# EDGAR Filing Document

**Accession Number:** 0001437424
**File Stem:** 0001493152-26-003188
**Filing Date:** 2026-1
**Character Count:** 193372
**Document Hash:** b758076847fc05bcfeef471d6e6c0da9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-003188.hdr.sgml**: 20260122

**ACCESSION NUMBER**: 0001493152-26-003188

**CONFORMED SUBMISSION TYPE**: F-3ASR

**PUBLIC DOCUMENT COUNT**: 22

**FILED AS OF DATE**: 20260122

**DATE AS OF CHANGE**: 20260122

**EFFECTIVENESS DATE**: 20260122

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** POET TECHNOLOGIES INC.
- **CENTRAL INDEX KEY:** 0001437424
- **STANDARD INDUSTRIAL CLASSIFICATION:** SEMICONDUCTORS & RELATED DEVICES [3674]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A6

**FILING VALUES:**
- **FORM TYPE:** F-3ASR
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-292868
- **FILM NUMBER:** 26549733

**BUSINESS ADDRESS:**
- **STREET 1:** 120 EGLINTON AVENUE EAST
- **STREET 2:** SUITE 1107
- **CITY:** TORONTO, ONTARIO
- **STATE:** A6
- **ZIP:** M4P 1E2
- **BUSINESS PHONE:** 401-338-1212

**MAIL ADDRESS:**
- **STREET 1:** 120 EGLINTON AVENUE EAST
- **STREET 2:** SUITE 1107
- **CITY:** TORONTO, ONTARIO
- **STATE:** A6
- **ZIP:** M4P 1E2

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** OPEL INTERNATIONAL INC
- **DATE OF NAME CHANGE:** 20080611

**As filed with the Securities and Exchange Commission on January 22, 2026**

**Registration No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM F-3**

**REGISTRATION STATEMENT**

**UNDER**

**THE SECURITIES ACT OF 1933**

**POET TECHNOLOGIES INC.**

(Exact name of registrant as specified in its charter)

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| | |
|:---|:---|
| **Province of Ontario, Canada** | **N/A** |
| (State or other jurisdiction of<br> incorporation or organization) | (I.R.S. Employer<br> Identification Number) |

---

**120 Eglinton Avenue East, Ste. 1107**

**Toronto, Ontario**

**M4P 1E2, Canada (416) 368-9411**

(Address, including zip code, and telephone number, including area code, of registrant's principal executive offices)

**CT Corporation System**

**28 Liberty Street**

**New York, New York 10005-1400**

**(212) 894-8940**

(Name, address, including zip code, and telephone number, including area code, of agent for service)

***Copies to:***

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| | |
|:---|:---|
| **Mark D. Wood**<br> **Alyse Sagalchik**<br> **Katten Muchin Rosenman LLP**<br> **525 W. Monroe Street**<br> **Chicago, IL 60661-3693**<br> **(312) 902-5200** | **James Clare**<br> **Christopher Doucet**<br> **Bennett Jones LLP**<br> **3400 One First Canadian Place**<br> **P.O. Box 130**<br> **Toronto, Ontario M5X 1A4, Canada**<br> **(416) 777-6245** |

---

**Approximate date of commencement of proposed sale to the public**: From time to time after the effective date of this registration statement.

If only securities being registered on this Form are being offered pursuant to dividend or interest reinvestment plans, please check the following box. ☐

If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933, check the following box. ☒

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐

If this Form is a registration statement pursuant to General Instruction I.C. or a post-effective amendment thereto that shall become effective upon filing with the Commission pursuant to Rule 462(e) under the Securities Act, check the following box. ☒

If this Form is a post-effective amendment to a registration statement filed pursuant to General Instruction I.C. filed to register additional securities or additional classes of securities pursuant to Rule 413(b) under the Securities Act, check the following box. ☐

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933. ☐

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards† provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐

The term "new or revised financial accounting standard" refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

**PROSPECTUS**

![](form3asr_001.jpg)

**POET TECHNOLOGIES INC.**

Common Shares

Debt Securities

Convertible Securities

Warrants

Subscription Receipts

Rights

Units

POET Technologies Inc. may offer and sell, from time to time, in one or more offerings, the securities described in this prospectus. We may also offer securities of the types listed above that are convertible or exchangeable into one or more of the securities so listed.

In addition, one or more of our securityholders may also offer and sell securities under this prospectus (the "Selling Securityholders" and each a "Selling Securityholder"). See "*Secondary Offerings by Selling Securityholders*."

These securities may be offered or sold to or through one or more underwriters, dealers or agents, or directly to purchasers, on a continued or delayed basis. We will provide the names of any such agents and underwriters used in connection with the sale of any of these securities, as well as any fees, commissions or discounts we may pay to such agents and/or underwriters in connection with the sale of these securities, in the applicable prospectus supplement.

This prospectus describes the general terms of these securities and the general manner in which we will offer them. Each time we offer and sell securities, we will provide the specific terms of those securities, and the manner in which they are being offered, in one or more prospectus supplements to this prospectus. The prospectus supplement may also add, update or change information contained in this prospectus with respect to that offering. You should read this prospectus, any post-effective amendment and the applicable prospectus supplement, as well as any documents we have incorporated into this prospectus by reference, carefully before you invest in any of our securities. Where required by statute, regulation or policy, and where securities are offered in currencies other than U.S. dollars, appropriate disclosure of foreign exchange rates applicable to the securities will be included in the prospectus supplement describing the securities. This prospectus does not qualify in any of the provinces or territories of Canada the distribution of the securities to which it relates.

The head and registered office of POET Technologies Inc. is located at Suite 1107, 120 Eglinton Avenue East, Toronto, Ontario, M4P 1E2, and our telephone number is (416) 368-9411.

Our common shares are listed and posted for trading on the Nasdaq Capital Market ("Nasdaq") under the symbol "POET." On January 21, 2026, the last trading day immediately prior to the filing of this prospectus, the closing price of our common shares on Nasdaq was US$8.37 per common share. There is currently no market through which the securities, other than the common shares, may be sold and purchasers may not be able to resell the securities purchased under this prospectus. This may affect the pricing of the securities in the secondary market, the transparency and availability of trading prices, the liquidity of the securities and the extent of issuer regulation. The applicable prospectus supplement will contain information, where applicable, as to any other listing, if any, of the securities covered by the prospectus supplement on Nasdaq or any other securities market or other securities exchange.

We may amend or supplement this prospectus from time to time by filing amendments or supplements as required. You should read the entire prospectus, including the additional information described under the heading "Incorporation of Certain Information by Reference," and any amendments or supplements carefully before you make your investment decision.

**Investing in our securities involves a high degree of risk. Before buying our securities, you should consider carefully the risks described under the caption "Risk Factors" beginning on page 6 of this prospectus and in the documents incorporated by reference in this prospectus and refer to the risk factors that may be included in a prospectus supplement and in our reports and other information that we file with the U.S. Securities and Exchange Commission (the "SEC").**

**Neither the SEC nor any state or Canadian securities commission or regulator has approved or disapproved of these securities or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.**

This prospectus is dated January 22, 2026.

**<u>**Table of Contents**</u>**

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| | |
|:---|:---|
|  | **Page** |
| [About This Prospectus](#a_001) | 1 |
| [Where You Can Find More Information](#a_002) | 2 |
| [Incorporation of Certain Information by Reference](#a_003) | 3 |
| [Forward-Looking Statements](#a_004) | 4 |
| [About The Company](#a_005) | 5 |
| [Risk Factors](#a_006) | 6 |
| [Offer Statistics and Expected Timetable](#a_007) | 7 |
| [Material Changes](#a_008) | 8 |
| [Reasons for the Offer and Use of Proceeds](#a_009) | 9 |
| [Description of Share Capital and Memorandum and Articles of Association](#a_010) | 10 |
| [Description of the Securities](#ft_001) | 25 |
| [Description of Common Shares](#ft_002) | 26 |
| [Description of Debt Securities](#ft_003) | 27 |
| [Description of Warrants](#ft_006) | 29 |
| [Description of Subscription Receipts](#ft_004) | 30 |
| [Description of Rights](#ft_005) | 31 |
| [Description of Units](#ft_007) | 32 |
| [Plan of Distribution](#sk_017) | 33 |
| [Secondary Offerings by Selling Securityholders](#sk_018) | 35 |
| [Expense of the Issuance and Distribution](#sk_019) | 36 |
| [Certain Income Tax Considerations](#sk_020) | 37 |
| [Enforceability of Civil Liabilities](#sk_021) | 38 |
| [Legal Matters](#sk_022) | 39 |
| [Experts](#sk_023) | 40 |

---

i

**About This Prospectus**

This prospectus is part of an automatic shelf registration statement that we filed with the U.S. Securities and Exchange Commission (the "SEC"), as a "well-known seasoned issuer" as defined in Rule 405 under the Securities Act of 1933, as amended (the "Securities Act"), using a "shelf" registration process. Under this shelf registration process, we may sell any combination of the securities described in this prospectus in one or more offerings.

This prospectus provides you with a general description of the securities we may offer. Each time we sell securities, we will provide a prospectus supplement that will contain specific information about the terms of that offering. We may also authorize one or more free writing prospectuses to be provided to you that may contain material information relating to any such offering. Such prospectus supplement or free writing prospectus may also add, update or change information contained in this prospectus. If there is any inconsistency between the information in this prospectus and the applicable prospectus supplement or free writing prospectus, if any, you should rely on the information in the prospectus supplement or free writing prospectus, as applicable. You should read the information in this prospectus and the applicable prospectus supplement (and any free writing prospectuses) together with the additional information incorporated by reference herein as provided for under the heading "Incorporation of Certain Information by Reference."

**Owning securities may subject you to tax consequences in the U.S. and/or Canada. This prospectus or any applicable prospectus supplement may not describe these tax consequences fully. You should read the tax discussion in any prospectus supplement with respect to a particular offering and consult your own tax advisor with respect to your own particular circumstances.**

You should rely only on the information contained in or incorporated by reference into this prospectus or in any prospectus supplement or related free writing prospectus prepared by or on behalf of us or to which we have referred you. We have not authorized anyone to provide you with information in addition to or different from that contained in this prospectus or any applicable prospectus supplement. We are not making an offer to sell or soliciting an offer to buy these securities in any jurisdiction in which the offer or solicitation is not authorized or in which the person making the offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make the offer or solicitation. You should assume that the information contained in this prospectus and in any applicable prospectus supplement or free writing prospectus is accurate only as of the date on the front cover of this prospectus or the applicable prospectus supplement or free writing prospectus, as applicable, and the information incorporated by reference into this prospectus or any prospectus supplement is accurate only as of the date of the document incorporated by reference.

Any of the securities described in this prospectus and in a prospectus supplement may be convertible or exchangeable into other securities that are described in this prospectus or will be described in a prospectus supplement and may be issued separately, together or as part of a unit consisting of two or more securities, which may or may not be separate from one another. These securities may include new or hybrid securities developed in the future that combine features of any of the securities described in this prospectus.

The registration statement that contains this prospectus, including the exhibits to the registration statement, contains additional information about us and the securities offered under this prospectus. You can find the registration statement at the SEC's website under the heading "Where You Can Find More Information."

Financial statements included or incorporated by reference herein have been prepared in accordance with International Financial Reporting Standards as issued by the International Accounting Standards Board, which we refer to as IFRS, and may be subject to foreign auditing and auditor independence standards, and thus may not be comparable to financial statements of United States companies.

Unless the context otherwise indicates, the terms "us," "we," "our," "POET" and the "Company" refer to POET Technologies Inc. and our subsidiaries.

All trademarks, trade names and service marks appearing in this prospectus or in any prospectus supplement (or any free writing prospectus), including the documents incorporated by reference herein or therein, are the property of their respective owners. Use or display by us of other parties' trademarks, trade dress or products is not intended to and does not imply a relationship with, or endorsement or sponsorship of, us by the trademark or trade dress owner. Solely for convenience, trademarks and tradenames referred to in this prospectus and any prospectus supplement (and any free writing prospectuses) appear without the® and™ symbols, but those references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or that the applicable owner will not assert its rights, to these trademarks and trade names.

Unless stated otherwise or as the context otherwise requires, all references to dollar amounts in this prospectus and any prospectus supplement (or any free writing prospectuses) are references to U.S. dollars. References to "$," "US$" or "USD$" are to U.S. dollars and references to "CA$" are to Canadian dollars.

**Where You Can Find More Information**

Copies of the documents incorporated herein by reference may be obtained on request, without charge, from the Corporate Secretary of POET at Suite 1107, 120 Eglinton Avenue East, Toronto, Ontario, M4P 1E2, telephone: (416) 368-9411. Those documents are also available electronically through the SEC's Electronic Data Gathering, Analysis, and Retrieval ("EDGAR") system at www.sec.gov/EDGAR. The Company's filings on EDGAR, including the documents filed as exhibits thereto, are not incorporated by reference in this prospectus except as specifically set out herein.

In addition to being subject to certain of the information requirements of the Securities Exchange Act of 1934, as amended ("Exchange Act"), and, in accordance therewith, filing reports and other information with the SEC on EDGAR, the Company has continuous disclosure obligations under the securities laws of the provinces and territories of Canada. Those documents are available electronically through the Canadian System for Electronic Data Analysis and Retrieval + ("SEDAR+") at www.sedarplus.ca. Under the multijurisdictional disclosure system adopted by the U.S. and Canada, which the Company elects to take advantage of in certain cases, the Company's reports and other information filed with the SEC may be prepared in accordance with the disclosure requirements of Canada, which requirements are different from those of the U.S. In addition, as a "foreign private issuer," we are exempt from certain rules under the Exchange Act prescribing the furnishing and content of proxy statements, and our officers, directors and principal shareholders are exempt from the reporting and short-swing profit recovery provisions contained in Section 16 of the Exchange Act, except that, beginning on March 18, 2026, our officers and directors will become subject to the reporting requirements contained in Section 16(a) of the Exchange Act. In addition, we are not required to publish financial statements as promptly as U.S. companies in certain instances or follow certain other rules and regulations applicable to U.S. public companies. See "Risk Factors."

This prospectus is a part of a registration statement on Form F-3 filed with the SEC under the Securities Act of 1933, as amended (the "Securities Act"), with respect to the securities. This prospectus, including the documents incorporated by reference herein, which forms a part of the registration statement, does not contain all of the information set forth in the registration statement, certain parts of which are contained in the exhibits to the registration statement as permitted by the rules and regulations of the SEC. For further information with respect to the Company and the securities, reference is made to the registration statement and the exhibits thereto. Statements contained in this prospectus, including the documents incorporated by reference herein, as to the contents of certain documents are not necessarily complete, and, in each instance, reference is made to the copy of the document filed as an exhibit to the registration statement. Each such statement is qualified in its entirety by such reference.

**Incorporation of Certain Information by Reference**

The SEC allows us to "incorporate by reference" information we have filed with the SEC into this prospectus. This means that we can disclose important information to you by referring to another document filed separately with the SEC. The information incorporated by reference is an important part of this prospectus, and the information we file subsequently with the SEC will automatically update and supersede the information in this prospectus. The information that we incorporate by reference in this prospectus is deemed to be a part of this prospectus. This prospectus incorporates by reference the documents listed below that we have previously filed with the SEC:

● our annual report on [Form 20-F](https://www.sec.gov/Archives/edgar/data/1437424/000164117225002143/form20-f.htm) for the year ended December 31, 2024, filed with the SEC on April 1, 2025 (the "Annual Report");

● our report on [Form 6-K](https://www.sec.gov/Archives/edgar/data/1437424/000164117225010435/form6-k.htm) , furnished to the SEC on May 15, 2025, with respect to our condensed consolidated interim financial statements for the three months ended March 31, 2025, and related Management's Discussion and Analysis of Financial Condition and Results of Operations;

● our report on [Form 6-K](https://www.sec.gov/Archives/edgar/data/1437424/000149315225011821/form6-k.htm) , furnished to the SEC on August 12, 2025, with respect to our condensed consolidated interim financial statements for the six months ended June 30, 2025, and related Management's Discussion and Analysis of Financial Condition and Results of Operations;

● our report on [Form 6-K](https://www.sec.gov/Archives/edgar/data/1437424/000149315225022442/form6-k.htm) , furnished to the SEC on November 14, 2025, with respect to our condensed consolidated interim financial statements for the nine months ended September 30, 2025, and related Management's Discussion and Analysis of Financial Condition and Results of Operations (the "Third Quarter MD&A");

● our report on Forms 6-K, furnished to the SEC on [January 3, 2025](https://www.sec.gov/Archives/edgar/data/1437424/000149315225000176/form6-k.htm) , [May 23, 2025](https://www.sec.gov/Archives/edgar/data/1437424/000117184325003409/f6k_052225.htm) , [July 1, 2025](https://www.sec.gov/Archives/edgar/data/1437424/000117184325004235/f6k_063025.htm) , [July 9, 2025](https://www.sec.gov/Archives/edgar/data/1437424/000117184325004374/f6k_070825.htm) , [July 17, 2025](https://www.sec.gov/Archives/edgar/data/1437424/000149315225011286/form6-k.htm) , [September 5, 2025](https://www.sec.gov/Archives/edgar/data/1437424/000149315225012668/form6-k.htm) , [October 7, 2025](https://www.sec.gov/Archives/edgar/data/1437424/000117184325006319/f6k_100725.htm) , [October 28, 2025](https://www.sec.gov/Archives/edgar/data/1437424/000149315225019902/form6-k.htm) and [November 5, 2025](https://www.sec.gov/Archives/edgar/data/1437424/000149315225020789/form6-k.htm) ; and

● the description of our common shares contained in our Registration Statement on [Form 8-A](https://www.sec.gov/Archives/edgar/data/1437424/000149315222006553/form8a-12ba.htm) , as amended by Amendment No. 1 thereto filed with the SEC on March 11, 2022, and any amendments and reports updating such description.

Each prospectus supplement containing the specific terms of any offering of the Company's securities, if any, will be filed with the SEC and will be deemed to be incorporated by reference in this prospectus as of the date of the prospectus supplement and only for the purposes of the offering of the Company's securities to which that prospectus supplement pertains.

