(via Thenewswire.ca)
August 24, 2016 / TheNewswire / Ottawa, Ontario – Edgewater Wireless Systems Inc. (TSX-V: YFI) (the “Company”) is pleased
to announce that it has completed its previously announced non-brokered private placement of an aggregate of 6,250,625 units (the
“Units”) at a price of $0.40 per Unit, for gross proceeds of
$2,500,250 (the “Offering”). Each Unit consists of one common share of
the Company and one non-transferable common share purchase warrant (each a “Warrant”). Each Warrant entitles the holder to acquire an additional common share at a price of $0.50
per share for a period of 24 months from the closing date.
In connection with the Offering, Haywood Securities Inc. will receive a finder’s fee of $74,900 in
cash and 187,250 finder’s units, PI Financial Corp. will receive a finder’s fee of $8,960 in cash and 22,400 finder’s units,
Echelon Wealth Partners Inc. will receive finder’s fee of $9,296 and 23,240 finder’s units, and Clairewood Partners Ltd. will
receive a finder’s fee of $63,455 and 158,637 finder’s units. The Company will also pay Derek Sinclair a finder’s fee of $15,540
and 38,850 finder’s units.
Each finder’s unit consists of one common share of the Company and one non-transferable common
share purchase warrant (the “Finder’s Warrants”). Each Finder’s
Warrant entitles the holder to acquire an additional common share at a price of $0.50 per share for a period of 24 months from the
closing date.
All securities issued in connection with this Offering are subject to a 4-month hold period
expiring on December 25, 2016 as prescribed by the TSX Venture Exchange and applicable securities laws.
The proceeds from the Offering will be used to support the Company’s F500 customer project as well
as drive development of Edgewater Wireless sales channels in Europe, North America, India and Asia.
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For further information, please contact:
Matt Massey
VP, Marketing
T: +1 613-797-9628
E: mattm@edgewaterwireless.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
The securities offered have not been and will not be registered under the United States
Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or applicable exemption
from the registration requirements. This news release does not constitute an offer to sell or the solicitation of any offer to buy
nor will there be any sale of these securities in any province, state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities laws of any such province, state or
jurisdiction.
This document contains certain forward-looking information and forward-looking
statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). The use of the word
“will” and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown
risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such
forward-looking statements. Such forward-looking statements should not be unduly relied upon. This document contains
forward-looking statements and assumptions pertaining to the following: the Offering, payment of the finder’s fee, and the use of
proceeds from the Offering. Actual results achieved may vary from the information provided herein as a result of numerous known and
unknown risks and uncertainties and other factors. The Company believes the expectations
reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to
be correct.
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