OTTAWA, Ontario–(BUSINESS WIRE)–Edgewater Wireless Systems Inc. (YFI; TSX.V) (OTCQB: KPIFF) announces that it is canceling, effective immediately, the proposed second and final tranche of its non-brokered private placement announced May 10, 2019. The Company has decided to close the financing at the first tranche amount of $1,100,000 as published in a news release dated June 26, 2019. In light of recent developments, the Company is updating its business plan to reflect the emerging Dual Channel W-Fi™ standard and Edgewater Wireless’s role in the multi-billion dollar residential Wi-Fi market1 for silicon and licensing.
The release of the emerging Dual Channel Wi-Fi standard marks the first declaration by a recognized global standards body that one channel is not enough. Edgewater, the industry leader in Wi-Fi Spectrum Slicing technology, believes the shift aligns with our MCSR™ technology. And the move toward more channels opens opportunities for licensing and development of silicon solutions in the $12.9 billion residential Wi-Fi market2.
For more information on Edgewater and Dual Channel Wi-Fi, please watch the July 27, 2019 webinar at www.edgewaterwireless.com/partners/webinars.
About Edgewater Wireless
We make Wi-Fi. Better.
Edgewater Wireless (www.edgewaterwireless.com) is the industry leader in innovative Wi-Fi technology for residential and commercial markets. We deliver advanced silicon solutions 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 with its aera™ access point product line, delivering next-generation Wi-Fi today.
The best solution for High-Density Wi-Fi networks, Edgewater provides reference designs for easy OEM integration, enabling service providers to plan, build and deploy reliable, high-capacity services to meet data demand in any environment, while fewer access points means lower deployment costs.
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