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Edgewater Wireless (TSXV:YFI) has announced a non-brokered private placement

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The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 15 million units priced at $0.10 per unit. Each unit consists of 1 share and one-half a warrant, with each full warrant exercisable at $0.20 for 24 months.

Additional Information:

Company: Edgewater Wireless Systems Inc.
Website: http://www.edgewaterwireless.com
Stock Symbol: TSXV: YFI
Date Published: May 10, 2019
Transcript: Available

Video Transcript:

I’m Erica James for Investmentpitch Media

Edgewater Wireless Systems Inc. has announced a non-brokered private placement.

With a rich patent portfolio consisting of more than 20 patents, and some of the world’s most talented engineers, Edgewater Wireless is the industry leader in innovative WiFi technology for residential and commercial markets.

The company’s WiFi3™ technology delivers up to 50x greater throughput versus traditional WiFi and dramatically lowers network infrastructure investment.

Following the release of the latest quarter financials, which showed 47% quarter-on-quarter growth, with revenues up 802% over the 3rd quarter of 2018, Andrew Skafel, President and CEO, stated: “This has been a pivotal quarter for our company. We not only increased revenues and continued our growth trajectory upward, but our activities with customers and industry partners diversified and generated repeat and recurring orders, indicating a heightened level of operational maturity. Our team has done a phenomenal job enhancing our technology, promoting our thought leadership and developing our business to include moving into the residential WiFi sector. We are all eager to keep the momentum going.”

The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to 15 million units priced at $0.10 per unit.

Each unit consists of 1 share and one-half a warrant, with each full warrant exercisable at $0.20 for 24 months.

The offering will also be available to existing shareholders under the existing shareholder exemption.

The shares are trading at $0.095.

For more information please visit the company’s website www.edgewaterwireless.com, contact Andrew Skafel,
President and CEO, at 613-271-3710 or by email at andrews@edgewaterwireless.com.

I’m Erica James for Investmentpitch Media