Silicon ready, Edgewater to commence North American packaging initiative

OTTAWA, Ontario--(BUSINESS WIRE)--Aug. 29, 2024-- Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF), the industry leader in Wi-Fi Spectrum Slicing technology for residential, enterprise and Industrial IoT markets, reaches a major silicon production milestone and commences shift to North American packaging facility.

“Over the last few months, our team has successfully completed numerous critical steps in our silicon production and commercialization efforts. We’ve strengthened our IP portfolio with several new patent applications. We’ve identified a new vertical market for our Wi-Fi Spectrum Slicing solutions,” said Andrew Skafel, President and CEO of Edgewater Wireless Systems Inc. “And, working with our strategic partners, we’ve achieved a major milestone and have created a capital-efficient path for packaging our Wi-Fi Spectrum Slicing solutions in North America.”

Leveraging the broader Canadian silicon ecosystem, the Company has established a secure, on-shore supply line for its advanced Wi-Fi Spectrum Slicing silicon solutions. Initial Canadian packaging efforts will focus on the Company’s advanced Wi-Fi RF Front Ends for use in residential, enterprise and Industrial Internet of Things (“IIoT”) applications globally. Commencing in September 2024, the packaging initiative represents a significant step in bringing engineering samples to market and puts the Company on track to deliver within the calendar year.

The major production milestone dovetails with the successful commercial pilot and recently announced Letter of Intent (“LOI”) with WCS Europe in the IIoT market. Establishing a new market vertical for Wi-Fi Spectrum Slicing, WCS Europe is targeting the European enterprise access point market. Their commercial pilot demonstrates the broader market appeal for Edgewater’s Wi-Fi Spectrum Slicing approach. Shipments are slated to commence in late 2024.

Edgewater’s 2024 audited financial results can be found on SEDAR.

For further information on Wi-Fi Spectrum Slicing, please visit www.edgewaterwireless.com.

About Edgewater Wireless

We make Wi-Fi. Better.

Edgewater Wireless (www.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 and multiple pending patents, Edgewater’s Multi-Channel, Single Radio (MCSR) 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 SpectrumSlicing 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 www.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.

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Edgewater Wireless Contacts:
Andrew Skafel, President and CEO
E: andrews@edgewaterwireless.com

Bill Mitoulas, Investor Relations
E: ir@edgewaterwireless.com
T: +1.416.479.9547

www.edgewaterwireless.com

Source: Edgewater Wireless Systems Inc.