Edgewater Wireless Continues to Execute on World Affinity Telecom Contract with $1.9 Million Order of Equipment & Services
(via Thenewswire.ca)
Shipment of WiFi3 Technology to World Affinity Telecom Subsidiary in Sierra Leone
OTTAWA, ONTARIO - May 10, 2013 - Edgewater Wireless Systems Inc., (YFI;TSX.V) the global leader in WiFi3 next generation WiFi technology, is pleased to announce it has completed a shipment of wireless network equipment worth in excess of $350,000 to World Affinity Telecom (WAT) in April 2013 as part of a $1.9 Million purchase order. This was the second of a series called for in the previously announced $6.7 million contract between the two companies. Edgewater Wireless equipment is being installed by WAT's Sierra Leone-based subsidiary, Sierra WiFi, to expand the network infrastructure that will provide internet and wireless services throughout Sierra Leone. Edgewater Wireless exited its 2013 fiscal year with an in-hand order backlog in excess of $1.5 million.
This shipment is a major milestone for Edgewater Wireless as it represents our largest single shipment to date for our growing company," said Andrew Skafel, President of Edgewater Wireless. "We are excited to continue to grow our business in Western Africa with our ongoing partnership with World Affinity Telecom."
"With this shipment of equipment Sierra WiFi is commencing our network build;, this is an exciting time for Sierra Leone.," said Matthew Awad, Co-founderof World Affinity Telecom "Together with Edgewater Wireless, WAT is creating a model for wireless communications infrastructure that is unparalleled on the African continent.
Edgewater Wireless WiFi3 technology enables 3-channels on a single radio - leveraging over 20 industry leading patents. WiFi3 technology delivers up to 50 times greater performance vs traditional WiFi by mitigating issues of Adjacent Channel Interference which dramatically impacts traditional WiFi performance. In addition to improved performance, WiFi3 delivers industry leading capabilities such as the integrated Spectral Surveillance Architecture (SSA(TM)), Edgewater's integrated, real time spectral monitoring feature which dramatically reduces operational expenses (OPEX) for service providers.
Contact:
Andrew Skafel
President, Edgewater Wireless
1.613.271.3710 x 501
Anthony Durkacz
Edgewater Wireless Investor Relations
1.647.202.5292
AndrewS@edgewaterwireless.com Anthony@capitalideasir.com
Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. Although Edgewater Wireless believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Edgewater Wireless can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause Edgewater Wireless' actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to access to capital markets, market forces, competition from new and existing companies and regulatory conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. Edgewater Wireless undertakes no obligation to update publicly or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by law.
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