In addition, this prospectus shall also be deemed to incorporate by reference all subsequent annual reports filed on Form 20-F, Form 40-F or Form 10-K, and all subsequent filings on Forms 10-Q and 8-K (if any) filed by us pursuant to the Exchange Act prior to the termination of the offering made by this prospectus. We may also incorporate by reference into this prospectus any Form 6-K that is submitted to the SEC after the date of the filing of the registration statement of which this prospectus forms a part and before the date of termination of any offering hereunder. Any such Form 6-K that we intend to so incorporate shall state in such form that it is being incorporated by reference into this prospectus. The documents incorporated or deemed to be incorporated herein by reference contain meaningful and material information relating to us, and you should review all information contained in this prospectus and the documents incorporated or deemed to be incorporated herein by reference.

Any statement contained in this prospectus or in a document incorporated or deemed to be incorporated by reference in this prospectus will be deemed to be modified or superseded for purposes of this prospectus to the extent that a statement contained herein, in any prospectus supplement hereto, or in any other subsequently filed document that also is or is deemed to be incorporated by reference herein, modifies or supersedes such statement. The modifying or superseding statement need not state that it has modified or superseded a prior statement or include any other information set forth in the document that it modifies or supersedes. The making of a modifying or superseding statement is not to be deemed an admission for any purposes that the modified or superseded statement, when made, constituted a misrepresentation, an untrue statement of a material fact or an omission to state a material fact that is required to be stated or that is necessary to make a statement not misleading in light of the circumstances in which it was made. Any statement so modified or superseded will not be deemed, except as so modified or superseded, to constitute a part of this prospectus.

Documents which we incorporate by reference are available from us without charge. You may obtain copies of any or all of the documents incorporated by reference in this prospectus by requesting them in writing or by telephone from us at:

POET Technologies Inc.

Attention: Corporate Secretary

Suite 1107, 120 Eglinton Avenue East Toronto

Ontario, M4P 1E2 Canada

(416) 368-9411

**Forward-Looking Statements**

This prospectus and the documents incorporated by reference in this prospectus contain forward-looking information and forward-looking statements within the meaning of Canadian and United States securities laws (collectively, "forward-looking statements"), including the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by the use of forward-looking terminology or words, such as, "continues," "with a view to," "is designed to," "pending," "predict," "potential," "plans," "expects," "anticipates," "believes," "intends," "estimates," "projects" and similar expressions or variations thereon, or statements that events, conditions or results "can," "might," "will," "shall," "may," "must," "would," "could," or "should" occur or be achieved and similar expressions in connection with any discussion, expectation, or projection of future operating or financial performance, events or trends. Forward-looking statements are based on management's current expectations and assumptions, which are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict.

The forward-looking statements in this prospectus and the documents incorporated by reference in this prospectus are subject to various risks and uncertainties, including those described under the heading "Risk Factors" as well as under the heading "Risk Factors" in the Company's Annual Report and the Third Quarter MD&A, many of which are difficult to predict and generally beyond the control of the Company, including without limitation, risks:

● associated with the Company's history of operating losses;

● associated with the Company's ability to attract and retain key personnel;

● associated with the highly complex and uncertain nature of developing technologically advanced products in the semiconductor and photonics sectors;

● associated with the optical data communications industry, including rapid growth, volatility and dependence on rapidly changing technologies;

● that the Company's objectives for the development of new products will not be met within the timelines the Company expects or at all;

● that the Company will not be able to compete in highly competitive markets;

● associated with the Company's ability to consummate strategic acquisitions;

● that acquisitions the Company pursues could result in operating and other difficulties relating to integration of new businesses into the Company's existing business, dilution to the Company's shareholders and other consequences harmful to the Company's business;

● the Company's reliance on the success of its Optical Interposer;

● associated with the Company's products being completed, qualified and introduced according to end-user requirements;

● associated with the difficulties of forecasting customer demand and product mix accurately;

● associated with engineering, product development and manufacturing;

● associated with the Company's reliance on a limited number of key suppliers and contract manufacturers;

● associated with companies operating in the People's Republic of China;

● associated with economic and political uncertainties;

● arising from new tariffs on the Company's supply chain and cost structure;

● associated with governmental export and import controls;

● that the trading price of the common shares of the Company will be volatile;

● that shareholders' interests will be diluted through future stock offerings or options and warrant exercises;

● that sales of common shares, or the prospect of future sales, may depress our stock price;

● associated with the Company's internal control over financial reporting;

● associated with successfully protecting patents and trademarks and other intellectual property rights;

● associated with potential intellectual property disputes;

● associated with disruptions or failures in information technology systems and network infrastructures;

● associated with significant disruption in, or breach in security of, our information technology systems or violations of data protection laws;

● associated with potential political, legal and economic instability, foreign conflicts, and the impact of regional and global infectious illnesses in the countries in which we and our customers, suppliers and contract manufacturers are located;

● related to periodic changes in a specific country's or region's economic conditions, such as recession;

● associated with natural disasters or other catastrophic events;

● associated with regulatory matters, including the Company's ability to obtain all required licenses to conduct its business, trade-related barriers, certification requirements, and Canadian and foreign anticorruption laws;

● associated with fluctuations in foreign currency exchange rates;

● associated with the failure to comply with the U.S. Foreign Corrupt Practices Act;

● concerning the actual allocation of proceeds from any financings undertaken by the Company;

● concerning the Company's ability to use its net operating losses and certain other tax attributes;

● associated with the Company's ability to maintain its status as a "foreign private issuer;"

● that the rights of our shareholders may differ from the rights typically afforded to shareholders of a U.S. corporation; and

● associated with any characterization of the Company as a passive foreign investment company.

Although the Company has attempted to identify important factors that could cause actual actions, events, conditions, results, performance or achievements to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events, conditions, results, performance or achievements to differ from what is anticipated, estimated or intended, including those factors described or referred to under the heading "Risk Factors" in this prospectus and in the Annual Report, in the Third Quarter MD&A and elsewhere in this prospectus and the documents incorporated by reference herein. Additional risks and uncertainties not presently known to the Company or that the Company currently deems immaterial may also impair the Company's business operations.

Readers are cautioned that the foregoing list of factors is not exhaustive of the factors that may affect forward-looking statements. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained or incorporated by reference into this prospectus. Such statements are based on a number of assumptions, which may prove to be incorrect.

All forward-looking statements contained in this prospectus and the documents incorporated herein by reference are qualified by this cautionary statement. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information or future events or otherwise, except as may be required by law. If the Company does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

**About the Company**

This summary highlights information contained elsewhere in this prospectus or incorporated by reference in this prospectus. This summary may not contain all the information that may be important to you, and we urge you to read this entire prospectus and the documents incorporated by reference in this prospectus carefully before deciding to invest in our common shares.

***General***

The legal and commercial name of the Company is POET Technologies Inc. The Company was originally incorporated under the Business Corporations Act (British Columbia) (the "BCBCA") on February 9, 1972, as Tandem Resources Ltd. On November 14, 1985, Tandem Resources Ltd. amalgamated with Stanmar Resources Ltd. and Keezic Resources Ltd., to continue as one company under the name Tandem Resources Ltd. under the BCBCA. By Articles of Continuance dated January 3, 1997, Tandem Resources Ltd. was continued under the Business Corporations Act (Ontario) (the "OBCA"). By Articles of Amendment dated September 26, 2006, Tandem Resources Ltd. changed its name to OPEL International Inc. By Certificate of Continuance dated January 30, 2007, OPEL International Inc. was continued under the Business Corporations Act (New Brunswick). By Articles of Continuance dated November 30, 2010, OPEL International Inc. was continued under the OBCA and changed its name to OPEL Solar International Inc. By Articles of Amendment dated August 25, 2011, OPEL Solar International Inc. changed its name to OPEL Technologies Inc. By Articles of Amendment dated July 23, 2013, OPEL Technologies Inc. changed its name to POET Technologies Inc. Today, the Company is an Ontario-based corporation governed by the OBCA.

The Company's head and registered office is located at Suite 1107, 120 Eglinton Avenue East, Toronto, Ontario, M4P 1E2. Our telephone number is (416) 368-9411. The Company's website is www.poet-technologies.com.

***Intercorporate Structure***

 ****

***Description of the Business***

The Company is a design and development company offering photonic integrated packaging solutions based on the POET Optical Interposer™, a novel platform that allows the seamless integration of electronic and photonic devices onto a single chip using advanced wafer-level semiconductor manufacturing techniques. The semiconductor industry has adopted the term "Wafer-Level Chip-Scale Packaging" to describe similar approaches within the semiconductor industry. POET's Optical Interposer eliminates costly components and labor-intensive assembly, alignment, and testing methods employed in conventional photonics. We believe the cost-efficient integration scheme and scalability of the POET Optical Interposer brings value to devices or systems that integrate electronics and photonics, including high-growth areas of communications and computing. The emergence of artificial intelligence systems has placed extraordinary demands on cloud-based artificial intelligence service providers and hyperscale data centers for increases in network speeds and bandwidth. We believe that chip-scale integration is essential to developing hardware that can meet such demands and that the Company is on the forefront of providing scalable solutions for current and future artificial intelligence systems.

***Optical Interposer and Optical Engines***

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The Company's Optical Interposer is a platform technology; a technology on which specific products can be integrated and built. The optical interposer platform's basic elements and built-in features allow the close integration of a wide variety of electronic and photonic components into an "optical engine." The combination of the platform, selected platform features and a specific set of components define an optical engine product.

Utilizing the Optical Interposer platform, the Company has successfully developed several optical engine products. These products are in various stages of evaluation / qualification by major customers, which are primarily makers of optical modules and, therefore, are in the process of being commercialized. The evaluation / qualification process typically takes several months and often involves a request to make specific modifications to the optical engines or the optical interposer in order to meet either established industry standards or specific customer requirements.

Additional information regarding the business of the Company can be found in the Annual Report and other documents incorporated by reference herein, copies of which are available for review under the Company's issuer profile on EDGAR at www.sec.gov/EDGAR. See "*Incorporation of Certain Information by Reference*."

***Transfer Agent and Registrar***

The transfer agent and registrar of the Company's common shares is Computershare Trust Company of Canada, 510 Burrard Street, 3rd Floor, Vancouver, British Columbia, V6C 3B9.

***Listing***

Our common shares are listed and posted for trading on Nasdaq under the symbol "POET."

**Risk Factors**

*Investing in our securities involves a high degree of risk. Please see the "Risk Factors" section in any prospectus supplement and in our most recent Annual Report and Third Quarter MD&A, along with any disclosure related to the risk factors contained in our subsequent reports, in each case which are incorporated by reference in this prospectus, as amended, supplemented or superseded from time to time by other reports we file with the SEC in the future. Before making an investment decision, you should carefully consider these risks as well as all other information contained or incorporated by reference in this prospectus. If any of the events described in such "Risk Factors" section occurs or the risks described therein actually materialize, our business, financial condition, results of operations, cash flow or prospects could be materially adversely affected. Risks and uncertainties not presently known to us or that we currently deem immaterial may also impair our business operations, our financial results and the value of our securities. The prospectus supplement applicable to each type or series of securities we offer may contain a discussion of additional risks applicable to an investment in us and the particular type of securities we are offering under that prospectus supplement.*

 

**Offer Statistics and Expected Timetable**

We may sell from time to time pursuant to this prospectus (as may be described in more detail in one or more prospectus supplements) an indeterminate number of securities. The actual per share price of the securities that we will offer pursuant hereto, if any, will depend on a number of factors that may be relevant as of the time of offer. See "Plan of Distribution" below.

**Material Changes**

Except as otherwise disclosed in this prospectus, there have been no material changes to our operations that have occurred since December 31, 2024, and that have not been described in a report on Form 20-F or Form 6-K, including the documents filed as exhibits thereto, filed or furnished under the Exchange Act and incorporated by reference into this prospectus.

**Reasons for the Offer and Use of Proceeds**

Unless otherwise indicated in a prospectus supplement relating to a particular offering of securities, the net proceeds to be received by us from the issue and sale from time to time of the securities, if any, will be used for general working capital purposes related to research and development of its optical engines for transceivers and light source modules for the AI market, capital asset purchases and selling and general and administrative expenses. The Company currently has a negative operating cash flow, which may continue for the foreseeable future. During the fiscal year ended December 31, 2024 and nine-month period ended September 30, 2025, the Company had negative cash flow from operating activities. The Company anticipates it will continue to have negative cash flow from operating activities in future periods until sustained profitable commercial production is achieved on its main products and projects. As a result, if necessary, certain of the net proceeds may be used to fund such negative cash flow from operating activities in future periods.

Additional information on the use of net proceeds we receive from the sale of securities covered by this prospectus may be set forth in the prospectus supplement relating to a specific offering.

While the Company intends to spend the net proceeds of the offering of securities pursuant to this prospectus as stated above, there may be circumstances where, for sound business reasons, a re-allocation of funds may be necessary or advisable. The actual amount that the Company spends in connection with each of the intended uses of proceeds will depend on a number of factors, including those listed under the heading "Risk Factors" in this prospectus, any prospectus supplement and the documents incorporated by reference herein and therein.

**Description of Share Capital and Memorandum and Articles of Association**

The authorized capital of the Company consists of an unlimited number of common shares, without par value, of which there were 132,021,526 common shares issued and outstanding as of December 31, 2025, and one special voting share, of which there were nil special voting shares issued and outstanding as of December 31, 2025. Our common shares are listed and posted for trading on Nasdaq under the symbol "POET."

As of December 31, 2025, the Company had 37,364,938 share purchase warrants outstanding as follows:

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| | | |
|:---|:---|:---|
| **Number of Share<br> Purchase Warrants** | **Exercise Price** | **Expiry Date** |
| 2569187 | $1.09 | January 24, 2029 |
| 2048275 | $3.05 | May 10, 2029 |
| 3333334 | $4.00 | July 19, 2029 |
| 2000000 | $5.09 | September 25, 2029 |
| 2777778 | $6.00 | December 4, 2029 |
| 6000000 | $5.98 | May 22, 2030 |
| 5000000 | $5.86 | July 17, 2030 |
| 13636364 | $7.25 | October 7, 2030 |

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Certain of these warrants are subject to anti-dilution adjustment based upon the outstanding common shares at the time of exercise.

The Company has also issued incentive options to certain directors and officers of the Company. As at December 31, 2025, there were options exercisable for up to 5,827,544 common shares at a weighted average exercise price of $1.93 and with expiration dates ranging from September 14, 2027 to November 4, 2035.

***History of Share Capital***

A discussion of the changes in the Company's share capital for the years ending December 31, 2024, 2023 and 2022 is contained in notes 11, 12, 13 and 14 to our historical annual consolidated financial statements included in our Annual Report and is incorporated by reference herein.

The following table includes changes to the Company's share capital occurring subsequent to those changes disclosed in our Annual Report:

