OTTAWA, Ontario--(BUSINESS WIRE)--Edgewater Wireless Systems Inc. (TSX-V: YFI) (OTCQB: KPIFF), (the “Company”) announces that it has granted incentive stock options pursuant to its incentive stock option plan to certain directors, officers, employees and consultants of the Company to purchase up to an aggregate of 4,035,000 common shares in the capital stock of the Company. The options are exercisable at a price of $0.16 per share for a period of ten years from the date of grant and are subject to TSX Venture Exchange approval. The options will vest over two years, with 33% vesting immediately, 33% vesting on the date that is 12 months from the date of grant and the remaining 34% vesting on the date that is 24 months from the date of grant. The options, and the shares issuable upon exercise, will be subject to applicable securities laws and regulatory hold periods.
About Edgewater Wireless Systems Inc.:
Edgewater Wireless develops and commercializes leading edge technologies and intellectual property for the communications market. Edgewater Wireless delivers advanced solutions designed to meet the high-density, high quality of service (QoS) and high-reliability needs of service providers and their customers. Leveraging more than twenty-four (24) patents, Edgewater’s WiFi3™ has revolutionized WiFi communications with its wide-band, multi-channel silicon solutions and high-capacity Access Point solutions delivering next-generation WiFi today.
The best solution for High-Density WiFi networks, Edgewater Wireless WiFi3™ powered access point products and silicon solutions enable innovative service providers to plan, build and deploy reliable, high-capacity, latency sensitive services, like streaming video and VoWiFi, in enterprises and the home. Service providers can deliver more for less: a higher quality service at a lower overall deployment cost.
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.