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.
For more information, visit: www.edgewaterwireless.com or www.aera.io
FULL DISCLOSURE: Edgewater Wireless is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Ionic Brands on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