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| | | | | |
|:---|:---|:---|:---|:---|
| **Date of**<br> **Issuance** | **Description of** <br> **Securities** | **Purchase/Exercise/Deemed** <br> **Price per Security** | **Number of** <br> **Securities** | **Total Gross**<br> **Consideration** |
| 01-Jan-25 | Common Shares | CA$1.75 | 46876 | CA$82,033.00 |
| 03-Jan-25 | Common Shares | CA$1.75 | 2951 | CA$5,164.25 |
| 06-Jan-25 | Common Shares | CA$1.75 | 24312 | CA$42,546.00 |
| 08-Jan-25 | Common Shares | CA$1.52 | 9000 | CA$13,680.00 |
| 15-Jan-25 | Common Shares | CA$1.75 | 4000 | CA$7,000.00 |
| 22-Jan-25 | Common Shares | CA$1.52 | 16500 | CA$25,080.00 |
| 31-Jan-25 | Common Shares | CA$1.75 | 6798 | CA$11,896.50 |
| 05-Feb-25 | Common Shares | CA$4.26 | 1400000 | CA$5,964,000.00 |
| 10-Feb-25 | Common Shares | CA$1.52 | 14800 | CA$22,496.00 |
| 11-Feb-25 | Common Shares | CA$1.75 | 2188 | CA$3,829.00 |
| 20-Feb-25 | Common Shares | CA$1.75 | 2875 | CA$5,031.25 |
| 25-Feb-25 | Common Shares | CA$1.75 | 11250 | CA$19,687.50 |
| 25-Feb-25 | Common Shares | CA$1.79 | 20000 | CA$35,800.00 |
| 28-Feb-25 | Common Shares | CA$1.75 | 1094 | CA$1,914.50 |
| 21-Mar-25 | Common Shares | CA$1.75 | 4906 | CA$8,585.50 |
| 08-Apr-25 | Common Shares | CA$1.75 | 700 | CA$1,225.00 |
| 10-Apr-25 | Common Shares | CA$1.75 | 1094 | CA$1,914.50 |
| 29-Apr-25 | Common Shares | CA$1.75 | 125342 | CA$219,348.50 |
| 05-May-25 | Common Shares | CA$1.75 | 27800 | CA$48,650.00 |
| 08-May-25 | Common Shares | CA$1.12 | 83000 | CA$92,960.00 |
| 12-May-25 | Common Shares | CA$1.52 | 50000 | CA$76,000.00 |
| 12-May-25 | Common Shares | CA$1.75 | 500 | CA$875.00 |
| 13-May-25 | Common Shares | CA$1.52 | 30000 | CA$45,600.00 |
| 13-May-25 | Common Shares | CA$1.75 | 9884 | CA$17,297.00 |
| 13-May-25 | Common Shares | CA$1.79 | 40000 | CA$71,600.00 |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Date of**<br> **Issuance** | **Description of** <br> **Securities** | **Purchase/Exercise/Deemed** <br> **Price per Security** | **Number of** <br> **Securities** | **Total Gross** <br> **Consideration** |
| 15-May-25 | Common Shares | CA$1.75 | 13050 | CA$22,837.50 |
| 16-May-25 | Common Shares | CA$1.75 | 1562 | CA$2,733.50 |
| 22-May-25 | Common Shares | US$5.00 | 6000000 | US$30,000,000.00 |
| 26-May-25 | Common Shares | CA$1.52 | 8500 | CA$12,920.00 |
| 26-May-25 | Common Shares | CA$1.52 | 70000 | CA$106,400.00 |
| 28-May-25 | Common Shares | CA$1.75 | 500 | CA$875.00 |
| 30-May-25 | Common Shares | CA$1.75 | 11443 | CA$20,025.25 |
| 30-May-25 | Common Shares | CA$1.79 | 40000 | CA$71,600.00 |
| 05-Jun-25 | Common Shares | CA$1.79 | 10000 | CA$17,900.00 |
| 12-Jun-25 | Common Shares | CA$1.75 | 6000 | CA$10,500.00 |
| 17-Jun-25 | Common Shares | CA$1.75 | 6000 | CA$10,500.00 |
| 18-Jun-25 | Common Shares | CA$1.75 | 67894 | CA$118,814.50 |
| 18-Jun-25 | Common Shares | CA$1.75 | 132106 | CA$231,185.50 |
| 24-Jun-25 | Common Shares | CA$1.75 | 58646 | CA$102,630.50 |
| 25-Jun-25 | Common Shares | CA$1.75 | 64154 | CA$112,269.50 |
| 26-Jun-25 | Common Shares | CA$1.75 | 48380 | CA$84,665.00 |
| 27-Jun-25 | Common Shares | CA$1.75 | 40275 | CA$70,481.25 |
| 27-Jun-25 | Common Shares | CA$2.48 | 1250 | CA$3,100.00 |
| 30-Jun-25 | Common Shares | CA$1.79 | 10000 | CA$17,900.00 |
| 30-Jun-25 | Common Shares | CA$1.75 | 10000 | CA$17,500.00 |
| 30-Jun-25 | Common Shares | CA$1.52 | 222222 | CA$337,777.44 |
| 02-Jul-25 | Common Shares | CA$2.48 | 4250 | CA$10,540.00 |
| 02-Jul-25 | Common Shares | CA$1.75 | 9000 | CA$15,750.00 |
| 03-Jul-25 | Common Shares | CA$1.79 | 25000 | CA$44,750.00 |
| 04-Jul-25 | Common Shares | CA$1.75 | 25000 | CA$43,750.00 |
| 09-Jul-25 | Common Shares | CA$1.75 | 7582 | CA$13,268.50 |
| 10-Jul-25 | Common Shares | CA$1.75 | 32375 | CA$56,656.25 |
| 11-Jul-25 | Common Shares | CA$1.52 | 44400 | CA$67,488.00 |
| 11-Jul-25 | Common Shares | CA$1.75 | 39187 | CA$68,577.25 |
| 11-Jul-25 | Common Shares | CA$1.12 | 13500 | CA$15,120.00 |
| 11-Jul-25 | Common Shares | CA$1.12 | 76500 | CA$85,680.00 |
| 14-Jul-25 | Common Shares | CA$1.75 | 12102 | CA$21,178.50 |
| 14-Jul-25 | Common Shares | CA$1.75 | 1250 | CA$3,100.00 |
| 15-Jul-25 | Common Shares | CA$2.48 | 5625 | CA$13,950.00 |
| 15-Jul-25 | Common Shares | CA$1.75 | 35188 | CA$61,579.00 |
| 17-Jul-25 | Common Shares | US$5.00 | 5000000 | US$25,000,000.00 |
| 22-Jul-25 | Common Shares | CA$1.75 | 8043 | CA$14,075.25 |
| 22-Jul-25 | Common Shares | CA$1.79 | 15000 | CA$26,850.00 |
| 22-Jul-25 | Common Shares | CA$2.48 | 1250 | CA$3,100.00 |
| 30-Jul-25 | Common Shares | CA$1.52 | 100000 | CA$152,000.00 |
| 12-Aug-25 | Common Shares | CA$1.75 | 313 | CA$547.75 |
| 14-Aug-25 | Common Shares | CA$1.75 | 2813 | CA$4,922.75 |
| 19-Aug-25 | Common Shares | CA$1.75 | 2949 | CA$5,160.75 |
| 21-Aug-25 | Common Shares | CA$1.75 | 3125 | CA$5,468.75 |
| 25-Aug-25 | Common Shares | CA$1.52 | 11111 | CA$16,888.72 |
| 26-Aug-25 | Common Shares | CA$1.75 | 813 | CA$1,422.75 |
| 29-Sep-25 | Common Shares | CA$1.75 | 269213 | CA$471,122.75 |
| 01-Oct-25 | Common Shares | CA$1.75 | 145000 | CA$253,750.00 |
| 02-Oct-25 | Common Shares | CA$1.75 | 201376 | CA$352,408.00 |
| 03-Oct-25 | Common Shares | CA$1.75 | 194752 | CA$340,816.00 |
| 06-Oct-25 | Common Shares | CA$1.75 | 313 | CA$547.75 |
| 07-Oct-25 | Common Shares | CA$1.75 | 313 | CA$547.75 |
| 07-Oct-25 | Common Shares | US$5.50 | 13636364 | US$75,000,002.00 |
| 07-Oct-25 | Common Shares | CA$1.52 | 43000 | CA$65,360.00 |
| 08-Oct-25 | Common Shares | CA$1.75 | 235376 | CA$411,908.00 |
| 09-Oct-25 | Common Shares | CA$1.75 | 1258756 | CA$2,202,823.00 |
| 09-Oct-25 | Common Shares | CA$1.52 | 81967 | CA$124,589.84 |
| 10-Oct-25 | Common Shares | CA$1.75 | 134426 | CA$235,245.50 |
| 15-Oct-25 | Common Shares | CA$1.75 | 127937 | CA$223,889.75 |
| 15-Oct-25 | Common Shares | CA$4.26 | 3258390 | CA$13,880,741.40 |
| 15-Oct-25 | Common Shares | CA$1.52 | 25000 | CA$38,000.00 |
| 16-Oct-25 | Common Shares | CA$1.75 | 17563 | CA$30,735.25 |
| 17-Oct-25 | Common Shares | CA$1.75 | 3046 | CA$5,330.50 |
| 17-Oct-25 | Common Shares | CA$1.52 | 329000 | CA$500,080.00 |
| 23-Oct-25 | Common Shares | CA$1.75 | 176556 | CA$308,973.00 |
| 23-Oct-25 | Common Shares | CA$1.52 | 13729 | CA$20,868.08 |
| 27-Oct-25 | Common Shares | CA$1.75 | 10000 | CA$17,500.00 |
| 28-Oct-25 | Common Shares | CA$7.25 | 20689655 | CA$149,999,998.75 |
| 31-Oct-25 | Common Shares | CA$1.52 | 298142 | CA$453,175.84 |
| 12-Nov-25 | Common Shares | US$1.27 | 312 | US$394.91 |
| 17-Nov-25 | Common Shares | CA$1.52 | 20000 | CA$30,400.00 |
| 03-Dec-25 | Common Shares | CA$1.52 | 25000 | CA$38,000.00 |
| 12-Dec-25 | Common Shares | US$1.79 | 500 | US$896.87 |
| 18-Dec-25 | Common Shares | US$1.79 | 750 | US$1,345.31 |
| 18-Dec-25 | Common Shares | US$1.27 | 18 | US$22.78 |
| 22-Dec-25 | Common Shares | US$1.79 | 100 | US$179.37 |
| 23-Dec-25 | Common Shares | US$1.27 | 66949 | US$84,740.70 |
| 23-Dec-25 | Common Shares | US$1.79 | 16326 | US$29,284.73 |
| 29-Dec-25 | Common Shares | US$1.27 | 312 | US$394.91 |
| 06-Jan-25 | Common Shares | US$1.27 | 20750 | US$26,264.31 |
| 06-Jan-25 | Common Shares | US$1.79 | 15625 | US$28,027.31 |
| 08-Jan-25 | Common Shares | US$1.79 | 312 | US$559.65 |
| 12-Jan-25 | Common Shares | US$1.27 | 5312 | US$6,723.66 |
| 12-Jan-25 | Common Shares | US$1.79 | 437 | US$783.87 |
| 14-Jan-25 | Common Shares | US$1.27 | 25874 | US$32,750.02 |
| 14-Jan-25 | Common Shares | US$1.79 | 500 | US$896.87 |
| 15-Jan-25 | Common Shares | US$1.27 | 10000 | US$12,657.50 |

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***Memorandum and Articles of Association***

The Company was originally formed under the British Columbia Company Act on February 9, 1972 as Tandem Resources Ltd. ("Tandem"). The Company took its current form after Tandem amalgamated with Stanmar Resources Ltd. and Keezic Resources Ltd. pursuant to Articles of Amalgamation on November 14, 1985. Tandem moved to Ontario by Articles of Continuance on January 3, 1997. Tandem changed its name to OPEL International Inc. by Articles of Amendment on September 26, 2006. OPEL International Inc. was continued under the New Brunswick Business Corporations Act on January 30, 2007, then back to Ontario by Articles of Continuance on November 30, 2010, changing its name to OPEL Solar International Inc. By Articles of Amendment on August 25, 2011, OPEL Solar International Inc. changed its name to OPEL Technologies, Inc. By Articles of Amendment on July 23, 2013, OPEL Technologies Inc. changed its name to POET Technologies Inc. Today, the Company is an Ontario corporation governed by the OBCA. The following are summaries of material provisions of our Articles of Continuance, as amended from time to time, insofar as they relate to the material terms of our common shares. This is only a summary and is not intended to be exhaustive. For further information, please refer to the full version of our constating documents attached as exhibits to our Annual Report.

***Register, Entry Number and Purposes***

Our Articles of Continuance became effective on November 30, 2010. Our corporation number in Ontario is 641402. The Articles of Continuance do not contain a statement of the Company's objects and purposes. However, the Articles of Continuance provide that there are no restrictions on business that the Company may carry on or the powers the Company may exercise as permitted under the OBCA.

***Board of Directors***

Pursuant to our By-laws and the OBCA, a director or officer who is a party to, or who is a director or officer of, or has a material interest in, any person who is a party to, a material contract or proposed material contract with the Company, shall disclose the nature and extent of his interest at the time and in the manner provided by the OBCA. Any such contract or proposed contract shall be referred to the Board or shareholders for approval even if such contract is one that in the ordinary course of the Company's business would not require approval by the Board or shareholders, and a director interested in a contract so referred to the Board shall not vote on any resolution to approve the same unless the contract or transaction: (i) relates primarily to his or her remuneration as a director of the Company or an affiliate; (ii) is for indemnity or insurance of or for the director or officer as permitted by the OBCA; or (iii) is with an affiliate.

Directors shall be paid such remuneration for their services as the Board may determine by resolution from time to time, and will be entitled to reimbursement for traveling and other expenses properly incurred by them in attending meetings of the Board or any committee thereof. Neither the Company's Articles nor By-laws require an independent quorum for voting on director compensation. Directors are not precluded from serving the Company in any other capacity and receiving remuneration therefor. A director is not required to hold shares of the Company. There is no age limit requirement respecting the retirement or non-retirement of directors.

The directors may sign the name and on behalf of the Company, or appoint any officer or officers or any other person or persons on behalf of the Company either to sign on behalf of the Company, all instruments in writing and any instruments in writing so signed shall be binding upon the Company without further authorization or formality. The term "instruments in writing" includes contracts, documents, powers of attorney, deeds, mortgages, hypothecs, charges, conveyances, transfers and assignments of property (real or personal, immovable or movable), agreements, tenders, releases, receipts and discharges for the payment of money or other obligations, conveyances, transfers and assignments of shares, stocks, bonds, debentures or other securities, instruments of proxy and all paper writing.

Nothing in the Company's By-laws limits or restricts the borrowing of money by the Company on bills of exchange or promissory notes made, drawn, accepted or endorsed by or on behalf of the Company.

Each director serves until the next Company's annual general meeting or until a successor is duly elected, unless the office is vacated in accordance with the Articles of Continuance.

***Rights, Preferences and Restrictions Attaching to Each Class of Shares***

The holders of common shares are entitled to vote at all meetings of the shareholders, except meetings at which only holders of a specified class of shares are entitled to vote. Each common share carries with it the right to one vote. Subject to the rights, privileges, restrictions and conditions attaching to any other class or series of shares of the Company, the holders of the common shares are entitled to receive any dividends declared and payable by the Company on the common shares. Dividends may be paid in money or property or by issuing fully paid shares of the Company. Subject to the rights, privileges, restrictions and conditions attaching to any other class or series of shares of the Company, the holders of the common shares are entitled to receive the remaining property of the Company upon dissolution.

No shares have been issued subject to call or assessment. There are no pre-emptive or conversion rights and no provisions for redemption or purchase for cancellation, surrender, or sinking or purchase funds. The common shares must be issued as fully-paid and non-assessable, and are not subject to further capital calls by the Company. The common shares are without par value. All of the common shares rank equally as to voting rights, participation in a distribution of the assets of the Company on a liquidation, dissolution or winding-up of the Company and the entitlement to dividends.

The Company does not currently have any preferred shares outstanding.

***Ordinary and Special Shareholders' Meetings***

The OBCA provides that the directors of a corporation shall call an annual meeting of shareholders not later than 15 months after holding the last preceding annual meeting. The OBCA also provides that, in the case of an offering corporation, the directors shall place before each annual meeting of shareholders, the financial statements required to be filed under the Ontario Securities Act and the regulation thereunder relating to the period that began immediately after the end of the last completed financial year and ended not more than six months before the annual meeting and the immediately preceding financial year, if any.

The Board has the power to call a special meeting of shareholders at any time.

Notice of the date, time and location of each meeting of shareholders must be given not less than 21 days nor more than 50 days before the date of each meeting to each director, to the auditor of the Company and to each shareholder who at the close of business on the record date for notice is entered in the securities register as the holder of one or more shares carrying the right to vote at the meeting.

Notice of a meeting of shareholders called for any other purpose other than consideration of the minutes of an earlier meeting, financial statements, reports of the directors or auditor, setting or changing the number of directors, the election of directors and reappointment of the incumbent auditor, must state the general nature of the special business in sufficient detail to permit the shareholder to form a reasoned judgment on such business, must state the text of any special resolution to be submitted to the meeting, and must, if the special business includes considering, approving, ratifying, adopting or authorizing any document or the signing of or giving of effect to any document, have attached to it, a copy of the document or state that a copy of the document will be available for inspection by shareholders at the Company's records office or another accessible location.

The only persons entitled to be present at a meeting of shareholders are those entitled to vote, the directors of the Company and the auditor of the Company. Any other person may be admitted only on the invitation of the chairman of the meeting or with the consent of the meeting. In circumstances where a court orders a meeting of shareholders, the court may direct how the meeting may be held, including who may attend the meeting.

***Limitations on Rights to Own Securities***

No share may be issued until it is fully paid.

Neither Canadian law nor our Articles or By-laws limit the right of a non-resident to hold or vote common shares of the Company, other than as provided in the Investment Canada Act (the "Investment Act"), as amended by the World Trade Organization Agreement Implementation Act (the "WTOA Act"). The Investment Act generally prohibits implementation of a direct reviewable investment by an individual, government or agency thereof, corporation, partnership, trust or joint venture that is not a "Canadian," as defined in the Investment Act (a "non-Canadian"), unless, after review, the minister responsible for the Investment Act is satisfied that the investment is likely to be of net benefit to Canada. An investment in the common shares of the Company by a non-Canadian (other than a "WTO Investor," as defined below) would be reviewable under the Investment Act if it were an investment to acquire direct control of the Company, and the value of the assets of the Company were CA$5.0 million or more (provided that immediately prior to the implementation of the investment the Company was not controlled by WTO Investors). An investment in common shares of the Company by a WTO Investor (or by a non- Canadian other than a WTO Investor if, immediately prior to the implementation of the investment the Company was controlled by WTO Investors) would be reviewable under the Investment Act if it were an investment to acquire direct control of the Company and the value of the assets of the Company equaled or exceeded certain threshold amounts determined on an annual basis.

The threshold for a pre-closing net benefit review depends on whether the purchaser is: (a) controlled by a person or entity from a member of the WTO; (b) a state- owned enterprise (SOE); or (c) from a country considered a "Trade Agreement Investor" under the Investment Act. A different threshold also applies if the Canadian business carries on a cultural business. The 2025 threshold for WTO Investors that are SOEs will be CA$551 million based on the book value of the Canadian business' assets, up from CA$528 million in 2024. The 2025 thresholds for review for direct acquisitions of control of Canadian businesses by private sector investor WTO Investors is $1.386 billion and private sector trade- agreement investors is $2.079 billion and are both based on the "enterprise value" of the Canadian business being acquired.

A non-Canadian, whether a WTO Investor or otherwise, would be deemed to acquire control of the Company for purposes of the Investment Act if he or she acquired a majority of the common shares of the Company. The acquisition of less than a majority, but at least one-third of the shares, would be presumed to be an acquisition of control of the Company, unless it could be established that the Company is not controlled in fact by the acquirer through the ownership of the shares. In general, an individual is a WTO Investor if he or she is a "national" of a country (other than Canada) that is a member of the WTO ("WTO Member") or has a right of permanent residence in a WTO Member. A corporation or other entity will be a "WTO Investor" if it is a "WTO Investor-controlled entity," pursuant to detailed rules set out in the Investment Act. The U.S. is a WTO Member. Certain transactions involving our common shares would be exempt from the Investment Act, including:

● an acquisition of the shares if the acquisition were made in the ordinary course of that person's business as a trader or dealer in securities;

● an acquisition of control of the Company in connection with the realization of a security interest granted for a loan or other financial assistance and not for any purpose related to the provisions of the Investment Act; and

● an acquisition of control of the Company by reason of an amalgamation, merger, consolidation or corporate reorganization, following which the ultimate direct or indirect control in fact of the Company, through the ownership of voting interests, remains unchanged.

***Procedures to Change the Rights of Shareholders***

In order to change the rights of our shareholders with respect to certain fundamental changes as described in Section 168 of the OBCA, the Company would need to amend our Articles to effect the change. Such an amendment would require the approval of holders of two-thirds of the votes of the Company's common shares, and any other shares carrying the right to vote at any general meeting of the shareholders of the Company, cast at a duly called special meeting. The OBCA also provides that a sale, lease or exchange of all or substantially all of the property of a corporation other than in the ordinary course of business of the corporation likewise requires the approval of the shareholders at a duly called special meeting. For such fundamental changes and sale, lease and exchange, a shareholder is entitled under the OBCA to dissent in respect of such a resolution amending the Articles and, if the resolution is adopted and the Company implements such changes, demand payment of the fair value of the shareholder's common shares.

***Impediments to a Change of Control***

The take-over bid regime in Canada is governed by, among other things, National Instrument 62-104 – Take-Over Bids and Issuer Bids ("NI 62-104"). Under NI 62-104, a "take-over bid" is defined as an offer to acquire the outstanding voting securities or equity securities of a class made to one or more persons or companies in a jurisdiction of Canada (also referred to as a local jurisdiction) or whose last address on the books of the target company is in the local jurisdiction, where the securities subject to the offer, together with the offeror's securities, constitute 20% or more of the outstanding securities of the class.

