Edgewater Wireless Systems Inc V.YFI

Warrant Expiry

[Pandora]

Mr. Andrew Skafel reports

EDGEWATER ANNOUNCES PROPOSED WARRANT EXTENSION

Edgewater Wireless Systems Inc. proposes to make an application to the TSX Venture Exchange to extend the expiry dates of an aggregate of 17,224,633 outstanding share purchase warrants, as described below.

The company currently has an aggregate of 6,985,752 warrants outstanding that were issued in two tranches of a private placement that closed on March 30, 2021, and April 26, 2021. The March warrants had original expiry dates of March 30, 2023, and April 26, 2023, which were extended to March 30, 2024, and April 26, 2024 (see the company's news release dated March 16, 2023). The company has applied to the TSX-V to extend the expiry dates of the March warrants by an additional 12 months, such that 6,316,405 March warrants will expire on March 30, 2025, and 669,347 March warrants will expire on April 26, 2025. Each March warrant entitles the holder to purchase one common share in the capital of the company at a price of 23 cents per share. All other terms of the March warrants will remain the same.

The company currently has an aggregate of 10,238,881 warrants outstanding that were issued in two tranches of a private placement that closed on April 1, 2021, and April 26, 2021. The April warrants had original expiry dates of April 1, 2023, and April 26, 2023, which were extended to April 1, 2024, and April 26, 2024 (see the company's news release dated March 16, 2023). The company has applied to the TSX-V to extend the expiry dates of the April warrants by an additional 12 months, such that 9,681,189 April warrants will expire on April 1, 2025, and 557,692 April warrants will expire on April 26, 2025. Each April warrant entitles the holder to purchase one common share in the capital of the company at a price of 23 cents per share. All other terms of the April warrants will remain the same.

The extension of the March warrants and April warrants remains subject to approval of the TSX-V.

About Edgewater Wireless

© 2024 Canjex Publishing Ltd. All rights reserved.

[Pandora]

In case anyone is wondering about the rules: SRO Notices and Disciplinary Proceedings May 4, 2007 (2007) 30 OSCB 4265 The amended section 7 includes the addition of a maximum permitted term of 5 years, where there was previously no maximum, and specific criteria that must be met for extending terms or amending exercise prices of warrants. The section provides for the amendment of warrant terms