Edgewater Wireless Announces AGM Results, New Director and Grant of Stock Options

OTTAWA, Ontario--(BUSINESS WIRE)--Edgewater Wireless Systems Inc. (“Edgewater” or the “Company”) (YFI: TSX.V) (OTCQB: KPIFF) is pleased to announce that at its annual general meeting of shareholders held on June 16, 2021 (the “AGM”) all resolutions put to the shareholders were passed. At the AGM, shareholders approved setting the number of directors at four and electing all of management’s nominees, as listed in the management proxy circular dated May 14, 2021, to the Board of Directors to serve until the next annual general meeting. In addition, shareholders approved the re-appointment of KMPG LLP as the Company’s auditor and approved the continuation of the Company’s rolling stock option plan (the “Plan”).

The Company is pleased to announce the addition of Ralph Garcea to the Company’s Board of Directors, which was approved at the AGM. With more than 22 years of experience in senior positions at major and boutique investment dealers in the United States and Canada, Mr. Garcea was a top-ranked research analyst specializing in technology, gaming and industrial companies. Mr. Garcea is the managing partner and co-founder of Focus Merchant Group, a boutique advisory firm offering a full range of financial advisory services. He currently serves as a director on the board of Toronto Stock Exchange-listed Converge Technology Solutions Corp.

The Company further announces that it has granted incentive stock options (the “Options”) pursuant to the Plan to various directors, management, employees, and consultants of the Company to purchase up to an aggregate of 1,500,000 common shares in the capital stock of the Company at an exercise price of $0.13 per share for a period of eight years from the date of grant. A total of 200,000 options granted to an investor relations services provider to the Company, will vest over a twelve month period, with 25% vesting every three months after the date of grant.

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 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.

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