Edgewater Wireless cancels last tranche of private placement

Edgewater Wireless Systems Inc. (YFI; TSX.V) (OTCQB: KPIFF) has announced that it is canceling, effective immediately, the proposed second and final tranche of its non-brokered private placement announced May 10, 2019, the company said.

The company has decided to close the financing at the first tranche amount of USD 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 provider of 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 USD 12.9 billion residential Wi-Fi market.

Edgewater Wireless (www.edgewaterwireless.com) is the industry provider of innovative Wi-Fi technology for residential and commercial markets.