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November 8, 2011 - Ottawa, Canada - Edgewater Wireless Systems, Inc. is pleased to announce the completion of its reverse takeover of KIK Polymers (TSX.V; KPI) and the related oversubscribed $6.4 million private placement. Management believes that the company is now poised to capitalize on the potential of its flagship products.
Edgewater Wireless develops and commercializes technologies and intellectual property for the telecommunications and networking market. Backed by an extensive patent portfolio, Edgewater Wireless' EAP3000 family of carrier class, WiFi products represents the next generation of 802.11 WiFi compliant access point (AP) solutions. These products help solve the growing and critical problem of expanding demand for wireless network bandwidth by diverting some of this traffic from wireless to higher capacity Wi-Fi networks.
The EAP3000 family of APs is ideally suited for the expanding BRIC (Brazil, Russia, India & China) and Asia-Pacific markets, where growth in wireless infrastructure continues to outpace other regions of the world and where wireless networks are increasingly strained.
With a customer base that includes some of the world's largest telcos and enterprises, Edgewater Wireless' EAP3000 product family delivers product solutions that address the pain points of its customers by offering solutions specifically designed to meet the needs of WiFi network infrastructure providers. The EAP3000 Product Family addresses improved performance, security, service-ability, and ease of deployment, leading to greatly reduced operating costs and increased revenues while adding network capacity.
The EAP3000 family of products leverages Edgewater Wireless' unique wide-band, multi-channel radio technology targeted expressly to meet the needs of the network aggregation or "Access Point" (AP) solution provider by offering:
- .Up to 50x greater throughput performance for both indoor and outdoor deployments when compared with single-channel radio solutions;
- .A better connectivity experience for the user by providing increased "bandwidth density" in a given coverage area;
- .Substantially improved mesh performance, leveraging the multi-channel radio architecture; and,
"As a shareholder and a member of the management team, I am thrilled about our prospects and look forward to introducing the unique features of the EAP3000 to the market. We have a world class product, an experienced team and over $50 million invested proving the technology and products," said Andrew Skafel, President of Edgewater Wireless. "We believe that Edgewater Wireless is solidly positioned to compete with major players in the wireless space worldwide."
The net proceeds from the recently completed private placement will be used to rapidly expand and focus Edgewater Wireless' sales and marketing efforts into various targeted regions in the world, ramp products into volume production to meet customer demand, and expand the EAP3000 family with additional features, capabilities and product variants to meet the needs of a broadening customer base.
About Edgewater Wireless
Formerly a subsidiary of Edgewater Computer Systems Inc. (ECSI), a supplier of leading-edge, robust, high-performance military avionics and real-time networking solutions, Edgewater Wireless was successfully spun out of ECSI through a reverse take over with KIK Polymers Inc. (KIK) which raised $6,469,750 in an oversubscribed private placement. Edgewater Wireless is managed by a team with extensive commercialization experience and development expertise in advanced wireless, communications and semiconductor solutions. Edgewater Wireless is now a wholly owned subsidiary of KIK, which trades on the TSX.V under the symbol KPI.
Contact Information
Andrew SkafelPhone: + 1 613 271 1101
President
Janet Eastman
Investor Relations
Email: Janete@edgewaterwireless.com
Phone: +1 613 301 5026
URL: 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's 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.
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