Edgewater Wireless closes private placement financing of USD 1m



Edgewater Wireless Systems Inc. (TSX-V: YFI) has closed its previously announced non-brokered private placement, the company said.

The Offering has been fully subscribed of an aggregate of 1,666,666 units (the “Units”) at a price of USD 0.60 per Unit, for gross proceeds of USD 1,000,000. Each Unit consists of one common share of the company and one non-transferable common share purchase warrant (each a “Warrant”). Each Warrant will entitle the holder to acquire one additional common share of the company at a price of USD 0.75 per share for a period of 2 years following the closing date of the Offering.

In connection with the Offering, Finders´ Fees of 6% in cash and 6% in Finders´ Units will be paid to Haywood Securities Inc. which will receive a finder´s fee of USD 16,799.98 in cash and 28,000 finders´ units and Clairewood Partners Ltd. which will receive USD 28,800 in cash and 48,000 finder´s units. Each finder´s unit comprises one share and one share purchase warrant at a strike price of USD 0.75 per share for a period of 2 years following the closing of the offering. Finders´ fees will be paid subject to Exchange approval.