Pursuant to NI 62-104, all non-exempt take-over bids are required to abide by certain technical requirements, including:

● **Initial Deposit Period** – The offer must remain open for an initial deposit period of at least 105 days from the date of the bid. A shorter initial deposit period (not less than 35 days from the date of the bid) is available in circumstances where a target company issues a deposit period news release in respect of a proposed or commenced take-over bid. In this circumstance, an outstanding or subsequent competing take-over bid may avail itself of the shorter deposit period specified in the bid referred to in the deposit period news release. A shorter initial deposit period (of at least 35 days from the date of the bid) is also available in the case of an outstanding or subsequent competing bid in circumstances where a target company issues a news release announcing its intention to effect a negotiated alternative transaction.

● **Minimum Tender Requirement** – An offeror may not take up securities under the terms of its take-over bid unless the bid has met a minimum tender requirement consisting of more than 50% of the outstanding securities of the class that are subject to the bid (excluding securities beneficially owned, or over which control or direction is exercised by the offeror or by any person acting jointly or in concert with the offeror) having been deposited under the bid and not withdrawn.

● **Mandatory 10-day extension period** – If, at the end of the initial deposit period, an offeror is obligated to take up securities deposited under the terms of a take-over bid, the offeror must extend the period during which securities may be deposited under the period of the bid for a mandatory 10-day extension period and promptly issue a news release announcing that, among other things, the minimum tender requirement has been satisfied, the number of securities deposited and not withdrawn as at the expiry of the initial deposit period and the period during which securities may be deposited under the bid has been extended for the mandatory ten-day extension period.

● **Equal Treatment** – The take-over bid rules require that all holders of the same class of securities be offered identical consideration (or an identical choice of consideration). If a bidder increases the consideration to be paid for the securities during a take-over bid, this consideration must be increased for all shareholders, even if the bidder has already taken up and paid for some shares. The bidder (and anyone acting jointly or in concert with the bidder) is prohibited from entering into any collateral agreements or understanding that will (directly or indirectly) provide a shareholder of the target company with consideration of greater value than that paid or payable to other shareholders of the same class, subject to certain exemptions.

In addition to NI 62-104, there are also further regulations and guidance (including certain disclosure requirements) provided pursuant to National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider Reporting Issues ("NI 62-103"), National Policy 62-202 – Take-Over Bids – Defensive Tactics, National Policy 62-203 – Take-Over Bids and Issuer Bids, and applicable exchange rules.

***Shareholder Ownership Disclosure Threshold in Bylaws***

Neither our Articles nor By-laws contain a provision governing the ownership threshold above which shareholder ownership must be disclosed. Pursuant to securities legislation, an Early Warning Report and an Insider Report must be filed if a shareholder obtains ownership on a partially diluted basis of 10% or greater of the Company.

***Special Conditions for Changes in Capital***

The conditions imposed by the Company's Articles are not more stringent than required under the OBCA.

***Comparison of Ontario and Delaware Corporate Law***

The Company is a corporation governed by the OBCA. The OBCA differs in some material respects from the laws generally applicable to Delaware corporations under the Delaware General Corporation Law (the "DGCL"). Below is a summary of certain of those material differences. This summary is qualified in its entirety by reference to the DGCL, the OBCA and the Company's Articles and bylaws.

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| | | |
|:---|:---|:---|
|  | **Delaware** | **OBCA** |
| **Stockholder/ Shareholder Approval of Business Combinations; Fundamental Changes** | Under the DGCL, certain fundamental changes, such as amendments to the certificate of incorporation, a merger, consolidation, sale, lease, exchange or other disposition of all or substantially all of the property of a corporation not in the usual and regular course of the corporation's business, or a dissolution of the corporation, are generally required to be approved by the affirmative vote of the holders of a majority of the outstanding stock present in person or represented by proxy and entitled to vote on the matter, unless a corporation's certificate of incorporation or the bylaws require a higher percentage.<br>However, Section 251(h) of the DGCL provides that stockholders of a constituent corporation need not vote to approve a merger if: (i) the merger agreement permits or requires the merger to be effected under Section 251(h) and provides that the merger shall be effected as soon as practicable following the tender offer or exchange offer, (ii) a corporation consummates a tender or exchange offer for any and all of the outstanding stock of such constituent corporation that would otherwise be entitled to vote to approve the merger, (iii) immediately following the consummation of the offer, the stock accepted for purchase or exchange plus the stock owned by the consummating corporation equals at least the percentage of stock that would be required to adopt the agreement of merger under the DGCL, (iv) the corporation consummating the offer merges with or into such constituent corporation and (v) each outstanding share of each class or series of stock of the constituent corporation that was the subject of and not irrevocably accepted for purchase or exchange in the offer is to be converted in the merger into, or the right to receive, the same consideration to be paid for the shares of such class or series of stock of the constituent corporation irrevocably purchased or exchanged in such offer. | Under the OBCA, certain corporate alterations, such as changes to authorized share structure, continuances, into or out of province, certain amalgamations, sales, leases or other dispositions of all or substantially all of the property of a corporation (other than in the ordinary course of business) liquidations, dissolutions and certain arrangements are required to be approved by ordinary or special resolution as applicable.<br>An ordinary resolution means a resolution that is (i) submitted to a meeting of the shareholders of a corporation and passed, with or without amendment, by at least a majority of the votes cast, or (ii) consented to in writing by each shareholder of the corporation (or their authorized attorney) entitled to vote at such a meeting.<br>A special resolution means a resolution that is (i) submitted to a special meeting of the shareholders and passed, with or without amendment, by at least two-thirds of the votes cast, or (ii) consented to in writing by each shareholder of the corporation (or their authorized attorney) entitled to vote at such a meeting.<br>Under the OBCA, unless otherwise provided for in the articles, an action that adds to, removes or changes the rights, privileges, restrictions or conditions attached to issued shares of a class or series must be approved by a special separate resolution of the holders of the class or series of shares being affected. |

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| | | |
|:---|:---|:---|
|  | **Delaware** | **OBCA** |
|  | The DGCL does not contain a procedure comparable to a plan of arrangement under the OBCA. | Arrangements are permitted under the OBCA. In general, a plan of arrangement is approved by a corporation's board of directors and then is submitted to a court for approval. It is customary for a corporation in such circumstances to apply to a court initially for an interim order governing various procedural matters prior to calling any security holder meeting to consider the proposed arrangement. Subject to any order of the court, a plan of arrangement must be approved, in each case by special resolution, by (i) the shareholders of a corporation, and (ii) holders of shares of each class or series entitled to vote.<br>The court may determine, among other things, to whom notice shall be given and whether any shareholders may dissent from the proposed arrangement and receive payment of the fair value of their shares. Following compliance with the procedural steps contemplated in any such interim order (including as to obtaining security holder approval), the court would conduct a final hearing, which would, among other things, assess the fairness of the arrangement and approve or reject the proposed arrangement.<br>The OBCA does not contain a provision comparable to Section 251(h) of the DGCL. |
| **Special Vote Required for Combinations with Interested Stockholders/ Shareholders** | Unless a Delaware corporation's certificate of incorporation provides that it elects not to be governed by Section 203 of the DGCL, a Delaware corporation may not engage in a business combination with an interested stockholder for a period of three years after the time of the transaction in which the person became an interested stockholder, unless (i) the board of directors of the corporation, prior to the time of the transaction in which the person became an interested stockholder, approves either the business combination or the transaction in which the stockholder becomes an interested stockholder; (ii) upon consummation of the transaction which resulted in the stockholder becoming an interested stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation outstanding at the time the transaction commenced (excluding shares owned by directors and officers of the corporation and shares held in certain types of employee stock plans); or (iii) the board of directors and the holders of at least two-thirds of the outstanding voting stock not owned by the interested stockholder approve the business combination on or after the time of the transaction in which the person became an interested stockholder.<br>For purposes of Section 203, the DGCL, subject to specified exceptions, generally defines an interested stockholder to include any person who, together with that person's affiliates or associates, (i) owns 15% or more of the outstanding voting stock of the corporation (including any rights to acquire stock pursuant to an option, warrant, agreement, arrangement or understanding, or upon the exercise of conversion or exchange rights, and stock with respect to which the person has voting rights only), or (ii) is an affiliate or associate of the corporation and owned 15% or more of the outstanding voting stock of the corporation at any time within the previous three years. | The OBCA does not contain a provision comparable to Section 203 of the DGCL with respect to business combinations. |

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| | | |
|:---|:---|:---|
|  | **Delaware** | **OBCA** |
| **Appraisal Rights; Rights to Dissent** | Under the DGCL, a stockholder of a corporation participating in some types of major corporate transactions may, under varying circumstances, be entitled to appraisal rights pursuant to which the stockholder may receive cash in the amount of the fair market value of such stockholder's shares in lieu of the consideration such stockholder would otherwise receive in the transaction.<br>For example, a stockholder is entitled to appraisal rights in the case of a merger or consolidation if the shareholder is required to accept in exchange for the shares anything other than: (i) shares of stock of the corporation surviving or resulting from the merger or consolidation, or depository receipts in respect thereof; (ii) shares of any other corporation, or depository receipts in respect thereof, that on the effective date of the merger or consolidation will be either listed on a national securities exchange or held of record by more than 2,000 shareholders; (iii) cash instead of fractional shares of the corporation or fractional depository receipts of the corporation; or (iv) any combination of the foregoing. | The OBCA provides that shareholders of a corporation are entitled to exercise dissent rights in respect of certain matters and to be paid the fair value of their shares in connection therewith. Dissent rights are applicable when a corporation resolves to (i) amend its articles to change the restrictions on the issuance, transfer or ownership of the corporation's shares; (ii) amend its articles to alter the restrictions on the powers of the corporation or on the business it is permitted to carry on; (iii) amalgamate with another corporation; (iv) continue the corporation into another jurisdiction; (v) continue the corporation under the *Co-Operative Corporations Act* or the *Not-For-Profit Corporations Act, 2010*; or (vi) sell, lease or exchange all or substantially all its property.<br>A court may also make an order permitting a shareholder to dissent in certain circumstances.<br>|
| **Compulsory Acquisition** | Under the DGCL, a merger in which one corporation owns, prior to the merger, 90% or more of each class of stock of a second corporation may be completed without the vote of the second corporation's board of directors or shareholders. | The OBCA provides that if, within 120 days after the making of a bid to acquire shares, the offer is accepted by the holders of not less than 90% of the shares (other than the shares held by the offeror or an affiliate or associate of the offeror) of any class of shares to which the bid relates, the offeror is entitled, upon complying with the section, to acquire the shares held by dissenting offerees.<br>An offeror may acquire the shares held by a dissenting offeree by sending, on or before the earlier of the sixtieth (60th) day following the termination of the bid and the one hundred and eightieth (180th) day following the date of the bid, an offeror's notice to each dissenting offeree.<br>Dissenting offerees who have demanded payment for the fair value of his or her security may, within 30 days of receiving the offeror's notice, apply to the court for additional security of payment for the fair value of their shares. |

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| | | |
|:---|:---|:---|
|  | **Delaware** | **OBCA** |
| **Stockholder/ Shareholder Consent to Action Without Meeting** | Under the DGCL, unless otherwise provided in a corporation's certificate of incorporation, any action that can be taken at a meeting of the stockholders may be taken without a meeting if written consent to the action is signed by the holders of outstanding stock having not less than the minimum number of votes necessary to authorize or take the action at a meeting of the stockholders. | Under the OBCA and the Company's bylaws, and subject to certain exceptions, shareholders may take action without a meeting by executing a written resolution signed by all of the shareholders (or their authorized attorney) entitled to vote on that resolution.<br>A resolution in writing is as valid as if it had been passed at a meeting of the shareholders. |
| **Special Meetings of Stockholders/ Shareholders** | Under the DGCL, a special meeting of shareholders may be called by the board of directors or by such persons authorized in the certificate of incorporation or the bylaws. | Under the OBCA, the directors of the corporation may, at any time, call a special meeting of shareholders.<br>In addition, the holders of not less than five percent of the issued shares of a corporation that carry the right to vote at a meeting sought to be held may requisition the directors to call a meeting of shareholders for the purposes stated in the requisition. All shareholders entitled to vote as of the record date are entitled to notice of the meeting.<br>Subject to certain conditions, if the directors do not call a meeting within twenty-one days after receiving the shareholder's requisition, any shareholder who signed the requisition may call the meeting. |
| **Distributions and Dividends; Repurchases and Redemptions** | Under the DGCL, subject to any restrictions contained in the certificate of incorporation, a corporation may pay dividends out of its capital surplus or, if there is no surplus, out of net profits for the fiscal year in which the dividend is declared or the preceding fiscal year, as long as the amount of capital of the corporation following the declaration and payment of the dividend is not less than the aggregate amount of the capital represented by issued and outstanding shares having a preference upon the distribution of assets. Surplus is defined in the DGCL as the excess of the net assets over capital, as such capital may be adjusted by the board.<br>A Delaware corporation may purchase or redeem shares of any class for cash or other property except when its capital is impaired or would be impaired by the purchase or redemption. A corporation may, however, purchase or redeem out of capital shares that are entitled, upon any distribution of its assets, to a preference over another class or series of its shares or, if no shares entitled to a preference are outstanding, any of its shares if such shares will be retired and the capital reduced. | Under the OBCA, and subject to a corporation's articles or any unanimous shareholder agreement, a corporation may pay a dividend in money or other property (including by issuing shares or warrants by way of dividend) unless there are reasonable grounds for believing that the corporation is insolvent, or the payment of the dividend would render the corporation insolvent.<br>The OBCA provides that no rights, privileges, restrictions or conditions attached to a series of shares shall confer on the series a priority in respect of dividends or return of capital over any other series of shares of the same class.<br>Under the OBCA, a corporation may purchase or otherwise acquire any of its issued shares or warrants. However, the acquisition is generally subject to solvency tests similar to those applicable to the payment of dividends (as set out above).<br>A corporation may also redeem, on the terms and in the manner provided in its articles, any of its shares that has a right of redemption attached to it, subject to similar solvency tests (as set out above). |

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| | | |
|:---|:---|:---|
|  | **Delaware** | **OBCA** |
| **Vacancies on Board of Directors** | Under the DGCL, a vacancy or a newly created directorship may be filled by a majority of the directors then in office, although less than a quorum, or by the sole remaining director, unless otherwise provided in the certificate of incorporation or bylaws. Any newly elected director usually holds office for the remainder of the full term expiring at the annual meeting of stockholders at which the term of the class of directors to which the newly elected director has been elected expires. | Under the Company's bylaws, a director ceases to hold office if he or she dies, is removed from office by the shareholders, ceases to be qualified for election as a director or, subject to the OBCA, resigns by a written resignation received by the Company.<br>Also under the Company's bylaws, but subject to the OBCA, a quorum of directors may fill a vacancy on the board of directors. A director appointed or elected to fill a vacancy holds office for the unexpired term of his predecessor.<br>Under the OBCA, if there is not a quorum of directors, or if there has been a failure to elect the number of directors required by the articles or the OBCA, the directors in office shall call a special meeting of shareholders to fill the vacancy. If the directors fail to call a meeting, a shareholder may call the meeting.<br>In accordance with the OBCA and the Company's bylaws, the board of directors may appoint an additional director provided that the total number of directors, after that appointment, would not be greater than one and one-third times the number of directors required to have been elected at the last annual meeting of shareholders. |
| **Removal of Directors; Terms of Directors** | Under the DGCL, except in the case of a corporation with a classified board or with cumulative voting, any director or the entire board may be removed, with or without cause, by the holders of a majority of the shares entitled to vote at an election of directors. If a Delaware corporation has a classified board, unless its certificate of incorporation provides otherwise, any director or the entire board may only be removed by stockholders for cause. | Under the OBCA, and the Company's bylaws, the shareholders of the corporation may by ordinary resolution remove any director(s) from office. If the holders of any class or series have an exclusive right to elect one or more directors, a director may only be removed by an ordinary resolution of that class or series.<br>A director's vacancy may be filled at the meeting at which a director was removed.<br>According to the Company's bylaws, the board of directors shall be elected at each annual meeting of shareholders, and each director will hold office until the close of the first annual meeting following his or her election, subject to certain exceptions. All directors are eligible for re-election or re-appointment. |
| **Inspection of Books and Records** | Under the DGCL, any holder of record of stock or a person who is the beneficial owner of shares of such stock held either in a voting trust or by a nominee on behalf of such person has the right during usual business hours to inspect the corporation's books and records for a proper purpose. | Under the OBCA, directors, registered holders of shares, beneficial owners of shares and creditors of the corporation (including their agents and legal representatives) may examine and take extracts of certain corporation records free of charge.<br>Public companies will allow any other person to examine certain records of the corporation upon payment of a reasonable fee. |

