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Opel changes its name to focus on III-V POET technology

The firm will now concentrate its efforts on gallium arsenide (GaAs) based integrated opto-electronic circuits
Opel Technologies Inc. announced at its AGM, last week that the shareholders approved the change of the company’s name to “POET Technologies Inc.,” the New By-Law No. 1, the 2013 Stock Option Plan and the election of the following nominees to the Board of Directors as was proposed in the Information Circular:

The board members are:

Mark Benadiba                                                         Peter Copetti            

Adam Chowaniec                                                    John F. O’Donnell

Samuel Peralta                                                       Leon M. Pierhal       

Geoff Taylor                                                              Chris Tsiofas

All directors received the required majority vote from shareholders.

In a subsequent board meeting that followed the AGM, the board reappointed the following executive officers for the company:

Mark Benadiba, Executive Chairman

Leon M. Pierhal, President & Chief Executive Officer

Kevin Barnes, Treasurer & Chief Financial Officer

Lee Shepherd, Vice President of Technology

Michel Lafrance, Corporate Secretary

Blaine Grisel, Controller

The shareholders also approved the re-appointment of Marcum LLP, Accountants & Advisors, of New Haven, Connecticut, as the auditors of the firm for the ensuing year.

Shareholders were presented with updates by Mark Benadiba and Leon M. Pierhal on the status of the company. Both reinforced that the core component of the company’s strategy going forward is to continue to develop the POET platform.

POET enables monolithic fabrication of integrated circuit gallium arsenide devices containing both electronic and optical elements on a single wafer.

Following the AGM, shareholders were provided the opportunity to take a tour of the ODIS facility to further reinforce the stated objective to drive monetisation efforts of the POET platform.

Shareholders in attendance were welcomed by the ODIS Team at the facility and given a showcase of the intricacy of this III-V technology.

Opel 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 a head office in Toronto, Ontario, Canada, and operations in Storrs, Connecticut, the company, through ODIS Inc., a U.S. company, designs III-V semiconductor devices for military, industrial and commercial applications.

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