In every technology innovation, multi-channel has been proven to be superior to single-channel
February 18, 2021 – Ottawa, Canada – Edgewater Wireless Systems Inc. (YFI; TSX.V) (OTCQB: KPIFF), the industry leader in Wi-Fi Spectrum Slicing technology for residential and commercial markets, is pleased to announce the cease trade order (CTO) issued by the Ontario Securities Commission (OSC) on October 15, 2020, has been revoked. Trading in the Company’s shares was suspended by the TSX Venture Exchange (TSXV) due to the CTO, and the Company has applied to the TSXV to have trading reinstated. Subject to TSXV approval, reinstatement of trading in Edgewater’s shares is anticipated shortly.
The Company would like to thank its shareholders and supporters for their patience during the CTO period.
According to the Wireless Broadband Alliance (WBA), over 13 billion Wi-Fi devices are in use[1] today. With over 4 billion new products shipped per year[2], the growth and densification continue to increase, and 5G promises to deliver wireless connectivity for countless more devices. As convergence between Wi-Fi and 5G grows, the efficient use of spectrum underpins the future of wireless communications.
“The current single-channel physical layer approach inadequately caters for this exponential growth in demand. We firmly believe, with evidence, that our patented multi-channel at the physical layer increases capacity for Wi-Fi usage today — and in the future — as it increases exponentially,” Said Andrew Skafel, President and CEO of Edgewater Wireless. “Particularly with the convergence of Wi-Fi and 5G, we believe Edgewater’s patented Spectrum Slicing approach offers service providers a clear path forward.”
With the CTO lifted, the Company plans to continue to pursue opportunities to grow, expand and monetize its Intellectual Property portfolio and silicon solutions via partnerships and licensing. As we advance, the Company will continue to explore opportunities to raise the capital necessary to finance ongoing operations and provide future growth.
The private placement announced on July 7, 2020, was withdrawn from the market.
About Edgewater Wireless
We make Wi-Fi. Better.
Edgewater Wireless (www.edgewaterwireless.com) 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 the high-density and high quality-of-service needs of service providers and their customers. With 24+ patents, Edgewater’s Multi-Channel, Single Radio (MCSR) technology revolutionizes Wi-Fi, delivering next-generation Wi-Fi today.
For more information, visit www.edgewaterwireless.com or www.aera.io.
###
Edgewater Wireless Contact: Andrew Skafel, President and CEO
E: [email protected]
T: +1 613-271-3710
W: www.edgewaterwireless.com
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 of the words “expect”, “anticipate”, “continue”, “estimate”, “objective”, “ongoing”, “may”, “will”, “project”, “should”, “believe”, “plans”, “intends” and similar expressions are intended to identify forward-looking information or statements. Although Edgewater Wireless 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 the forward looking statements and information because Edgewater Wireless can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause Edgewater Wireless’ actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to access to capital markets, market forces, competition from new and existing companies and regulatory conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. Edgewater Wireless undertakes no obligation to update publicly or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by law.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
[1] https://www.wballiance.com/wp-content/uploads/2019/05/Edgar-Figueroa-Wi-Fi-Alliance.pdf
[2] https://www.wballiance.com/wp-content/uploads/2019/05/Edgar-Figueroa-Wi-Fi-Alliance.pdf