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| | | |
|:---|:---|:---|
|  | **Delaware** | **OBCA** |
| **Amendment of Governing Documents** | Under the DGCL, a certificate of incorporation may be amended if: (i) the board of directors adopts a resolution setting forth the proposed amendment, declares the advisability of the amendment and directs that it be submitted to a vote at a meeting of shareholders; provided that, unless required by the certificate of incorporation, no meeting or vote is required to adopt an amendment for certain specified changes; and (ii) the holders of a majority of the outstanding shares of stock entitled to vote on the matter approve the amendment, unless the certificate of incorporation requires the vote of a greater or, if permitted by the DGCL, a lesser number of shares.<br>If a class vote on the amendment is required by the DGCL, a majority of the outstanding stock of the class is required, unless a greater proportion is specified in the certificate of incorporation or by other provisions of the DGCL.<br>Under the DGCL, the board of directors may amend a corporation's bylaws if so authorized in the certificate of incorporation. The shareholders of a Delaware corporation also have the power to amend bylaws. | Under the OBCA, amendments to the articles of incorporation generally require the approval of not less than two-thirds of the votes cast by shareholders entitled to vote on the resolution.<br>The directors may, by resolution, make, amend or repeal any bylaws that regulate the business or affairs of a corporation. The directors must submit the bylaw, amendment or repeal to the shareholders at the next meeting of shareholders, and the shareholders may confirm, reject or amend the bylaw, amendment or repeal. |
| **Indemnification of Directors and Officers** | Under the DGCL, subject to specified limitations in the case of derivative suits brought by a corporation's stockholders in its name, a corporation may indemnify any person who is made a party to any action, suit or proceeding on account of being a director, officer, employee or agent of the corporation (or was serving at the request of the corporation in such capacity for another corporation, partnership, joint venture, trust or other enterprise) against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by him or her in connection with the action, suit or proceeding, provided that there is a determination that: (i) the individual acted in good faith and in a manner reasonably believed to be in or not opposed to the best interests of the corporation; and (ii) in a criminal action or proceeding, the individual had no reasonable cause to believe his or her conduct was unlawful.<br>Without court approval, however, no indemnification may be made in respect of any derivative action in which an individual is adjudged liable to the corporation, except to the extent the Court of Chancery or the court in which such action or suit was brought shall determine upon application that, despite the adjudication but in view of all the circumstances of the case, such person is fairly and reasonably entitled to indemnity.<br>The DGCL requires indemnification of directors and officers for expenses (including attorneys' fees) actually and reasonably relating to a successful defense on the merits or otherwise of a derivative or third-party action.<br>Under the DGCL, a corporation may advance expenses to any director or officer relating to the defense of any proceeding upon the receipt of an undertaking by or on behalf of the director or officer to repay such amount if it shall ultimately be determined that such person is not entitled to be indemnified. | Pursuant to the Company's bylaws, the Company will indemnify a director or officer, a former director or officer or a person who acts or acted at the Company's request as a director or officer, or an individual acting in a similar capacity, to the fullest extent permitted by the OBCA.<br>Under the OBCA, a corporation may indemnify a present or former director or officer or another individual who acts or acted at the corporation's request as a director or officer, or in a similar capacity, of another entity (the "indemnified individual"), against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment reasonably incurred by the indemnified individual in respect of any civil, criminal, administrative, investigative or other proceeding in which the indemnified individual is involved because of that association with the Company or such other entity, and provided that the indemnified individual (i) acted honestly and in good faith with a view to the best interests of the Company, and (ii) in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, such indemnified individual had reasonable grounds for believing that his or her conduct was lawful.<br>The Company may indemnify, with court approval, an indemnified individual in respect of an action by or on behalf of the Company or such other entity to obtain a judgment in its favor, to which the indemnified individual is made a party because of their association with the Company or such other entity.<br>An indemnified individual is entitled to indemnification from the Company as a matter of right if such indemnified individual was not judged by a court or other competent authority to have committed any fault or omitted to do anything that the indemnified individual ought to have done and fulfilled the conditions set forth above. |

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| | | |
|:---|:---|:---|
|  | **Delaware** | **OBCA** |
| **Limited Liability of Directors and Officers** | The DGCL permits the adoption of a provision in a corporation's certificate of incorporation limiting or eliminating the monetary liability of a director to a corporation or its shareholders by reason of a director's breach of such director's fiduciary duties, except for (i) any breach of the duty of loyalty to the corporation or its shareholders; (ii) any act or omission not in good faith or involving intentional misconduct or a known violation of law; (iii) any breach in which a director obtains an improper personal benefit from the corporation; or (iv) the unlawful payment of a dividend or the unlawful approval of a stock repurchase.<br>The DGCL also permits the adoption of a provision in a corporation's certificate of incorporation limiting or eliminating the monetary liability of an officer to a corporation's shareholders by reason of an officer's breach of such officer's duty of care to the corporation, except for (i) any such monetary liabilities that result from any actions brought by or in the right of a corporation; (ii) any act or omission not in good faith or involving intentional misconduct or a known violation of law; or (iii) any breach in which an officer obtains an improper personal benefit from the corporation.  | Under the OBCA, every director and officer of a corporation in exercising his or her powers and discharging his or her duties to the corporation shall (i) act honestly and in good faith with a view to the best interests of the corporation, and (ii) exercise the care, diligence and skill that a reasonably prudent person would exercise in comparable circumstances.<br>Subject to the OBCA's unanimous shareholder agreement provisions, no provision in a contract, the articles of amalgamation, the bylaws or a resolution relieves a director or officer from the duty to act in accordance with the OBCA and the regulations thereunder or relieves him or her from liability for a breach thereof. |
| **Stockholder/ Shareholder Lawsuits** | Under the DGCL, a stockholder may bring a derivative action on behalf of the corporation to enforce the rights of the corporation; provided, however, that under Delaware case law, the plaintiff generally must be a stockholder not only at the time of the transaction that is the subject of the suit, but also throughout the duration of the derivative suit. Delaware law also requires that the derivative plaintiff make a demand on the directors of the corporation to assert the derivative claim before the suit may be prosecuted by the derivative plaintiff, unless such demand would be futile. An individual also may commence a class action suit on behalf of himself or herself and other similarly situated stockholders where the requirements for maintaining a class action have been met. | Under the OBCA, (i) a current or former shareholder (including a beneficial shareholder); (ii) a current or former director of a corporation; or (iii) any person who, in the discretion of the court, is an appropriate person (a "complainant") may bring an application to prosecute, defend, or discontinue an action on behalf of a corporation (a derivative action).<br>A complainant may apply to the court for leave to bring an action in the name and on behalf of a corporation or any of its subsidiaries or intervene in an action in which any such body corporate is a party, for the purpose of prosecuting, defending or discontinuing the action on behalf of a body corporate if the complainant has given fourteen days' notice to the directors of the corporation, and the court is satisfied that (i) the directors of the corporation will not bring, prosecute, defend or discontinue the action; (ii) the complainant is acting in good faith; and (iii) it appears to be in the best interest of the corporation for the action to be prosecuted or defended.<br>Under the OBCA, upon the final disposition of a derivative action, the court may make any order it determines to be appropriate, including an order requiring the corporation to pay reasonable legal fees and any other costs reasonably incurred by the complainant in connection with the action. |

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| | | |
|:---|:---|:---|
|  | **Delaware** | **OBCA** |
| **Oppression Remedy** | Although the DGCL imposes upon directors and officers fiduciary duties of loyalty (i.e., a duty to act in a manner believed to be in the best interest of the corporation and its stockholders) and care, the DGCL does not provide for a remedy for a breach of fiduciary duties that is comparable to the OBCA's oppression remedy. | The OBCA's oppression remedy enables a court to make an order (interim or final) to rectify conduct that is oppressive or unfairly prejudicial to or that unfairly disregards the interests of any security holder, creditor, director or officer of the corporation. To determine whether the oppression remedy is appropriate, the court will consider the corporation's actions and/or omissions (including decisions made by the directors), and the business and affairs of the corporation.<br>Under the OBCA, a complainant (as defined above) may bring an oppression application.<br>The oppression remedy provides the court with extremely broad and flexible jurisdiction to intervene in corporate affairs to protect shareholders. |
| **Blank Check Preferred Stock/Shares** | Under the DGCL, the certificate of incorporation of a corporation may give the board the right to issue new classes of preferred shares with voting, conversion, dividend distribution, and other rights to be determined by the board at the time of issuance, which could prevent a takeover attempt and thereby preclude shareholders from realizing a potential premium over the market value of their shares.<br>In addition, the DGCL does not prohibit a corporation from adopting a shareholder rights plan, or "poison pill," which could prevent a takeover attempt and preclude shareholders from realizing a potential premium over the market value of their shares. | According to the Company's bylaws, shares of the Company may be issued at such times and to such persons and for such consideration as the directors determine.<br>Under the OBCA, the articles of a corporation may authorize the issuance of any class of shares in one or more series and may determine the designation, rights, privileges, restrictions and conditions attaching to the shares of each series.<br>Under the OBCA, each share of a series of shares must have the same special rights or restrictions as are attached to every other share of that series of shares. In addition, the special rights or restrictions attached to shares of a series of shares must be consistent with the special rights or restrictions attached to the class of shares of which the series of shares is part.<br>In addition, the OBCA does not prohibit a corporation from adopting a shareholder rights plan, or "poison pill," which could prevent a takeover attempt and preclude shareholders from realizing a potential premium over the market value of their shares. |

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| | | |
|:---|:---|:---|
|  | **Delaware** | **OBCA** |
| **Advance Notification Requirements for Proposals of Stockholders/Shareholders** | Delaware corporations typically have provisions in their bylaws, often referred to as "advance notice bylaws," that require a stockholder proposing a nominee for election to the board of directors or other proposals at an annual or special meeting of the stockholders to provide notice of any such proposals to the corporation in advance of the meeting for any such proposal to be brought before the meeting of the stockholders. In addition, advance notice bylaws frequently require the stockholder nominating a person for election to the board of directors to provide information about the nominee, such as his or her age, address, employment and beneficial ownership of shares of the corporation's capital stock. The stockholder may also be required to disclose information about the stockholder, including, among other things, his or her name, share ownership and agreement, arrangement or understanding with respect to such nomination.<br>For other proposals, the proposing stockholder is often required by the bylaws to provide a description of the proposal and any other information relating to such stockholder or beneficial owner, if any, on whose behalf that proposal is being made, required to be disclosed in a proxy statement or other filings required to be made in connection with the solicitation of proxies for the proposal and pursuant to and in accordance with the Exchange Act and the rules and regulations promulgated thereunder. | Under the Company's bylaws, a shareholder may nominate a director pursuant to a proposal or requisition made in accordance with the provisions of the OBCA.<br>In addition, any person who at (i) the close of business on the date of giving notice; and (ii) on the record date for notice of such meeting, is a registered security holder of one or more shares carrying the right to vote, or who beneficially owns shares that are entitled to be voted ("Nominating Shareholder"), may elect a director, subject to fulfilling certain notice procedures. A Nominating Shareholder is required to give timely notice in the proper written form, as outlined in the bylaws.<br>To be in proper form, the notice of the Nominating Shareholder must set forth, amongst other things, (i) each proposed director nominee, and any other information relating to the nominee that would be required to be disclosed in a dissident's proxy circular under the OBCA and applicable security laws, and (ii) any proxy, contract, arrangement, understanding or relationship pursuant to which such Nominating Shareholder has a right to vote any shares of the Company and any other information relating to such Nominating Shareholder that would be required to be made in a dissident's proxy circular under the OBCA and applicable security laws.<br>In certain circumstances, the corporation may refuse to process a proposal. |

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**Description of the Securities**

This prospectus contains summary descriptions of the common shares, debt securities, warrants, subscription receipts, rights and units that we may offer from time to time. These summary descriptions are not meant to be complete descriptions of each security. We will also set forth in the applicable prospectus supplement a description of the securities that may be offered under this prospectus. The applicable prospectus supplement may add, update or change the terms and conditions of the securities as described in this prospectus. The terms of the offering of securities, the initial offering price and the net proceeds to us will be contained in the prospectus supplement and/or other offering material relating to such offering. You should read the applicable prospectus supplement relating to the securities being offered pursuant to this prospectus and any other offering materials that we may provide.

**Description of Common Shares**

We may issue, separately or together with, or upon conversion, exercise or exchange of other securities, common shares from time to time, as set forth in the applicable prospectus supplement. See "Description of Share Capital" above.

**Description of Debt Securities**

The following description of the terms of the debt securities sets forth certain general terms and provisions of the debt securities in respect of which a prospectus supplement will be filed. The particular terms and provisions of the debt securities offered by any prospectus supplement, and the extent to which the general terms and provisions described below may apply thereto, will be described in a prospectus supplement filed in respect of such debt securities.

Debt securities may be offered separately or in combination with one or more other securities. The Company may, from time to time, issue debt securities and incur additional indebtedness other than through the issue of debt securities pursuant to this prospectus.

Debt securities will be issued under one or more indentures (each, a "debt indenture"), in each case between the Company and an appropriately qualified entity authorized to carry on business as a trustee. The description below is not exhaustive and is subject to, and qualified in its entirety by reference to, the detailed provisions of the applicable debt indenture.

The following description sets forth certain general terms and provisions of the debt securities and is not intended to be complete. We have filed a form of indenture as Exhibit 4.4 to the registration statement of which this prospectus is a part. When debt securities are offered in the future, the prospectus supplement will explain the particular terms of those securities and the extent to which these general provisions may apply. Capitalized terms used in the summary have the meanings specified in the indenture.

*General*

The debt securities may be issued from time to time in one or more series and may be convertible into other securities. The Company may specify a maximum aggregate principal amount for the debt securities of any series and, unless otherwise provided in the applicable prospectus supplement, a series of debt securities may be reopened for issuance of additional debt securities of such series.

Any prospectus supplement for debt securities will contain the specific terms and other information with respect to the debt securities being offered thereby, including:

● the designation, aggregate principal amount and authorized denominations of such debt securities;

● any limit upon the aggregate principal amount of such debt securities;

● the currency or currency units for which such debt securities may be purchased and the currency or currency units in which the principal and any interest is payable (in either case, if other than Canadian dollars);

● the issue price (at par, at a discount or at a premium) of such debt securities;

● the date or dates on which such debt securities will be issued and delivered;

● the date or dates on which such debt securities will mature, including any provision for the extension of a maturity date, or the method of determination of such date(s);

● the rate or rates per annum (either fixed or floating, respectively) at which such debt securities will bear interest (if any) and, if floating, the method of determination of such rate;

● the date or dates from which any such interest will accrue and on which such interest will be payable and the record date or dates for the payment of such interest, or the method of determination of such date(s);

● if applicable, the provisions for subordination of such debt securities to other indebtedness of the Company;

● any redemption term or terms under which such debt securities may be defeased whether at or prior to maturity;

● any repayment or sinking fund provisions;

● any events of default applicable to such debt securities;

● whether such debt securities are to be issued in registered form or in the form of temporary or permanent global securities and the basis of exchange, transfer and ownership thereof;

● any exchange or conversion terms and any provisions for the adjustment thereof;

● if applicable, the ability of the Company to satisfy all or a portion of any redemption of such debt securities, any payment of any interest on such debt securities or any repayment of the principal owing upon the maturity of such debt securities through the issuance of securities of the Company or of any other entity, and any restriction(s) on the persons to whom such securities may be issued; and

● any other specific terms or covenants applicable to such debt securities.

The Company may include in a prospectus supplement specific terms pertaining to the debt securities that are in addition to, or in lieu of, the terms debt securities as described in this prospectus. To the extent that any particular terms of the debt securities described in a prospectus supplement differ from any of the terms of the debt securities described in this prospectus, the description of such terms set forth in this prospectus shall be deemed to have been superseded by the description of such differing terms set forth in such prospectus supplement with respect to such debt securities.

Unless otherwise specified in a prospectus supplement, the debt securities will be direct unsecured obligations of the Company and will rank *pari passu* (except as to sinking funds) with all other unsubordinated and unsecured indebtedness of the Company, including other debt securities issued under the debt indenture.

If less than all of the rights issued in any rights offering are exercised, we may offer any unsubscribed securities directly to persons other than our existing securityholders, to or through agents, underwriters or dealers or through a combination of such methods, including pursuant to standby arrangements, as described in the applicable prospectus supplement.

**Description of Warrants**

This section describes the general terms that will apply to any warrants for the purchase of common shares (the "equity warrants") or for the purchase of debt securities (the "debt warrants").

Warrants may be offered separately or together with other securities, as the case may be. Each series of warrants may be issued under a separate warrant indenture or warrant agency agreement to be entered into between the Company and one or more banks or trust companies acting as warrant agent or may be issued as stand-alone contracts. The applicable prospectus supplement will include details of the warrant agreements governing the warrants being offered. The warrant agent is expected to act solely as the agent of the Company and will not assume a relationship of agency with any holders of warrant certificates or beneficial owners of warrants. The following sets forth certain general terms and provisions of the warrants that may be offered hereunder. The specific terms of the warrants, and the extent to which the general terms described in this section apply to those warrants, will be set forth in the applicable prospectus supplement, if any.

*Equity Warrants*

The particular terms of each issue of equity warrants will be described in a related prospectus supplement. This description will include, where applicable:

● the designation and aggregate number of the equity warrants;

● the price at which the equity warrants will be offered;

● the currency or currencies in which the equity warrants will be offered;

● the date on which the right to exercise the equity warrants will commence and the date on which the right will expire;

● the class and/or number of common shares that may be purchased upon exercise of each equity warrant and the price at which and currency or currencies in which the common shares may be purchased upon exercise of each equity warrant;

● the terms of any provisions allowing for adjustment in (i) the class and/or number of common shares or other securities or property that may be purchased, or (ii) the exercise price per common share;

● whether the Company will issue fractional shares;

● the designation and terms of any securities with which the equity warrants will be offered, if any, and the number of the equity warrants that will be offered with each security;

● the date or dates, if any, on or after which the equity warrants and the related securities will be transferable separately;

● whether the equity warrants will be subject to redemption and, if so, the terms of such redemption provisions;

● whether the Company has applied to list the equity warrants and/or the related common shares on a stock exchange; and

● any other material terms or conditions of the equity warrants.

*Debt Warrants*

The particular terms of each issue of debt warrants, if any, will be described in a prospectus supplement. Such description will include, where applicable:

● the designation and aggregate number of debt warrants;

● the price at which the debt warrants will be offered;

● the currency or currencies in which the debt warrants will be offered;

● the designation and terms of any securities with which the debt warrants are being offered, if any, and the number of the debt warrants that will be offered with each security;

● the date or dates, if any, on or after which the debt warrants and the related securities will be transferable separately;

● the principal amount of debt securities that may be purchased upon exercise of each debt warrant and the price at which and currency or currencies in which that principal amount of debt securities may be purchased upon exercise of each debt warrant;

● the date on which the right to exercise the debt warrants will commence and the date on which the right will expire;

● the minimum or maximum amount of debt warrants that may be exercised at any one time;

● whether the debt warrants will be subject to redemption, and, if so, the terms of such redemption provisions; and

● any other material terms or conditions of the debt warrants.

 **Description of Subscription Receipts** 

The Company may issue subscription receipts, independently or together with other securities. Subscription receipts will be issued under one or more subscription receipt agreements.

A subscription receipt is a security of the Company that will entitle the holder to receive one or more common shares or a combination of common shares and warrants, upon the completion of a transaction, typically an acquisition by the Company of the assets or securities of another entity. After the offering of subscription receipts, the subscription proceeds for the subscription receipts are held in escrow by the designated escrow agent, pending the completion of the transaction. Holders of subscription receipts will not have any rights of shareholders of the Company. Holders of subscription receipts are only entitled to receive common shares or warrants or a combination thereof upon the surrender of their subscription receipts to the escrow agent or to a return of the subscription price for the subscription receipts together with any payments in lieu of interest or other income earned on the subscription proceeds.

