OTTAWA, Ontario, Canada – March 24, 2023 – Edgewater Wireless Systems Inc. (TSX-V: YFI) (the “Company” or “Edgewater Wireless”) announces that, further to its news release dated March 16, 2023, the TSX Venture Exchange has approved the extension to the expiry dates of an aggregate of 17,224,633 outstanding share purchase warrants, as described below.
The Company currently has an aggregate of 6,985,752 warrants outstanding that were issued in two tranches of a private placement that closed on March 30, 2021 and April 26, 2021 (the “March Warrants”). The expiry dates of the March Warrants have been extended by 12 months from their original expiry date, such that 6,316,405 March Warrants will expire on March 30, 2024 and 669,347 March Warrants will expire on April 26, 2024. Each March Warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.23 per share. All other terms of the March Warrants will remain the same.
The Company currently has an aggregate of 10,238,881 warrants outstanding that were issued in two tranches of a private placement that closed on April 1, 2021 and April 26, 2021 (the “April Warrants”). The expiry dates of the April Warrants have been extended by 12 months from their original expiry date, such that 9,681,189 April Warrants will expire on April 1, 2024 and 557,692 April Warrants will expire on April 26, 2024. Each April Warrant entitles the holder to purchase one common share in the capital of the Company at a price of $0.23 per share. All other terms of the April Warrants will remain the same.
About Edgewater Wireless
We make Wi-Fi. Better.
Edgewater Wireless is the industry leader in innovative Spectrum Slicing technology for residential and commercial markets. We develop advanced Wi-Fi silicon solutions, Access Points, and IP licensing designed to meet service providers’ and their customers’ high-density and high-quality-of-service needs. With 26 granted patents, Edgewater’s Multi-Channel, Single Radio (MCSR) technology revolutionizes Wi-Fi, delivering next-generation Wi-Fi today.
Edgewater’s physical layer Spectrum Slicing allows a frequency band to be divided, or sliced, to enable more radios to operate in a given area. Think of Spectrum Slicing like moving from a single-lane road to a multi-lane highway — regardless of Wi-Fi technology. The recently completed Proof of Concept (PoC) and Pilot with a major Tier 1 Service Provider showed 7 to 18 times performance gains in 75% of homes surveyed. Interestingly, homes with the most devices saw the most significant improvements.
For more information, visit www.edgewaterwireless.com.
Edgewater Wireless Contacts:
Andrew Skafel, President and CEO
E: andrews@edgewaterwireless.com
Bill Mitoulas, Investor Relations
T: +1.416.479.9547
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.