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Edgewater Wireless Announces $3 Million Canaccord-led Financing
Edgewater Wireless Announces $3 Million Canaccord-led Financing Canada NewsWire ...
About this update from Edgewater Wireless Systems Inc.
[{"type":"text","content":"\n\n\n\nEdgewater Wireless Announces $3 Million Canaccord-led Financing\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nOTTAWA, May 31, 2017\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./\n\n\n\nOTTAWA, May 31, 2017 /CNW/ - Edgewater Wireless Systems Inc. (TSX-V: YFI) (the \"Company\") is pleased to announce that it has appointed a syndicate led by Canaccord Genuity Corp. (the \"Agent\") to sell by way of private placement up to 12,000,000 units of the Company (each a \"Unit\") at a price of $0.25 per Unit for gross proceeds of up to $3,000,000 (the \"Offering\"). \n\n\n \n \n\n \nEach Unit will consist of one common share of the Company and one-half of one common share purchase warrant.  Each whole warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.375 per share for a period of 2 years following the closing date of the Offering. The Offering is not subject to any minimum aggregate subscription. \n\n\"The era of High Density WiFi has arrived! The previous 12-months have been an exciting time and the interest in Edgewater Wireless' and our WiFi3 technology has is building steadily as high density WiFi issues dominate Quality of Experience for wireless users.\" said Andrew Skafel, President and CEO of Edgewater Wireless \"This is a momentous time for the company as interest in WiFi3™ and the demand for better WiFi – reduced interference and increased capacity continues to evolve. We are growing and we are entering new phases of development and production with our customers. These funds will provide Edgewater Wireless additional capital to build our sales and marketing channels as well as allow us to ramp production in support of our existing customers and sales.\"\n\nThe Company will make the Offering available to subscribers in all provinces of Canada and in the United States by way of private placement to selected accredited investo...