Selected provisions of the subscription receipts and the subscription receipt agreements are summarized below. This summary is not complete. The statements made in this prospectus relating to any subscription receipt agreement and subscription receipts to be issued thereunder are summaries of certain anticipated provisions thereof and are subject to, and are qualified in their entirety by reference to, all provisions of the applicable subscription receipt agreement.

A prospectus supplement will set forth the following terms relating to the subscription receipts being offered:

● the designation of the subscription receipts;

● the aggregate number of subscription receipts offered and the offering price;

● the terms, conditions and procedures for which the holders of subscription receipts will become entitled to receive common shares or warrants or a combination thereof;

● the number of common shares or warrants or a combination thereof that may be obtained upon the conversion of each subscription receipt and the period or periods during which any conversion must occur;

● the designation and terms of any other securities with which the subscription receipts will be offered, if any, and the number of subscription receipts that will be offered with each security;

● the gross proceeds from the sale of such subscription receipts, including (if applicable) the terms applicable to the gross proceeds from the sale of such subscription receipts, plus any interest earned thereon;

● the material income tax consequences of owning, holding and disposing of such subscription receipts;

● whether such subscription receipts will be listed on any securities exchange;

● any terms, procedures and limitations relating to the transferability, exchange or conversion of the subscription receipts; and

● any other material terms and conditions of the subscription receipts.

**Description of Rights**

We may issue rights to purchase our securities. The rights may or may not be transferable by the persons purchasing or receiving the rights. In connection with any rights offering, we may enter into a standby underwriting or other arrangement with one or more underwriters or other persons pursuant to which such underwriters or other persons would purchase any offered Securities remaining unsubscribed for after such rights offering. Each series of rights will be issued under a separate rights agent agreement to be entered into between us and one or more banks, trust companies or other financial institutions, as rights agent, which we will name in the applicable prospectus supplement. The rights agent will act solely as our agent in connection with the rights and will not assume any obligation or relationship of agency or trust for or with any holders of rights certificates or beneficial owners of rights.

The prospectus supplement relating to any rights that we offer will include specific terms relating to the offering, including, among other matters:

● the date of determining the security holders entitled to the rights distribution;

● the aggregate number of rights issued and the aggregate amount of Securities purchasable upon exercise of the rights;

● the exercise price;

● the conditions to completion of the rights offering; and

● the date on which the right to exercise the rights will commence and the date on which the rights will expire.

Each right would entitle the holder of the rights to purchase for cash the principal amount of Securities at the exercise price set forth in the applicable prospectus supplement. Rights may be exercised at any time up to the close of business on the expiration date for the rights provided in the applicable prospectus supplement. After the close of business on the expiration date, all unexercised rights will become void.

**Description of Units**

The Company may issue units comprised of one or more of the other securities described herein in any combination. A prospectus supplement relating to the particular units offered, if any, will describe the terms of such units and, as applicable, the terms of such other securities.

Each unit is expected to be issued so that the holder of the unit is also the holder of each security included in the unit. Thus, the holder of a unit is expected to have the rights and obligations of a holder of each included security. The unit agreement under which a unit is issued, as the case may be, may provide that the securities included in the unit may not be held or transferred separately, at any time or at any time before a specified date.

The applicable prospectus supplement may describe:

● the designation and terms of the units and of the securities comprising the units, including whether and under what circumstances those securities may be held or transferred separately;

● any provisions for the issuance, payment, settlement, transfer or exchange of the units or of the securities comprising the units; and

● any other material terms and conditions of the units.

The preceding description and any description of units in an applicable prospectus supplement does not purport to be complete and is subject to and is qualified in its entirety by reference to the unit agreement and, if applicable, collateral arrangements and depositary arrangements relating to such units.

**Plan of Distribution**

We may sell the securities covered by this prospectus from time to time by one or more of the following methods, or any combination thereof, or through any other method permitted by law: to or through underwriters, brokers or dealers, with or without an underwriting syndicate, for them to offer and sell to the public; directly to one or more purchasers in negotiated purchases or in competitively bid transactions; through designated agents; directly to holders of warrants exercisable for our securities upon the exercise of warrants; to our existing securityholders in a rights offering; or through a combination of any of these methods of sale. We reserve the right to accept or reject, in whole or in part, any proposed purchase of securities, whether the purchase is to be made directly or through agents.

Each time that we use this prospectus to sell our securities, we will also provide a prospectus supplement that contains the specific terms of the offering, including the name or names of any underwriters, dealers or agents and the types and amounts of securities underwritten or purchased by each of them; the public offering price of the securities and the proceeds to us; any over-allotment options under which underwriters may purchase additional securities from us; any agency fees or underwriting discounts or other items constituting agents' or underwriters' compensation; any discounts, commissions or concessions allowed or reallowed or paid to underwriters, agents or dealers; any securities exchange or market on which the securities may be listed; and any delayed delivery arrangements.

The offer and sale of the securities described in this prospectus by us, the underwriters, or the third parties described above may be effected from time to time in one or more transactions: at a fixed price or prices, which may be changed; at market prices prevailing at the time of sale; in "at the market offerings" within the meaning of Rule 415(a)(4) of the Securities Act, to or through a market maker or into an existing trading market, on an exchange, or otherwise; at prices related to the prevailing market prices; or at negotiated prices.

Any public offering price and any discounts or concessions allowed or reallowed or paid to dealers may be changed from time to time.

Unless otherwise specified in the related prospectus supplement, each series of securities will be a new issue with no established trading market, other than our common shares, which are listed on Nasdaq. We may elect to list any securities on an exchange, but we are not obligated to do so. It is possible that one or more underwriters may make a market in the securities, but such underwriters will not be obligated to do so and may discontinue any market making at any time without notice. No assurance can be given as to the liquidity of, or the trading market for, any offered securities.

If underwriters are used in the sale of any securities, the securities will be acquired by the underwriters for their own account and may be resold from time to time in one or more transactions, including negotiated transactions, at a fixed public offering price or at varying prices determined at the time of sale. The securities may be either offered to the public through underwriting syndicates represented by managing underwriters, or directly by underwriters. Generally, the underwriters' obligations to purchase the securities will be subject to certain conditions precedent set forth in the applicable underwriting agreement. We may offer the securities to the public through underwriting syndicates represented by managing underwriters or by underwriters without a syndicate. The underwriters will be obligated to purchase all of the securities if they purchase any of the securities. Only underwriters that we have named in the prospectus supplement will be underwriters of the securities offered by that prospectus supplement.

If we use dealers in the sale of securities, we may sell securities to such dealers as principals. The dealers may then resell the securities to the public at varying prices to be determined by such dealers at the time of resale. If we use agents in the sale of securities, unless otherwise indicated in the prospectus supplement, they will use their reasonable best efforts to solicit purchases for the period of their appointment. We may solicit offers to purchase the securities directly, and we may sell the securities directly to institutional or other investors, who may be deemed underwriters within the meaning of the Securities Act with respect to any resales of those securities. Unless otherwise indicated in a prospectus supplement, if we sell directly, no underwriters, dealers or agents will be involved. The terms of these sales will be described in the applicable prospectus supplement. We will not make an offer of securities in any jurisdiction that does not permit such an offer.

We may authorize underwriters, dealers, or agents to solicit offers by certain types of institutional investors to purchase our securities at the public offering price set forth in the prospectus supplement pursuant to delayed delivery contracts providing for payment and delivery on a specified date in the future. The contracts will be subject only to those conditions set forth in the prospectus supplement, and the prospectus supplement will set forth any commissions or discounts we pay for solicitation of these contracts.

Agents and underwriters may be entitled to indemnification by us against civil liabilities, including liabilities under the Securities Act, or contribution with respect to payments that the agents or underwriters may make with respect to these liabilities. Agents and underwriters may engage in transactions with, or perform services for, us in the ordinary course of business.

We may enter into derivative transactions with third parties, or sell securities not covered by this prospectus to third parties in privately negotiated transactions. If the applicable prospectus supplement indicates in connection with those derivatives, then the third parties may sell securities covered by this prospectus and the applicable prospectus supplement, including in short sale transactions. If so, the third party may use securities pledged by us or borrowed from us or others to settle those sales or to close out any related open borrowings of shares, and may use securities received from us in settlement of those derivatives to close out any related open borrowings of securities. The third party in any such sale transaction will be an underwriter and will be identified in the applicable prospectus supplement (or a post-effective amendment).

In connection with the distribution of the securities offered under this prospectus, we may enter into swap or other hedging transactions with, or arranged by, underwriters or agents or their affiliates. These underwriters or agents or their affiliates may receive compensation, trading gain or other benefits from these transactions.

Under the securities laws of some states, to the extent applicable, the securities may be sold in such states only through registered or licensed brokers or dealers. In addition, in some states, certain of the securities may not be sold unless such securities have been registered or qualified for sale in such state or an exemption from registration or qualification is available and is complied with.

**Secondary Offerings by Selling Securityholders**

Securities may be sold under this prospectus by way of a secondary offering by or for the account of Selling Securityholders. The prospectus supplement for or including any offering of securities by Selling Securityholders will include the following information, to the extent required by applicable securities laws:

● the name of each Selling Securityholder:

● the number or amount of securities beneficially owned by each Selling Securityholder prior to the applicable offering;

● the number or amount of securities being offered for the account of each Selling Securityholder;

● the number or amount of securities to be beneficially owned by the Selling Securityholders immediately following the offering and the percentage that number or amount represents of the total number of the Company's outstanding securities; and

● all other information that is required to be included in the applicable prospectus supplement.

**Expense of the Issuance and Distribution** 

The following table sets forth those expenses to be incurred by us in connection with the issuance and distribution of the securities being registered, other than underwriting discounts and commissions.

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| | |
|:---|:---|
| SEC registration fee | (1) |
| Legal fees and expenses | (2) |
| Accounting fees and expenses | (2) |
| Miscellaneous | (2) |
| Total | (2) |

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(1) Pursuant to Rules 456(b) and 457(r) under the Securities Act, we are deferring payment of all applicable registration fees.

(2) These expenses are not presently known and cannot be estimated at this time as they are based upon the amount and type of security being offered, as well as the number of offerings. The aggregate amount of these expenses will be reflected in the applicable prospectus supplement.

**Certain Income Tax Considerations**

Material Canadian and/or U.S. income tax consequences relating to the purchase, ownership and disposition of any of the securities offered by this prospectus will be set forth in the applicable prospectus supplement relating to the offering of those securities. You are urged to consult your own tax advisors prior to any acquisition of our securities.

**Enforceability of Civil Liabilities** 

The Company is incorporated under and governed by the OBCA. Some of the directors and officers of the Company, as well as some of the entities named as experts in this prospectus, are residents of Canada or otherwise reside outside of the U.S., and all or a substantial portion of their assets are located outside the U.S. It may be difficult for investors who reside in the U.S. to effect service within the U.S. upon those directors, officers and experts who are not residents of the U.S. It may also be difficult for investors who reside in the U.S. to realize in the U.S. upon judgments of courts of the U.S. predicated upon our civil liability and the civil liability of the Company's directors, officers and experts under the U.S. federal securities laws. A final judgment for a liquidated sum in favor of a private litigant granted by a U.S. court and predicated solely upon civil liability under U.S. federal securities laws would, subject to certain exceptions identified in the law of individual provinces and territories of Canada, likely be enforceable in Canada if the U.S. court in which the judgment was obtained had a basis for jurisdiction in the matter that would be recognized by the domestic Canadian court for the same purposes. There is a significant risk that a given Canadian court may not have jurisdiction or may decline jurisdiction over a claim based solely upon U.S. federal securities law on application of the conflict of laws principles of the province or territory in Canada in which the claim is brought.

**Legal Matters**

Certain legal matters in connection with the securities offered hereby will be passed upon on behalf of POET by Katten Muchin Rosenman LLP with respect to U.S. legal matters and by Bennett Jones LLP with respect to Canadian legal matters. In addition, if legal matters in connection with any offering of securities made pursuant to this prospectus are passed upon by counsel for any underwriters, dealers or agents, such counsel will be named in the prospectus supplement relating to such offering.

**Experts**

Our consolidated financial statements as of December 31, 2024, 2023 and 2022 and for each of the years in the three-year period ended December 31, 2024 included in our Annual Report have been incorporated by reference herein and have been audited by Davidson & Company LLP with respect to our consolidated financial statements as of, and for the fiscal year ended, December 31, 2024 and by Marcum LLP with respect to our consolidated financial statements as of, and for the fiscal years ended, December 31, 2023 and 2022, both of which firms are independent registered public accounting firms. Such consolidated financial statements are included in reliance upon the reports of such firms given upon the authority of said firms as experts in accounting and auditing.

![](form3asr_001.jpg)

**POET TECHNOLOGIES INC.**

 **Common Shares**

 **Debt Securities**

 **Convertible Securities**

 **Warrants**

 **Subscription Receipts**

 **Rights**

 **Units**

**PROSPECTUS**

**January 22, 2026**

**PART II**

**INFORMATION NOT REQUIRED IN PROSPECTUS**

**Item 8. Indemnification of Directors and Officers.**

Section 136 of the OBCA and Section 6 of the bylaws provide for indemnification of our directors and officers.

Section 136 of the OBCA provides as follows:

**Indemnification**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136. (1) A corporation may indemnify a director or officer of the corporation, a former director or officer of the corporation or another individual who acts or acted at the corporation's request as a director or officer, or an individual acting in a similar capacity, of another entity, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by the individual in respect of any civil, criminal, administrative, investigative or other proceeding in which the individual is involved because of that association with the corporation or other entity.

**Advance of costs**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) A corporation may advance money to a director, officer or other individual for the costs, charges and expenses of a proceeding referred to in subsection (1), but the individual shall repay the money if the individual does not fulfill the conditions set out in subsection (3).

**Limitation**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) A corporation shall not indemnify an individual under subsection (1) unless the individual acted honestly and in good faith with a view to the best interests of the corporation or, as the case may be, to the best interests of the other entity for which the individual acted as a director or officer or in a similar capacity at the corporation's request.

**Same**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) In addition to the conditions set out in subsection (3), if the matter is a criminal or administrative action or proceeding that is enforced by a monetary penalty, the corporation shall not indemnify an individual under subsection (1) unless the individual had reasonable grounds for believing that the individual's conduct was lawful.

**Derivative actions**

(4.1) A corporation may, with the approval of a court, indemnify an individual referred to in subsection (1), or advance moneys under subsection (2), in respect of an action by or on behalf of the corporation or other entity to obtain a judgment in its favour, to which the individual is made a party because of the individual's association with the corporation or other entity as described in subsection (1), against all costs, charges and expenses reasonably incurred by the individual in connection with such action, if the individual fulfils the conditions set out in subsection (3).

**Right to indemnity**

(4.2) Despite subsection (1), an individual referred to in that subsection is entitled to indemnity from the corporation in respect of all costs, charges and expenses reasonably incurred by the individual in connection with the defence of any civil, criminal, administrative, investigative or other proceeding to which the individual is subject because of the individual's association with the corporation or other entity as described in subsection (1), if the individual seeking an indemnity,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) was not judged by a court or other competent authority to have committed any fault or omitted to do anything that the individual ought to have done; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) fulfils the conditions set out in subsections (3) and (4).

**Insurance**

(4.3) A corporation may purchase and maintain insurance for the benefit of an individual referred to in subsection (1) against any liability incurred by the individual,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) in the individual's capacity as a director or officer of the corporation; or

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) in the individual's capacity as a director or officer, or a similar capacity, of another entity, if the individual acts or acted in that capacity at the corporation's request.

**Application to court**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) A corporation or a person referred to in subsection (1) may apply to the court for an order approving an indemnity under this section and the court may so order and make any further order it thinks fit.

**Idem**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(6) Upon an application under subsection (5), the court may order notice to be given to any interested person and such person is entitled to appear and be heard in person or by counsel.

Section 6 of the bylaws contains the following provisions with respect to indemnification of our directors and officers and with respect to certain insurance we maintain with respect to its indemnification obligations:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6. Protection Of Directors, Officers and Others.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.1 Indemnification of Directors and Officers.** The Corporation shall indemnify a director or officer, a former director or officer or a person who acts or acted at the Company's request as a director or officer, or an individual acting in a similar capacity, of another entity, and the heirs and legal representatives of such a person to the fullest extent permitted by the Act.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**6.2 Insurance.** The Corporation may purchase and maintain insurance for the benefit of any person referred to in section 6.1 to the extent permitted by the Act.

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers or persons controlling the Company pursuant to the foregoing provisions, the Company has been informed that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

**Item 9. Exhibits.** 

**Exhibit Index**

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| | |
|:---|:---|
| **Number** | **Description** |
| 1.1 | Form of Underwriting Agreement\* |
| 4.1 | [Certificate and Articles of Continuance (incorporated by reference to Exhibit 1.1 to Amendment No. 1 to the Company's Registration Statement on Form 20-F filed on May 15, 2014 (File No. 000-55135))](https://www.sec.gov/Archives/edgar/data/1437424/000110465914039326/a14-12231_1ex1d1.htm) |
| 4.2 | [Amended and Restated Bylaws (incorporated by reference to Exhibit 1.2 to the Company's Annual Report on Form 20-F filed with the SEC on April 13, 2015)](https://www.sec.gov/Archives/edgar/data/1437424/000110465915027261/a15-8939_1ex1d2.htm) |
| 4.3 | [Articles of Amendment, dated February 24, 2022 (incorporated by reference to Exhibit 1.3 to the Company's Annual Report on Form 20-F filed with the SEC on April 27, 2022)](https://www.sec.gov/Archives/edgar/data/1437424/000149315222011268/ex1-3.htm) |
| 4.4 | [Form of Indenture (incorporated by reference to Exhibit 7.1 to the Company's Registration Statement on Form F-10/A filed with the SEC on October 3, 2016 (File No. 333-213422))](https://www.sec.gov/Archives/edgar/data/1437424/000117184316012340/exh_71.htm) |
| 4.5 | Form of Warrant\* |
| 4.6 | Form of Warrant Agreement\* |
| 4.7 | Form of Subscription Receipt Agreement\* |
| 4.8 | Form of Rights Agreement\* |
| 4.9 | Form of Unit Agreement\* |
| 5.1 | [Opinion of Bennett Jones LLP](ex5-1.htm) |
| 5.2 | [Opinion of Katten Muchin Rosenman LLP](ex5-2.htm) |
| 23.1 | [Consent of Davidson & Company LLP](ex23-1.htm) |
| 23.2 | [Consent of Marcum LLP](ex23-2.htm) |
| 23.3 | [Consent of Bennett Jones LLP (included in Exhibit 5.1)](ex5-1.htm) |
| 23.4 | [Consent of Katten Muchin Rosenman LLP (included in Exhibit 5.2)](ex5-2.htm) |
| 24.1 | [Power of Attorney (included on signature page)](#aa_001) |
| 25.1 | Form T-1 Statement of Eligibility and Qualification of the Trustee under the Indenture for Debt Securities\*\* |
| 107 | [Calculation of Filing Fee Table](ex107.htm) |

---

\* If applicable, to be filed by an amendment to the registration statement or as an exhibit to a report filed on Form 6-K and incorporated by reference herein.

