(TheNewswire)
Ottawa, Ontario / TheNewswire / Jun 29, 2017 – Edgewater
Wireless Systems Inc. (TSX-V: YFI) (the “Company”) is pleased to announce that, due to demand, the Company is
increasing its previously announced non-brokered private placement.
The Offering has been fully subscribed of an aggregate of 4,8000,000 units (the “ Units ”) at a price of $0.25 per Unit, for gross proceeds of $1,200,000 and the company anticipates an additional
663,858 Units (5,463,858 Units in total) will be issued, for additional gross proceeds of $165,965. Each Unit consists of one
common share of the Company and one-half of one non-transferable common share purchase warrant (each a “ Warrant ”). Each half Warrant will entitle the holder to acquire one half of one additional common share of
the Company at a price of $0.375 per share for a period of 2 years following the closing date of the Offering.
“We are pleased to have the support of existing shareholders as well as two new sophisticated investors taking
large positions as well as Company Director, Mr. Brian Imrie joining the round. The entire team here at Edgewater Wireless is
excited by the future as we expand our relationship with our Fortune 500 partner and are exploring additional opportunities to
market and sell this innovative WiFi + IOT product we are jointly developing, to the broader retail sector.” said Andrew Skafel,
President and CEO of Edgewater Wireless. “Grand View Research has pegged the Global Connected Retail market to be worth over $53
Billion by 2022 and we believe the product we are developing in conjunction with our partners has the potential to be a market
leader.”
Edgewater Wireless is also pleased to announce that in a show of support for Edgewater Wireless, two of the
company’s largest shareholders, Mr. Duane Anderson and, our former parent company, Edgewater Computer Systems Inc., have both
agreed to lock-up their shares until at least November 2017.
All securities issued in connection with this Offering are subject to a 4-month hold period as prescribed by
the TSX Venture Exchange and applicable securities laws. A news release disclosing the hold period expiry date and details of
finders’ fees will be disseminated after closing.
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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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