February 10, 2017 – Ottawa, Canada – “Edgewater Wireless Systems Inc (“EWSI” or by its trading symbol “YFI”) would like to update shareholders that after the close of the TSX:V on Friday, February 3, 2017, Edgewater Computer Systems Inc. (“ECSI”) sold 4 million shares of their holdings of TSX:V YFI to a group of private investors as part of ECSI’s previously announced strategy to raise growth capital. It is our understanding that many of the buyers of these shares are existing EWSI shareholders. The transaction has subsequently been confirmed through SEDI.
“I am pleased that ECSI was able to conclude a deal with a strongly supportive group of Edgewater Wireless investors,” said Duane Anderson, CTO of Edgewater Wireless and President of ECSI. “I’m very excited for Edgewater Wireless and remain deeply committed to the company. I plan to hold my personal shares in anticipation of a bright future for the company.”
Edgewater Wireless has also been advised that Edgewater Computer Systems and Duane Anderson will not engage in any further sales of Edgewater Wireless shares for the next six (6) months and will undertake to limit sales of shares in the subsequent six (6) months.
Andrew Skafel, President and CEO of Edgewater Wireless has said “we are happy that Edgewater Computer Systems has completed their program for raising growth capital and selling shares. We have enjoyed a long and productive relationship with Computer Systems and look forward to building on the strengths of both organizations through mutual collaboration.”
Edgewater Wireless Contact:
Matt Massey
VP, Marketing
T: +1 613-797-9628
E: [email protected]
W: www.edgewaterwireless.com
About Edgewater Wireless Systems Inc.:
Edgewater Wireless develops and commercializes leading edge technologies and intellectual property for the communications market. Edgewater Wireless delivers advanced product solutions designed to meet the high-density, high quality of service (QoS) and high-reliability needs of service providers and their customers. Leveraging over twenty (20) patents, Edgewater’s WiFi3™ is redefining WiFi technology with its wide-band, multi-channel radio and high-capacity Access Point solutions, and delivering next generation WiFi, today.
The best solution for High-Density WiFi networks, Edgewater Wireless WiFi3™ powered access point products enable innovative service providers to plan, build and deploy reliable, high-capacity services (like VoWiFI) for high-density wireless data demand in any environment.
Do more with less! Fewer access points delivering high quality service at a lower overall deployment cost make our patented WiFi3™ technology the right choice for your next WiFi network.
Explore the evolution of Wi-Fi at 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.