\*\* To be filed separately pursuant to Section 305(b)(2) of the Trust Indenture Act of 1939.

**Item 10. Undertakings.**

The undersigned registrant hereby undertakes:

(a) To
 file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To include any prospectus required by Section 10(a)(3) of the Securities Act;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the "Calculation of Filing Fee Tables" or "Calculation of Registration Fee" table, as applicable, in the effective registration statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement;

*Provided*, *however*, that Paragraphs (a)(1), (a)(2) and (a)(3) of this section do not apply if the registration statement is on Form S-1, Form S-3, Form SF-3 or Form F-3 and the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the registrant pursuant to section 13 or section 15(d) of the Exchange Act that are incorporated by reference in the registration statement, or, as to a registration statement on Form S-3, Form SF-3 or Form F-3, is contained in a form of prospectus filed pursuant to Rule 424(b) that is part of the registration statement.

(b) That,
 for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a
 new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be
 deemed to be the initial bona fide offering thereof.

(c) To
 remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the
 termination of the offering.

(d) To
 file a post-effective amendment to the registration statement to include any financial statements required by Item 8.A of Form 20-F
 at the start of any delayed offering or throughout a continuous offering. Financial statements and information otherwise required
 by Section 10(a)(3) of the Securities Act need not be furnished, *provided* that the registrant includes in the prospectus,
 by means of a post-effective amendment, financial statements required pursuant to this paragraph (d) and other information necessary
 to ensure that all other information in the prospectus is at least as current as the date of those financial statements. Notwithstanding
 the foregoing, with respect to registration statements on Form F-3, a post-effective amendment need not be filed to include financial
 statements and information required by Section 10(a)(3) of the Securities Act or Item 8.A of Form 20-F if such financial statements
 and information are contained in periodic reports filed with or furnished to the SEC by the registrant pursuant to section 13 or
 section 15(d) of the Exchange Act that are incorporated by reference in the Form F-3.

(e) That,
 for the purpose of determining liability under the Securities Act to any purchaser:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included in the registration statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5), or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii), or (x) for the purpose of providing the information required by section 10(a) of the Securities Act shall be deemed to be part of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering of such securities at that time shall be deemed to be the initial *bona fide* offering thereof. *Provided, however*, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such effective date; or

(f) That,
 for the purpose of determining liability of the registrant under the Securities Act to any purchaser in the initial distribution
 of the securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant
 to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities
 are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller
 to the purchaser and will be considered to offer or sell such securities to such purchaser:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule 424;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by the undersigned registrant;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant or its securities provided by or on behalf of the undersigned registrant; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(4) Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.

(g) The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the registrant's annual report pursuant to section 13(a) or section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

(h) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer, or controlling person of the registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question of whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

The undersigned registrant hereby undertakes to file an application for the purpose of determining the eligibility of the trustee to act under Section 310(a) of the Trust Indenture Act ("Trust Indenture Act") in accordance with the rules and regulations prescribed by the SEC under Section 305(b)(2) of the Trust Indenture Act.

**Signatures**

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form F-3 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Toronto, Ontario, Canada, on the 22nd day of January, 2026.

---

| | |
|:---|:---|
| **POET TECHNOLOGIES INC.** | **POET TECHNOLOGIES INC.** |
| By: | */s/ Suresh Venkatesan* |
| Name: | Suresh Venkatesan |
| Title: | Chairman and Chief Executive Officer |

---

**Power of Attorney**

Each person whose signature appears below hereby constitutes and appoints Suresh Venkatesan and Thomas Mika and each of them, individually, as his true and lawful attorneys-in-fact and agents, with full power of substitution and re-substitution, for him and in his name, place and stead in any and all capacities, in connection with this registration statement, including to sign in the name and on behalf of the undersigned, this registration statement and any and all amendments thereto, including post-effective amendments and registration statements filed pursuant to Rule 462 under the Securities Act of 1933, as amended, and to file the same, with all exhibits thereto, and other documents in connection therewith, with the Securities and Exchange Commission, granting unto such attorneys-in-fact and agents full power and authority to do and perform each and every act and thing requisite and necessary to be done in and about the premises, as fully to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or his substitute, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, as amended, this Registration Statement has been signed by the following persons in the capacities and on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| */s/ Suresh Venkatesan* | Chairman, Chief Executive Officer and Director | January 22, 2026 |
| Suresh Venkatesan | (*Principal Executive Officer*) |  |
| */s/ Thomas Mika* | Chief Financial Officer | January 22, 2026 |
| Thomas Mika | (*Principal Financial Officer and Principal Accounting Officer*) |  |
| */s/ Sohail Khan* | Director | January 22, 2026 |
| Sohail Khan |  |  |
| */s/ Theresa Lan Ende* | Director | January 22, 2026 |
| Theresa Lan Ende |  |  |
| */s/ Jean-Louis Malinge* | Director | January 22, 2026 |
| Jean-Louis Malinge |  | |
|  |  | |
| */s/ Glen Riley* | Director | January 22, 2026 |
| Glen Riley |  | |
|  |  | |
| */s/ Robert Tirva* | Director | January 22, 2026 |
| Robert Tirva |  | |

---

**AUTHORIZED REPRESENTATIVE**

Pursuant to the requirements of Section 6(a) of the Securities Act of 1933, the undersigned has signed this Registration Statement, solely in the capacity of the duly authorized representative of POET Technologies Inc. in the United States, on the 22nd day of January, 2026.

---

| | |
|:---|:---|
| **POET TECHNOLOGIES INC.** | **POET TECHNOLOGIES INC.** |
| By: | */s/ Suresh Venkatesan* |
| Name: | Suresh Venkatesan |
| Title: | Chief Executive Officer |

---

## Exhibit 5.1

**Exhibit 5.1**

---

| | |
|:---|:---|
| ![](ex5-1_001.jpg) | ![](ex5-1_002.jpg) |

---

January 22, 2026

POET Technologies Inc.

120 Eglinton Avenue East, Suite 1107

Toronto, ON M4P 1E2

---

| | |
|:---|:---|
| **Re:** | **POET Technologies Inc. – Registration Statement on Form F-3** |

---

We have acted as Ontario counsel to POET Technologies Inc. (the "**Corporation**") in connection with the preparation of an automatic shelf Registration Statement on Form F-3 (the "**Registration Statement**") under the *United States Securities Act of 1933*, as amended (the "**Act**"), relating to the potential issuance and sale by the Corporation of securities of the Corporation pursuant to one or more prospectus supplements (each, a "**Prospectus Supplement**") to the Registration Statement to be filed by the Corporation from time to time.

The Securities of the Corporation which may be offered under the Registration Statement include the following:

● common shares ()"**Shares** "),

● bonds, debentures, notes or other evidences of indebtedness of any kind, nature or description (collectively, "**Debt Securities** "),

● warrants to purchase Shares and warrants to purchase Debt Securities (collectively, the "**Warrants** "),

● subscription receipts convertible into Shares, Debt Securities, Warrants or Units ()"**Subscription Receipts** "),

● rights to purchase one or more of the other Securities (as hereinafter defined) ()"**Rights** "), and

● units comprised of one of more of the securities described above in any combination ()"**Units** ", together with the Shares, Debt Securities, Warrants, Subscription Receipts and Rights, the "**Securities** ").

We have examined originals or copies, certified or otherwise to our satisfaction of such documents and considered such questions of law as we considered necessary as a basis for our opinion, including the Registration Statement and resolutions of the board of directors of the Corporation approving the filing of the Registration Statement and the issuance of the Securities. In all such examinations, we have assumed (i) the genuineness of all signatures, the legal capacity of all individuals signing any documents, the authenticity of all documents submitted to us as originals, the conformity to authentic original documents of all documents submitted to us as copies, whether facsimile, photostatic, electronic, certified or otherwise, and (ii) the truthfulness of all facts set forth in the public records and in certificates of public officials.

We have also assumed that in connection with any Securities issued under the Registration Statement, (i) all required filings relating to, and any approvals for, the Registration Statement, any Prospectus Supplement or any related document, has been made and received prior to the issuance of any such Securities, (ii) any applicable agreement, including any warrant indenture, debt indenture, subscription receipt indenture, rights agreement, unit agreements, underwriting agreement or similar document (collectively, the "**Applicable Agreements**"), has been, or will be prior to the time of the issuance of the applicable Security, duly authorized, executed and delivered by the Corporation and any other party thereto and is enforceable against each such party thereto, and neither the execution and delivery of any such document by any party thereto nor the performance by any party of its obligations thereunder do, or will, violate or conflict with any applicable laws or the constating documents of such party or an requirement or restriction imposed by an court or government body having jurisdiction over such party. We have assumed that any Applicable Agreement entered into will be governed by and in conformity with the laws of the Province of Ontario.

Our opinion herein is limited to the laws of the Province of Ontario and the federal laws of Canada applicable therein now in effect (the "**Applicable Law**").

Based on and subject to the foregoing assumptions and qualifications we are of the opinion that:

1. With
 respect to the issuance of any Shares, including, without limitation, Shares issuable upon
 conversion or exercise of any other Securities that are convertible or exercisable into Shares,
 which may be offered pursuant to the Registration Statement, when (a) the issuance and sale
 of the Shares has been duly authorized by all necessary corporate action in conformity with
 the Corporation's constating documents (the "**Constating Documents** ")
 (as then in effect), and the *Business Corporations Act* (Ontario) (the "**OBCA** ")
 (as then in effect), and does not violate any Applicable Law or result in a default under
 or breach of any agreement or instrument binding upon the Corporation and complies with any
 requirement or restriction imposed by any court or governmental body of Canada or Ontario
 having jurisdiction over the Corporation; (b) the full consideration, determined to be adequate
 by the Corporation's board of directors, which is at least equal to the issue price
 of the Shares, has been received by the Corporation; and (c) if certificated, the certificates
 representing the Shares have been duly executed and delivered by the authorized signatories
 of the Corporation to the purchasers thereof against payment of the agreed-upon consideration
 therefor in the manner contemplated in the Applicable Agreement, Registration Statement or
 any Prospectus Supplement relating thereto, the Shares will be validly issued, fully paid,
 and non-assessable.

2. With
 respect to any Debt Securities which may be offered pursuant to the Registration Statement,
 when (a) the terms, issuance, and sale of the Debt Securities, and the Applicable Agreement
 relating to the Debt Securities and the Corporation's execution and delivery of such
 Applicable Agreement and the performance of its obligations thereunder, have been duly authorized
 by all necessary corporate action in conformity with the Constating Documents (as then in
 effect), and the OBCA (as then in effect), and do not violate any Applicable Law or result
 in a default under or breach of any agreement or instrument binding upon the Corporation
 and complies with any requirement or restriction imposed by any court or governmental body
 of Canada or Ontario having jurisdiction over the Corporation; (b) the full consideration,
 determined to be adequate by the Corporation's board of directors, for the Debt Securities
 has been received by the Corporation; and (c) the Applicable Agreement relating to the Debt
 Securities and, if certificated, the Debt Securities have been duly executed, countersigned,
 issued, and delivered by the authorized signatories of the Corporation in accordance with
 the Applicable Agreement relating to the Debt Securities to the purchasers thereof against
 payment of the agreed-upon consideration therefor in the manner contemplated in the Applicable
 Agreement, Registration Statement or any Prospectus Supplement relating thereto, such Debt
 Securities will be validly authorized, created and issued and the Debt Securities issued
 pursuant to the Applicable Agreement relating to the Debt Securities will be valid and binding
 obligations of the Corporation, enforceable against the Corporation in accordance with their
 terms, except to the extent that enforcement thereof may be limited by (i) bankruptcy, insolvency,
 reorganization, fraudulent conveyance, moratorium, or other similar laws now or hereafter
 in effect relating to creditors' rights generally, (ii) general principles of equity
 (regardless of whether enforceability is considered in a proceeding at law or in equity),
 and (iii) public policy considerations which may limit the rights of the parties to obtain
 further remedies.

![](ex5-1_003.jpg)

3. With
 respect to any Warrants which may be offered pursuant to the Registration Statement, when
 (a) the terms, issuance, and sale of the Warrants, including the authorization of the issuance
 and reservation (if applicable) of the Shares or Debt Securities to be issued upon exercise
 of the Warrants, and the Applicable Agreement relating to the Warrants and the Corporation's
 execution and delivery of such Applicable Agreement and the performance of its obligations
 thereunder, have been duly authorized by all necessary corporate action in conformity with
 the Constating Documents (as then in effect), and the OBCA (as then in effect), and do not
 violate any Applicable Law or result in a default under or breach of any agreement or instrument
 binding upon the Corporation and comply with any requirement or restriction imposed by any
 court or governmental body of Canada or Ontario having jurisdiction over the Corporation;
 (b) the full consideration, determined to be adequate by the Corporation's board of
 directors, for the Warrants has been received by the Corporation; and (c) the Applicable
 Agreement relating to the Warrants and, if certificated, the Warrants have been duly executed,
 countersigned, issued, and delivered by the authorized signatories of the Corporation in
 accordance with the Applicable Agreement relating to the Warrants to the purchasers thereof
 against payment of the agreed-upon consideration therefor in the manner contemplated in the
 Applicable Agreement, Registration Statement or any Prospectus Supplement relating thereto,
 the Warrants will be validly authorized, created and issued and the Warrants issued pursuant
 to the Applicable Agreement relating to the Warrants will be valid and binding obligations
 of the Corporation, enforceable against the Corporation in accordance with their terms, except
 to the extent that enforcement thereof may be limited by (i) bankruptcy, insolvency, reorganization,
 fraudulent conveyance, moratorium, or other similar laws now or hereafter in effect relating
 to creditors' rights generally, (ii) general principles of equity (regardless of whether
 enforceability is considered in a proceeding at law or in equity), and (iii) public policy
 considerations which may limit the rights of the parties to obtain further remedies.

4. With
 respect to any Subscription Receipts which may be offered pursuant to the Registration Statement,
 when (a) the terms, issuance, and sale of the Subscription Receipts, including the authorization
 of the issuance and reservation (if applicable) of the Shares or Debt Securities to be issued
 upon conversion to the Subscription Receipts, and the Applicable Agreement relating to the
 Subscription Receipts and the Corporation's execution and delivery of such Applicable
 Agreement and the performance of its obligations thereunder, have been duly authorized by
 all necessary corporate action in conformity with the Constating Documents (as then in effect),
 and the OBCA (as then in effect), and do not violate any Applicable Law or result in a default
 under or breach of any agreement or instrument binding upon the Corporation and comply with
 any requirement or restriction imposed by any court or governmental body of Canada or Ontario
 having jurisdiction over the Corporation; (b) the full consideration, determined to be adequate
 by the Corporation's board of directors, for the Subscription Receipts has been received
 by the Corporation; and (c) the Applicable Agreement relating to the Subscription Receipts
 and, if certificated, the Subscription Receipts have been duly executed, countersigned, issued,
 and delivered by the authorized signatories of the Corporation in accordance with the Applicable
 Agreement relating to the Subscription Receipts to the purchasers thereof against payment
 of the agreed-upon consideration therefor in the manner contemplated in the Applicable Agreement,
 Registration Statement or any Prospectus Supplement relating thereto, the Subscription Receipts
 will be validly authorized, created and issued and the Subscription Receipts issued pursuant
 to the Applicable Agreement relating to the Subscription Receipts will be valid and binding
 obligations of the Corporation, enforceable against the Corporation in accordance with their
 terms, except to the extent that enforcement thereof may be limited by (i) bankruptcy, insolvency,
 reorganization, fraudulent conveyance, moratorium, or other similar laws now or hereafter
 in effect relating to creditors' rights generally, (ii) general principles of equity
 (regardless of whether enforceability is considered in a proceeding at law or in equity),
 and (iii) public policy considerations which may limit the rights of the parties to obtain
 further remedies.

![](ex5-1_003.jpg)

5. With
 respect to any Units which may be offered pursuant to the Registration Statement, when (a)
 the terms and sale of the Units and the issuance of the Securities comprising the Units,
 including the authorization of the issuance and reservation (if applicable) of the Securities
 to be issued upon comprising the Units, and the Applicable Agreement relating to the Units,
 if any, and the Corporation's execution and delivery of such Applicable Agreement,
 if any, and the performance of its obligations thereunder, have been duly authorized by all
 necessary corporate action in conformity with the Constating Documents (as then in effect),
 and the OBCA (as then in effect), and do not violate any Applicable Law or result in a default
 under or breach of any agreement or instrument binding upon the Corporation and comply with
 any requirement or restriction imposed by any court or governmental body of Canada or Ontario
 having jurisdiction over the Corporation; (b) the full consideration, determined to be adequate
 by the Corporation's board of directors, for the Units has been received by the Corporation;
 and (c) the Applicable Agreement relating to the Units, if any, and, if certificated, the
 Securities comprising the Units have been duly executed, countersigned, issued, and delivered
 by the authorized signatories of the Corporation in accordance with the Applicable Agreement
 relating to the Units, if any, to the purchasers thereof against payment of the agreed-upon
 consideration therefor in the manner contemplated in such Applicable Agreement, Registration
 Statement or any Prospectus Supplement relating thereto, the Securities comprising the Units
 will be validly authorized, created and issued and the Securities comprising the Units issued
 pursuant to the Applicable Agreement relating to the Units will be valid and binding obligations
 of the Corporation, enforceable against the Corporation in accordance with their terms, except
 to the extent that enforcement thereof may be limited by (i) bankruptcy, insolvency, reorganization,
 fraudulent conveyance, moratorium, or other similar laws now or hereafter in effect relating
 to creditors' rights generally, (ii) general principles of equity (regardless of whether
 enforceability is considered in a proceeding at law or in equity), and (iii) public policy
 considerations which may limit the rights of the parties to obtain further remedies.

