Edgewater has announced that it has closed its private placement on Investing.com

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OTTAWA, Ontario–( BUSINESS WIRE )–Edgewater Wireless Systems Inc. (TSX-V: YFI ) (OTC: KPIFF ) (of Company Or Edgewater Wireless) is pleased to announce the closing of its previously announced non-brokered private placement. Personal position). Pursuant to the private placement, the company issued a total of 38,300,000 units (in 2016). rooms) for a total revenue of $1,915,000 at a price of $0.05. Please see Company News for December 6, 2024, December 13, 2024 and December 16, 2024.

Each unit holds a common share in the company’s capital (a Common share) and a joint purchase order (a Warranty). Each warrant is exercisable for two years from the date of grant and entitles the holder to purchase one additional common share at $0.08.

The Company intends to use the net proceeds from the Private Placement for product marketing and general working capital. Depending on the growth of the business, the firm may reallocate the proceeds from the private placement as needed.

In connection with the closing of the private placement, the Company paid the prospectors an aggregate of $17,150 in cash, issued 1,533,000 shares of common stock and issued a total of 2,314,000 acquirer warrants to certain prospectors. Each acquisition warrant will vest for two years from the date of issuance and will entitle the holder to purchase an additional share of common stock at $0.08.

All warrants issued in connection with the Private Placement will be subject to a statutory vesting period of four months from the date of issuance in accordance with applicable securities laws and TSX Venture Exchange policies.

The securities issued pursuant to the private placement have not been registered under the US Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or exemption from registration requirements.

According to multilateral instrument 61-101 Protection of minority security holders in special transactions (MI 61-101) The Company recommends that certain directors and officers of the Company participate in a private placement for aggregate proceeds of $150,000 and be considered related parties of the Company. Each related party of the Company is considered a related party transaction for purposes of MI 61-101 and TSXV Policy 5.9. Protection of minority security holders in special transactions. The Company shall treat as fair market value those that are exempt from the formal valuation requirements in MI 61-101 section 5.5(a) and the minority shareholder approval requirements in MI 61-101 section 5.7(1)(a). He trusts. The participation of related parties does not exceed 25% of the company’s market capitalization.

About Edgewater Wireless

We do Wi-Fi. better than.

Edgewater Wireless (www.edgewaterwireless.com) is an industry leader in innovative spectrum fragmentation technology for the residential and commercial markets. We develop advanced Wi-Fi silicon solutions, access points and IP licensing designed to meet the high-density and high-quality service needs of service providers and their customers. With 26 issued patents, Edgewater’s In-band Multi-Channel Wi-Fi technology revolutionizes Wi-Fi and delivers the next generation of Wi-Fi today.

Edgewater physical layer Spectrum Slicing It allows a frequency band to be split or broken up to allow multiple radios to operate in a given area. Think about it Spectrum Slicing It’s like going from a one-lane road to a multi-lane highway, regardless of Wi-Fi technology. A recently completed proof-of-concept (PoC) with a major Tier 1 service provider showed a 7- to 18-fold improvement in performance in 75% of homes surveyed. Interestingly, homes with more appliances saw the biggest improvements.

For more information, visit www.edgewaterwireless.com.

Neither the TSX Venture Exchange nor its providers of regulatory services (as such term is defined in the policies of the TSX Venture Exchange) accept responsibility for its accuracy or omission.

Forward-looking statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any words such as “expects”, “expects”, “may”, “will”, “should”, “believe” and similar expressions is intended to identify forward-looking information or statements. Although the Company believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on such forward-looking statements and information because the Company gives no assurance that they will. correct. By their nature, such forward-looking information is subject to various risks and uncertainties, which may cause the Company’s actual results and experience to differ materially from anticipated results or expectations. These risks and uncertainties include the use of proceeds from the private placement, access to capital markets, market forces, competition from new and existing companies and regulatory conditions. Readers are cautioned not to place undue reliance on forward-looking information provided as of the date of this news release and not to use forward-looking information or financial statements for anything other than their intended purpose. The Company undertakes no obligation to publicly update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

Check out the source version at businesswire.com: https://www.businesswire.com/news/home/20241231760528/am/

Edgewater Wireless Contacts:
Andrew Schaffel, President and CEO
E: andrews@edgewaterwireless.com

Bill Mitoulas, Investor Relations
E: ir@edgewaterwireless.com
T: +1.416.479.9547

www.edgewaterwireless.com

Source: Edgewater Wireless Systems Inc.