TORONTO, ONTARIO and STORRS, CONNECTICUT--(Marketwired - July 23, 2013) - OPEL Technologies Inc. (TSX VENTURE:OPL) (OTCQX:OPELF) ("OPEL" or "the Company"), announces that it has filed Articles of Amendments under the Business Corporation Act (Ontario) dated July 23, 2013, thereby changing its name to POET Technologies Inc. There is no consolidation of capital and no exchange of shares is required.

Trading under new name - It is anticipated that trading on the TSX Venture Exchange under the new name will commence on July 25, 2013, subject to confirmation by TSX Venture Exchange bulletin. The Stock Symbol "OPL" will change to "PTK" and the CUSIP and ISIN numbers have been changed to 73044W104 and CA 73044W1041 respectively. The Stock Symbol for trading in the U.S. on the OTCQX has changed from "OPELF" to "POETF".

Purpose - The purpose of the name change is to better reflect the Company's business and highlight the POET platform. "The name change to POET Technologies exemplifies the scope of the Company's current focus and is consistent with Management's efforts to monetize the POET technology and provide added value for shareholders," said Executive Director, Peter Copetti.

Semiconductor Technology - The POET (Planar Opto Electronic Technology) Platform is a patented semiconductor fabrication process that uses gallium arsenide technology to combine electronic and optical elements on a single integrated circuit, intended to enable semiconductor manufacturers to make microchips that are far faster and more energy efficient than current silicon devices, and far less expensive to produce.

Website - In conjunction with the name change, the Company is redesigning its website and has changed the domain name. The new website at  www.poet-technologies.com is expected to go live on Friday, July 26, 2013.