March 2016 Corporate Update
March 28, 2016 – Ottawa, Canada & San Jose, USA- Edgewater Wireless Systems Inc (YFI; TSX.V), the manufacturer of multi-channel WiFi3™ technology for high-density Wi-Fi and IOT applications, has recently published quarterly results which are available on SEDAR. The Management and Board of Directors of Edgewater would like to take the opportunity to update our shareholders, followers and company supporters on our overall progress and path forward for Edgewater Wireless.
Accomplishments
The last 8 months to today have been truly exciting for Edgewater Wireless as we continue to build momentum for our WiFi3™ technology. The team is progressing the business rapidly as the exponential demand for more capacity and the ever increasing challenges of mitigating WiFi interference are driving demand for wireless solutions that advance beyond the technical capabilities of even the most popular “state-of-the-art” 802.11ac access point technology available today.
The demand for innovation in WiFi technology was highlighted throughout our participation at Mobile World Congress 2016 in Barcelona, Spain. While at Mobile World Congress, our team met with some of the world’s largest telco’s and telecom manufacturers. More importantly, many of these companies sought out Edgewater Wireless to learn more about our technology advantage and our innovative development path for multi-channel WiFi. Mobile World Congress was an overwhelming success for Edgewater Wireless. The company has entered the next phase of industry engagement and interest and we will provide updates on business opportunities and outcomes when and as they mature.
In Q3 2016 and Q4 2016, we have invested heavily in establishing Edgewater Wireless as a WiFi innovation company bringing disruptive technology to the wireless market. Notably, we have made an extensive effort in the latter half of 2015 and early 2016 to build relationships with strategic technology and equipment manufacturing partners who recognize the inherent advantages of our multi-channel WiFi3 technology.
Understanding WiFi3™
One of the challenges of introducing innovative technology to the market is achieving recognition by industry experts and educating prospective customers and partners on what the technology does for the market and how it is different from existing solutions. This has undoubtedly been the company’s most challenging hurdle. WiFi3™ technology is fundamentally different from the traditional approach to WiFi. WiFi3™’s advanced capabilities to deliver multiple concurrent channels on the same wireless radio and up to 12 channels in 2.4GHz and 5GHz has never been achieved before.
Demonstrating the WiFi3™ advantage has been a major focus for our team over the last 6 months. During the previous quarter, Edgewater Wireless launched multiple demonstrations and pilots of WiFi3™ technology. The results of this effort have been beneficial and and we are pleased to say Edgewater is currently engaged with no less than 7 potential OEM partners – including many industry-recognized global brands. Innovation, coupled with our extensive series of wireless patents, is drawing significant industry attention and we are rapidly transitioning from development stage to growth stage in FY2016.
The Path Forward
The efforts of our entire team at Edgewater Wireless have positioned the company for rapid revenue growth in 2016 as we continue to build the business by our expanding network of partners, agents and prospective customers. On that note, we are continuing to ramp up our relationship with our Fortune 500 partner as well as Raretech in India. Our relationship and opportunities with Zinwave also continue to grow on a global scale.
At Edgewater Wireless, our path forward also includes engineering advancements of WiFi3™ technology while continuing to expand our patent portfolio. As a WiFi innovation company, Edgewater Wireless continues to focus on and invest in developing and innovating Wi-Fi for high-density deployments.
The company is also pleased to announce, subject to exchange approval, the grant of options to purchase 100,000 common shares under Edgewater Wireless to be made available to strategic partners of the company for achieving milestone commitments. Each option has a strike price of $0.27 vesting provisions and a ten (10) year validity.
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 Wi-Fi technology with its wide-band, multi-channel radio and high-capacity Access Point solutions, and delivering next generation Wi-Fi, today.
The best solution for High-Density Wi-Fi 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 Wi-Fi 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.