POET Technologies announces the resignation of Peter Copetti as Executive Co-Chairman
May 02 2016 - 8:30AM
POET Technologies Inc. (the “Company” or “POET”) (OTCQX:POETF)
(TSX-V:PTK), a developer of opto-electronics fabrication processes
for the semiconductor industry today announced that effective April
30, 2016, Peter Copetti, current Executive Co-Chairman of the
Board, will be stepping down from the Board and his position as
Executive Co-Chairman to pursue other opportunities. Peter
Copetti joined POET at the genesis of today’s refocused
enterprise. He has served as both Executive Co-Chairman
and interim Chief Executive Officer (CEO). Peter has worked
tirelessly to establish POET as a presence in the burgeoning
integrated opto-electronics industry and has been instrumental in
the financial restructuring of the company.
“Peter has been a great partner and colleague
throughout this incredible journey at POET. He inspired me to
join this team and his contributions and dedication to the
restructuring of the company has lead us to our current state with
a strong team, healthy balance sheet and well defined strategic
roadmap. His leadership, through our recently announced
acquisition, has been commendable," said Ajit Manocha, Exec.
Co-Chairman. "On behalf of the entire board, I wish
Peter all the best in this next phase of his professional and
personal life."
“I would like to express our most sincere thanks
to Peter for his vision and his determination that has helped put
POET on the map in the field of integrated opto-electronics”, said
Dr. Suresh Venkatesan, POET’s Chief Executive Officer.
“Peter’s mix of passion and business intelligence has helped
establish a solid foundation for this company, as we now focus on
our ‘lab to fab to monetization’ path. His leadership over
the past four years has had a tremendous impact on this company in
terms of its vision, mission and financial turnaround. Peter
leaves behind a great team at POET and he has personally been a
great mentor to me”.
“I am extremely pleased at what we have been
able to accomplish together these past four years. I have often
heard that the mark of a good leader is in establishing a solid
team. I feel that I have accomplished that goal. Ajit, Suresh
and their team will lead this company to new heights and I
look forward to continued successes from this team as they focus on
product development and achieving revenue. I have complete
belief in the management team, the Poet Technology and the
DenseLight acquisition and I expect huge things from POET”, noted
Peter Copetti, Executive Co-Chairman.
We wish Peter the best and all the success in
his future endeavors.
About POET Technologies
Inc.
POET (Planar Opto-Electronic Technology) is a
developer of opto-electronics and Photonic fabrication processes
and products. Photonics integration is fundamental to increasing
functional scaling and lowering the cost of current Photonic
solutions. POET believes that its advanced opto-electronics
process platform enables substantial improvements in energy
efficiency, component cost and size in the production of smart
optical components, the engines driving applications ranging from
data centers to consumer products to military applications. Silicon
Valley-based POET’s patented module-on-a-chip process, which
integrates digital, high-speed analog and optical devices on the
same chip, is designed to serve as an industry standard for smart
optical components. More information may be obtained at
www.poet-technologies.com.
ON BEHALF OF THE BOARD OF DIRECTORS
(signed) “John F. O’Donnell”,
Secretary
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 an outlook. Such
statements include the expectations for the future success of the
Company and its achievements.
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 future growth, plans for and
completion of projects by the Company's third party relationships,
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, operational risks
in the completion of the Company's anticipated projects, delays or
changes in plans with respect to the development of the Company's
anticipated projects by the Company's third party relationships,
risks affecting the Company's ability to execute projects, the
ability to attract key personnel, and the inability to raise
additional capital. 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
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416-322-5075
For further information:
Robert Ferri
Robert Ferri Partners
Tel: (415) 575-1589
Email: Robert.ferri@robertferri.com
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