OTTAWA, Ontario: Edgewater Wireless Systems Inc. (TSX-V: YFI) (OTC: KPIFF) (the “Company” or “Edgewater Wireless”) announces that it proposes to make an application to the TSX Venture Exchange (the “TSXV”) to extend the expiry date of outstanding share purchase warrants which entitle the holders to acquire 8,330,000 common shares of the Company (the “Warrants”).

The Warrants were issued pursuant to a non-brokered private placement that closed in two tranches. An aggregate of 7,830,000 Warrants were issued in the first tranche of the private placement, which closed on December 20, 2023 (the “2023 Warrants”). An aggregate of 500,000 Warrants were issued in the second tranche of the private placement, which closed on February 26, 2024 (the “2024 Warrants”). Each 2023 Warrant and 2024 Warrant entitled the holder to purchase one common share of the Company at an exercise price of $0.10 for a two year period. The original expiry date of the 2023 Warrants is December 20, 2025 and the original expiry date of the 2024 Warrants is February 26, 2026. The Company proposes to extend the expiry dates of the 2023 Warrants and the 2024 Warrants by an additional 12 months, such that the 2023 Warrants will expire on December 20, 2026 and the 2024 Warrants will expire on February 26, 2027. All other terms of the 2023 Warrants and the 2024 Warrants will remain the same. None of the 2023 Warrants and the 2024 Warrants have been exercised to date. The warrant extension remains subject to approval of the TSXV.

About Edgewater Wireless

We make Wi-Fi. Better.

Edgewater Wireless delivers unmatched Wi-Fi QoS-bar none-by intelligently mitigating congestion, managing spectrum allocation in real-time, and autonomously reconfiguring channel and link density-driving economic gains for service providers and their customers through reduced churn, improved efficiency, and high-performance connectivity in dense environments.

Redefining Wi-Fi from the silicon up, Edgewater’s patented, AI-powered Spectrum Slicing platform-delivered through the PrismIQ™ product family-breaks the limits of legacy Wi-Fi by enabling multiple concurrent channels in a single band. Wi-Fi Spectrum Slicing delivers 10x performance and up to 50% lower latency, even for legacy devices. With 26 patents and a fabless model, Edgewater is transforming the economics of Wi-Fi for service providers, OEMs, and enterprises-powering scalable, standards-aligned/leading connectivity across residential, enterprise, and Industrial IoT markets. A Silicon Catalyst portfolio company, Edgewater is building the intelligent wireless foundation for the next era of global connectivity.

Visit https://edgewaterwireless.com

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.

Fonte: Business Wire