(via Thenewswire.ca)
Ottawa, Canada & San Jose, California / TheNewswire / February 1, 2016 -- Edgewater Wireless Systems Inc. (YFI; TSX.V), the manufacturer of multi-channel WiFi3? technology for high-density WiFi applications, is detailing share activity without a change in ultimate beneficial ownership.
On August 20, 2014, Edgewater Computer Systems, Inc. (ECSI), a privately held company and largest shareholder of Edgewater Wireless Systems Inc., entered into an agreement with Mr. Duane Anderson, Chairman and Chief Technology Officer of Edgewater Wireless.
As part of the agreement to extinguish shareholder loans, 7,609,800 shares were transferred from ECSI to Mr. Anderson for estate planning purposes. Mr. Anderson's and ECSI's combined holdings in Edgewater Wireless remain unchanged following the transaction. The transaction did not involve Edgewater Wireless in any way and was deemed not to be a material event.
Formal title change took place on December 23, 2015 and notice of the change was communicated to Mr. Anderson on December 31, 2015. Mr. Anderson will now update his SEDI filings to reflect the title change.
Edgewater's WiFi3? powered technology gives carriers, service providers and systems integrators the technology advantage to fix the evolving issues of interference, capacity and critical mass of users which is stretching WiFi networks to their breaking point. Edgewater's patented technology solves the high-density problem while also significantly reducing the equipment investment and operating costs for new network deployments.
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Edgewater Wireless Enquiries:
Matt Massey T: 613-797-9628
E: mattm@edgewaterwireless.com
About Edgewater Wireless Systems Inc.:
Edgewater Wireless develops and commercializes leading edge technologies and intellectual property for the communications market. Edgewater Wireless delivers advanced product solutions designed to meet the high-density, high quality of service (QoS) and high-reliability needs of service providers and their customers. Leveraging over twenty (20) patents, Edgewater's WiFi3(TM) is redefining Wi-Fi technology with its wide-band, multi-channel radio and high-capacity Access Point solutions, and delivering next generation Wi-Fi, today.
The best solution for High-Density Wi-Fi networks, Edgewater Wireless WiFi3 powered access point products enable innovative service providers to plan, build and deploy reliable, high-capacity services (like VoWiFI) for high-density wireless data demand in any environment.
Do more with less! Fewer access points delivering high quality service at a lower overall deployment cost make our patented WiFi3 technology the right choice for your next Wi-Fi network. Explore the evolution of Wi-Fi at 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' 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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