Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF), the industry leader in Wi-Fi Spectrum Slicing technology for the residential, enterprise, and industrial Internet of Things (IIoT) markets, provides additional commentary on the Avon River Ventures LLC news release announced on August 15, 2024 and confirms that the Company has not received a copy of the final report.
Edgewater Wireless recognizes the importance of ensuring transparency and accuracy in all communications and proactively engaged with the regulators prior to issuing the August 15, 2024, press release. On June 27, 2024, an internal draft press release titled "Edgewater Wireless Announces Third-Party Valuation Report" was published on a third-party website without authorization. Upon becoming aware of this situation, the Company reviewed the matter thoroughly and is focused on maintaining the confidentiality and integrity of its information.
Edgewater Wireless advises stakeholders to exercise caution when interpreting the information presented in the Avon River news release, particularly the IP valuation. Stakeholders are encouraged to rely on verified and publicly available information regarding the Company’s patent portfolio. The information contained in this press release constitutes Corrective Disclosure as defined in OSC Staff Notice 51-711 (Revised) Refilings and Corrections of Errors , and was requested to be disclosed by staff of the OSC (" Staff ") in connection with a Staff review.
About Edgewater Wireless
We make Wi-Fi. Better.
Edgewater Wireless ( edgewaterwireless.com ) is the industry leader in innovative Spectrum Slicing technology for residential and commercial markets. We develop advanced Wi-Fi silicon solutions, Access Points, and IP licensing designed to meet the high-density and high quality-of-service needs of service providers and their customers. With 26 granted patents, Edgewater’s Multi-Channel, Wi-Fi Spectrum Slicing technology revolutionizes Wi-Fi, delivering next-generation Wi-Fi today.
Edgewater’s physical layer Spectrum Slicing allows a frequency band to be divided or sliced to enable more radios to operate in a given area. Think of Spectrum Slicing like moving from a single-lane road to a multi-lane highway — regardless of Wi-Fi technology. The recently completed Proof of Concept (PoC) with a major Tier 1 Service Provider showed 7 to 18 times performance gains in 75% of homes surveyed. Interestingly, homes with the most devices saw the greatest improvements.
For more information, visit edgewaterwireless.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.
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.
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Edgewater Wireless:
Andrew Skafel, President and CEO
E:
andrews@edgewaterwireless.com
Bill Mitoulas, Investor Relations
E:
ir@edgewaterwireless.com
T: +1.416.479.9547