We hereby consent to the use of our name in, and the filing of this opinion as an exhibit to, the Registration Statement. In giving this consent, we do not thereby admit that we are in the category of persons whose consent is required under the Securities Act or the rules and regulations promulgated thereunder. The opinions expressed herein are given as at the date hereof and are based upon, and subject to, legislation and regulations in effect as of the date hereof. We hereby further consent to Katten Muchin Rosenman LLP, as United States counsel to the Corporation, relying on this opinion in connection with the delivery of their opinion with respect to the Securities which may be offered under the Registration Statement. We specifically disclaim any obligation, and make no undertaking to supplement our opinions herein, as changes in the law occur and facts come to our attention that could affect such opinions, or otherwise advise any person of any change in law or fact which may come to our attention after the date hereof.

Yours truly,

**BENNETT JONES LLP**

## Exhibit 5.2

**Exhibit 5.2**

---

| |
|:---|
| ![](ex5-2_001.jpg) |
| **525 W. Monroe Street**<br> **Chicago, IL 60661-3693**<br> **+1.312.902.5200 tel**<br> **katten.com..** |

---

January 22, 2026

POET Technologies Inc.

Suite 1107

120 Eglinton Avenue East

Toronto, Ontario, M4P 1E2, Canada

---

| | |
|:---|:---|
| **Re:** | **POET Technologies Inc.** |
|  | **<u>Registration Statement on Form F-3</u>** |

---

Ladies and Gentlemen:

We have acted as special U.S. counsel to POET Technologies Inc., a corporation organized under the Business Corporations Act (Ontario) (the "<u>Company</u>"), in connection with the preparation of an automatic shelf registration statement on Form F-3 (the "<u>Registration Statement</u>") filed by the Company with the Securities and Exchange Commission (the "<u>Commission</u>") on the date hereof pursuant to the Securities Act of 1933, as amended (the "<u>Act</u>"), with respect to the registration and public offering by the Company, from time to time, pursuant to Rule 415 under the Act, of an indeterminate number and amount of securities, consisting of the following:

(i) common shares, without par value, of the Company ("<u>Common Shares</u>");

(ii) debt securities of the Company ("<u>Debt Securities</u>");

(iii) warrants to purchase Common Shares and/or Debt Securities ("<u>Warrants</u>");

(iv) subscription receipts for Common Shares, Warrants (as hereinafter defined) or a combination of Common Shares and Warrants ("<u>Subscription Receipts</u>");

(v) rights to purchase one of more of the other Securities (as hereinafter defined) ("<u>Rights</u>"); and

(vi) units comprised of one or more of the securities described above in any combination ("<u>Units</u>").

The Common Shares, Debt Securities, Subscription Receipts, Rights, Warrants and Units, including to the extent one or more of the foregoing are also convertible or exchangeable for one or more other of the foregoing, are referred to collectively herein as the "<u>Securities</u>."

KATTEN MUCHIN ROSENMAN LLP<br>CENTURY CITY CHARLOTTE CHICAGO DALLAS HOUSTON LOS ANGELES<br> NEW YORK ORANGE COUNTY SHANGHAI WASHINGTON, DC<br>A limited liability partnership including professional corporations<br>LONDON: KATTEN MUCHIN ROSENMAN UK LLP<br>

---

| | |
|:---|:---|
|  | ![](ex5-2_001.jpg) |
| POET Technologies Inc.<br>January 22, 2026<br>Page 2 |  |

---

This opinion is being furnished in accordance with the requirements of Item 601(b)(5) of Regulation S-K under the Act in respect of the Warrants, the Rights and the Units.

In connection with this opinion, we have relied as to matters of fact, without investigation, upon certificates of public officials and officers of the Company. We have also relied, to the extent we have determined such reliance to be appropriate, without independent investigation and with the permission of Bennett Jones LLP, on the opinion of Bennett Jones LLP of even date herewith, as Ontario counsel to the Company, which is filed as Exhibit 5.1 to the Registration Statement. We have also examined originals or copies, certified or otherwise identified to our satisfaction, of such instruments, documents and records as we have deemed relevant and necessary to examine for the purpose of this opinion, including the Registration Statement.

In connection with this opinion, we have assumed at all applicable times the legal capacity of all natural persons, the accuracy and completeness of all documents and records that we have reviewed, the genuineness of all signatures, the due authority of the parties signing such documents, the authenticity of the documents submitted to us as originals and the conformity to authentic original documents of all documents submitted to us as certified, conformed or reproduced copies. We have assumed that the Company is, and at all times will be, duly organized and in good standing under the laws of Ontario and has or will have the corporate power and authority to enter into and to perform its obligations under and, in respect of, the Debt Securities, the Subscription Receipts, the Rights, the Warrants and the Units, and under and in respect of all agreements and instruments under which any such Securities shall be offered or issued, and with respect to documents executed or to be executed by parties other than the Company ("<u>Other Parties</u>"), we have assumed that such Other Parties had or will have the power and authority, corporate or other, to enter into and to perform all obligations thereunder and have also assumed the valid existence of such Other Parties, the due authorization by all requisite action, corporate or other, and the execution and delivery by such Other Parties of such documents and the validity and binding effect thereof on such Other Parties.

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| | |
|:---|:---|
|  | ![](ex5-2_001.jpg) |
| POET Technologies Inc.<br>January 22, 2026<br>Page 3 |  |

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In addition, we have assumed that: (i) the Registration Statement, and any amendments thereto (including post-effective amendments), will, to the extent applicable, have become effective under the Act, and such effectiveness shall not have been terminated or rescinded; (ii) a prospectus supplement and any required pricing supplement will have been timely filed with the Commission describing the Securities offered thereby; (iii) all Debt Securities, Subscription Receipts, Rights, Warrants, and Units will be issued and sold in compliance with applicable federal and state securities laws and in the manner stated in the Registration Statement, the applicable prospectus supplement and any applicable pricing supplement; (iv) a definitive purchase, underwriting or similar agreement with respect to any Warrants, Rights or Units offered will be duly authorized and validly executed and delivered by the Company and the other parties thereto; (v) any Securities issuable upon conversion, exchange, redemption or exercise of any other Securities being offered will be duly authorized, created and, if appropriate, reserved for issuance upon such conversion, exchange, redemption or exercise; (vi) there will be no terms or provisions contained in any agreement pursuant to which any Securities are to be issued that would affect the opinions rendered herein; (vii) any agreements pursuant to which Debt Securities or Subscription Receipts shall be offered or issued will be governed by Canadian law or the laws of a province thereof, and all other agreements pursuant to which any other Securities shall be offered or issued shall be governed by New York law; and (viii) all actions are taken by the Company (A) so as not to violate any applicable law or result in a default under or breach of any agreement or instrument binding upon the Company and (B) so as to comply with any requirement or restriction imposed by any court or governmental body having jurisdiction over the Company.

Our opinions set forth below are subject to (i) the effects of bankruptcy, insolvency, reorganization, receivership, moratorium or other laws affecting the rights and remedies of creditors generally (including, without limitation, the effect of statutory and other laws regarding fraudulent conveyances, fraudulent transfers and preferential transfers), (ii) the exercise of judicial discretion and the application of principles of equity, good faith, fair dealing, reasonableness, conscionability and materiality (regardless of whether the enforceability of the applicable Securities is considered in a proceeding at law or in equity), (iii) the possible unenforceability of indemnity, exculpation and contribution provisions, (iv) the effect and possible unenforceability of choice of law provisions, (v) the possible unenforceability of provisions purporting to waive rights or defenses where such waiver is against public policy, (vi) the possible unenforceability of provisions purporting to exonerate any party for negligence or malfeasance, or to negate any remedy of any party for fraud, (vii) the possible unenforceability of forum selection clauses, (viii) the possible unenforceability of provisions permitting modification of an agreement only in writing, and (ix) the possible unenforceability of provisions purporting to allow action without regard to mitigation of damages.

Insofar as the opinion in paragraph (2) below relates to the valid issuance of the Rights, (i) our opinion addresses the corporate procedures used in connection with the issuance of the Rights to acquire one or more of the other Securities, and not any particular provision of the Rights or the applicable Rights Agreement (as hereinafter defined), and it is not settled whether the invalidity of any particular provision of a rights agreement or of rights issued thereunder would result in invalidating such rights in their entirety; (ii) our opinion does not address whether a court of competent jurisdiction may require the Company's board of directors (the "Board") to redeem, terminate or take any other action with respect to the Rights or the applicable Rights Agreement in the future based on the facts and circumstances then existing; and (iii) we have assumed that members of the Board will have acted in a manner consistent with their fiduciary duties as required under applicable law in adopting the applicable Rights Agreement.

On the basis of the foregoing and the other matters set forth herein, we hereby are of the opinion that:

(1) <u>Warrants</u>. With respect to any Warrants, to the extent such Warrants and the Warrant Agreement (as hereinafter defined) are governed by New York law, when (a) the Board has taken all necessary corporate action to approve the issuance and terms of such Warrants, the terms, issuance, execution and delivery of any warrant agreements and/or warrant indenture governing the Warrants (collectively, "<u>Warrant Agreements</u>"), and the terms of the offering thereof and related matters, (b) to the extent applicable, the Warrant Agreements have been duly authorized and validly executed and delivered by all of the parties thereto, and (c) such Warrants have been duly executed, attested, issued and delivered by duly authorized officers of the Company in accordance with (i) the provisions of any applicable Warrant Agreement and (ii) any applicable definitive purchase, underwriting or similar agreement approved by the Board and duly executed and delivered by the Company, or upon the conversion, exercise, redemption or exchange of other Securities in accordance with the terms of such Securities or the instrument governing such Securities providing for such conversion, exercise, redemption or exchange as approved by the Board, upon payment of the consideration therefor as provided therein, such Warrants and the related Warrant Agreements will constitute valid and binding obligations of the Company.

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| | |
|:---|:---|
|  | ![](ex5-2_001.jpg) |
| POET Technologies Inc.<br>January 22, 2026<br>Page 4 |  |

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(2) <u>Rights</u>. With respect to the Rights to be issued, to the extent such Rights and the Rights Agreement (as hereinafter defined) are governed by New York law, when (a) the Board has taken all necessary corporate action to approve the issuance and terms of such Rights, the terms, issuance, execution and delivery of any rights agreement governing the Rights (collectively, "<u>Rights Agreements</u>"), and the terms of the offering thereof and related matters, (b) to the extent applicable, the Rights Agreements have been duly authorized and validly executed and delivered by all of the parties thereto, and (c) any certificates representing such Rights have been duly executed, attested, issued and delivered by duly authorized officers of the Company in accordance with the provisions of any applicable Rights Agreement, upon payment of the consideration therefor provided therein, the Rights and the related Rights Agreement will constitute valid and binding obligations of the Company.

(3) <u>Units</u>. With respect to any Units, to the extent such Units are governed by a unit agreement (a "<u>Unit Agreement</u>") and such Units, the related Unit Agreement (as hereinafter defined) and the Securities underlying such Units are governed by New York law, when (a) the Board has taken all necessary corporate action to approve the issuance and terms of such Units, the terms, issuance, execution and delivery of the Unit Agreement governing such Units, and the terms of the offering thereof and related matters, (b) to the extent applicable, the Unit Agreement has been duly authorized and validly executed and delivered by all of the parties thereto, (c) such Units have been duly executed, attested, issued and delivered by duly authorized officers of the Company in accordance with (i) the provisions of any applicable Unit Agreement and (ii) any applicable definitive purchase, underwriting or similar agreement approved by the Board and duly executed and delivered by the Company, or upon the conversion, exercise, redemption or exchange of other Securities in accordance with the terms of such Securities or the instrument governing such Securities providing for such conversion, exercise, redemption or exchange as approved by the Board, and (d) the Securities to be issued as part of such Units have been duly and validly authorized and reserved for issuance, upon payment of the consideration therefor as provided therein, such Units and the related Unit Agreement will constitute valid and binding obligations of the Company.

Our opinions expressed above are subject to all of the limitations and qualifications contained herein. Our opinions expressed above are limited to the laws of the State of New York, and we do not express any opinion herein concerning any other law. We express no opinion herein concerning any Common Shares, Debt Securities or Subscription Receipts, in each case, individually or as part of, or as issuable upon exercise of or otherwise pursuant to, any Warrants, Rights or Units, which we assume will be governed by Canadian law or the laws of a province thereof. In addition, we express no opinion herein concerning any statutes, ordinances, administrative decisions, rules or regulations of any county, town, municipality or special political subdivision (whether created or enabled through legislative action at the federal, state or regional level). This opinion is given as of the date hereof and as of the effective date of the Registration Statement, and we assume no obligation to advise you of changes that may thereafter occur or be brought to our attention.

We hereby consent to the filing of this opinion with the Commission as Exhibit 5.2 to the Registration Statement. We also consent to the reference to our firm under the caption "Legal Matters" in the prospectus constituting a part of the Registration Statement. In giving this consent, we do not thereby admit that we are experts within the meaning of Section 11 of the Act or included in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission.

Sincerely,

/s/ KATTEN MUCHIN ROSENMAN LLP

KATTEN MUCHIN ROSENMAN LLP

## Exhibit 23.1

**Exhibit 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in the Registration Statement of POET Technologies Inc. on Form F-3, of our report dated March 31, 2025, with respect to our audit of the consolidated financial statements of POET Technologies Inc. as of December 31, 2024, and for the year ended December 31, 2024, and our report dated March 31, 2025 with respect to our audit of internal control over financial reporting of POET Technologies Inc. as of December 31, 2024 appearing in the Annual Report on Form 20-F of POET Technologies Inc. for the year ended December 31, 2024. We also consent to the reference to our firm under the heading "Experts" in the Prospectus, which is part of this Registration Statement.

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| | |
|:---|:---|
|  | /s/ DAVIDSON & COMPANY LLP  |
| Vancouver, Canada | Chartered Professional Accountants |
| January 21, 2026 |  |

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## Exhibit 23.2

**Exhibit 23.2**

**INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM'S CONSENT**

We consent to the incorporation by reference in this Registration Statement on Form F-3 of our report dated March 15, 2024 relating to the consolidated financial statements appearing in the Annual Report on Form 20-F of POET Technologies Inc. for the year ended December 31, 2024. We also consent to the reference to us under the heading "Experts" in such Registration Statement.

/s/ Marcum llp

Hartford, CT

January 21, 2026

## Ex-Filing

?xml version='1.0' encoding='ASCII'?

**Exhibit 107**

**Calculation of Filing Fee Tables**

**Form F-3ASR**

(Form Type)

**POET Technologies, Inc.**

(Exact Name of Registrant as Specified in its Charter)

**Table 1: Newly Registered and Carry Forward Securities** 

---

| | | | | | | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Security**<br> **Type** | **Security**<br> **Class**<br> **Title** | **Fee**<br> **Calculation**<br> **or Carry**<br> **Forward**<br> **Rule** | **Amount**<br> **Registered** |  | **Proposed**<br> **Maximum**<br> **Offering**<br> **Price Per**<br> **Unit** |  | **Maximum**<br> **Aggregate**<br> **Offering**<br> **Price** |  | **Fee**<br> **Rate** |  | **Amount of**<br> **Registration**<br> **Fee** |  | **Carry**<br> **Forward**<br> **Form**<br> **Type** | **Carry**<br> **Forward**<br> **File**<br> **Number** | **Carry**<br> **Forward**<br> **Initial**<br> **effective**<br> **date** | **Filing Fee**<br> **Previously**<br> **Paid In**<br> **Connection**<br> **with<br> Unsold**<br> **Securities to**<br> **be Carried**<br> **Forward** |
| Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities | Newly Registered Securities |
| Fees to Be Paid | Equity | Common Shares, without par value | 457(r) |  | (1) |  | (1) |  | (2) |  | (3) |  | (3) |  |  |  |  |
| Fees to Be Paid | Debt | Debt Securities | 457(r) |  | (1) |  | (1) |  | (2) |  | (3) |  | (3) |  |  |  |  |
| Fees to Be Paid | Other | Warrants | 457(r) |  | (1) |  | (1) |  | (2) |  | (3) |  | (3) |  |  |  |  |
| Fees to Be Paid | Other | Subscription Receipts | 457(r) |  | (1) |  | (1) |  | (2) |  | (3) |  | (3) |  |  |  |  |
| Fees to Be Paid | Other | Rights | 457(r) |  | (1) |  | (1) |  | (2) |  | (3) |  | (3) |  |  |  |  |
| Fees to Be Paid | Other | Units | 457(r) |  | (1) |  | (1) |  | (2) |  | (3) |  | (3) |  |  |  |  |
|  | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts | Total Offering Amounts |  |  |  | $0 | (1)(2)(3) |  |  | $0 |  |  |  |  |  |
|  | Total Fees Previously Paid | Total Fees Previously Paid | Total Fees Previously Paid | Total Fees Previously Paid |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Total Fee Offsets | Total Fee Offsets | Total Fee Offsets | Total Fee Offsets |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Net Fee Due | Net Fee Due | Net Fee Due | Net Fee Due |  |  |  |  |  |  |  | $0 |  |  |  |  |  |

---

(1) The
 amount to be registered consists of an indeterminate amount of the registrant's common shares, debt securities, warrants,
 subscription receipts, rights and/or units. In addition, an indeterminate number of securities that may be issued upon
 exercise, settlement, conversion or exchange of any offered securities, or pursuant to anti-dilution adjustments, is being
 registered. Separate consideration may or may not be received for securities that are issuable on exercise, conversion or exchange
 of other securities. Any securities registered hereunder may be sold separately or together with other securities registered
 hereunder.

(2) The
 proposed maximum offering price per security will be determined from time to time by the registrant in connection with the issuance
 by the registrant of the securities registered hereunder.

(3) In
 accordance with Rules 456(b) and 457(r) under the Securities Act of 1933, as amended (the "Securities Act"), the
 registrant is deferring payment of all registration fees, which will be based on the fee payment rate in effect on the date of such
 fee payment and will be paid on a pay-as-you-go basis.