Edgewater Announces Delay in Filing Under CSA Instrument Governing Relief Under COVID-19 Duress

Pursuant to BC Instrument 51-517, Alberta Blanket Order 51-519 and Ontario Instrument 51-505

OTTAWA, Ontario--(BUSINESS WIRE)--Edgewater Wireless Systems Inc. (YFI; TSX.V) (OTCQB: KPIFF) announces that due to circumstances created by the COVID-19 pandemic it will not be filing its annual financial statements for the year ended April 30, 2020 by the scheduled due date of August 28, 2020 (as required by section 4.2(b) of National Instrument 51-102), nor will the Management Discussion and Analysis covering the same period be filed by it’s scheduled due date (as required by section 5.1(2) of National Instrument 51-102).

As required by BC Instrument 51-517, Alberta Blanket Order 51-519 and Ontario Instrument 51-505, the Company discloses the following:

• The Company’s management and other insiders will be subject to a trading black-out that reflects the principles in Section 9 of National Policy 11-207 until the annual financial statements for the year ended April 30, 2020 and the related Management Discussion and Analysis (the “Financial Reports”) have been filed;
• The Company expects to file the Financial Reports on or about October 8, 2020; and
• Other than as previously disclosed by the Company, there have been no material business developments since the date of the Company’s most recent filing of its interim Financial Statements and Management Discussion and Analysis.

About Edgewater Wireless

We make Wi-Fi. Better.

Edgewater Wireless (www.edgewaterwireless.com) is the industry leader in innovative Wi-Fi Spectrum Slicing technology for residential and commercial markets. We deliver advanced 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 24+ patents, Edgewater’s Multi-Channel, Single Radio (MCSR) technology revolutionizes Wi-Fi, delivering next-generation Wi-Fi today.

For more information, visit www.edgewaterwireless.com or www.aera.io.

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.