecting the Company’s ability to execute projects, the Company’s ability to generate sales for its products, the ability to attract key personnel and the ability to raise capital additional. Although the Company believes that the expectations reflected in any forward-looking information or statements are reasonable, prospective investors in the Company’s securities should not place undue reliance on any forward-looking information or statements, as the Company cannot guarantee that such expectations will prove to be true. be correct. The forward-looking information and statements contained in this press release speak as of the date of this press release, and the Company undertakes no obligation to update or revise such forward-looking information and statements, except as required by law. For more information regarding these and other risks and uncertainties, please see the Company’s filings at www.SEDAR.com.

Trading in the Company’s securities should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained herein. Neither the 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 1E2- Tel. : 416-368-9411 – Fax: 416-322-5075