Edgewater Wireless Sys Inc - KPIFF STOCK NEWS

Edgewater Wireless Systems (TSXV: YFI) (OTC: KPIFF), a leader in Wi-Fi Spectrum Slicing technology, has appointed Jimmy Jeon as Chief Financial Officer effective May 22, 2024. Jeon replaces Chris Olney, who has served as CFO since January 10, 2021, and is now retiring. Jeon, a CPA with over 7 years of experience, currently serves as a Senior Financial Analyst at Marrelli Support Services Inc., where he provides CFO and financial services to various public companies. He holds a Bachelor of Business Administration and a Graduate Diploma in Accounting from Wilfrid Laurier University. In his new role, Jeon will work on Edgewater's Fiscal 2024 Audited Financial Statements.

Edgewater Wireless Systems (TSXV: YFI) (OTC: KPIFF) has announced that Nick Kepler, Chief Operating Officer of Silicon Catalyst, will join as a Board Observer. This appointment comes as Edgewater, a Portfolio Company in the Silicon Catalyst incubator + accelerator, advances its Wi-Fi Spectrum Slicing technology for residential and enterprise markets.

Kepler brings significant semiconductor industry experience, including senior leadership roles at Advanced Micro Devices (AMD). At Silicon Catalyst, the world's premier semiconductor-focused incubator + accelerator, he has been instrumental in mentoring early-stage companies.

The appointment aligns with Edgewater's strategy to commercialize its Spectrum Slicing technology, which aims to improve efficiency and reliability in high-density Wi-Fi environments. The company is targeting what it describes as a multi-billion-dollar global market opportunity.

Edgewater Wireless Systems (TSX-V: YFI, OTC: KPIFF) has completed its previously announced non-brokered private placement, raising $1,915,000 through the issuance of 38,300,000 units at $0.05 per unit. Each unit includes one common share and one warrant, exercisable at $0.08 for two years. The company paid $17,150 in finder's fees, issued 1,533,000 common shares, and 2,314,000 finder's warrants. The proceeds will be used for product commercialization and working capital. Company insiders participated in the placement for $150,000. All securities are subject to a four-month hold period.

Edgewater Wireless Systems (TSXV: YFI, OTC: KPIFF) has joined the Arm Flexible Access program, gaining access to Arm's compute platform and extensive technology portfolio. This partnership enables Edgewater to develop its Wi-Fi Spectrum Slicing technology without upfront licensing fees, accelerating innovation and reducing time to market. The company's Spectrum Slicing technology enables multiple concurrent channels within a coverage area, delivering 50% lower latency and 7-18 times performance gains compared to traditional single-channel Wi-Fi. Notably, this technology allows service providers to enhance network performance without replacing existing WiFi4/5/6 devices, benefiting the 20+ billion Wi-Fi devices currently in use.

Edgewater Wireless Systems (TSXV: YFI, OTC: KPIFF) has been selected to join Silicon Catalyst's Semiconductor Incubator + Accelerator program. As one of six new companies admitted, Edgewater gains access to over 350 industry advisors and up to US$3M in in-kind services. The 24-month program will help accelerate the company's transition from prototype to production of their Wi-Fi Spectrum Slicing technology.

Silicon Catalyst will receive a Board Advisor position and 18,812,639 warrants at $0.05 per share with a 5-year term. Edgewater's Spectrum Slicing technology enables multiple concurrent channels within a coverage area, delivering 50% lower latency and 7-18x performance gains over traditional Wi-Fi, while maintaining compatibility with existing devices.

Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF), a leader in Wi-Fi Spectrum Slicing technology, has reached a significant silicon production milestone. The company is shifting to a North American packaging facility, establishing a secure, on-shore supply line for its advanced solutions. This initiative, starting in September 2024, aims to bring engineering samples to market within the calendar year.

Edgewater has also strengthened its IP portfolio with new patent applications and identified a new vertical market for its technology. A successful commercial pilot and LOI with WCS Europe in the IIoT market demonstrates broader appeal for Wi-Fi Spectrum Slicing, with shipments planned for late 2024.

Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF), a leader in Wi-Fi Spectrum Slicing technology, has responded to an unauthorized news release by Avon River Ventures regarding an IP valuation. As part of a potential non-dilutive IP-backed lending facility, Edgewater had engaged Avon River Ventures for a comprehensive IP valuation of its portfolio and trade secrets. The unauthorized release indicated a valuation range of US$90M to US$180M for Edgewater's IP asset portfolio.

However, Edgewater management has not received the final proprietary valuation report and cannot comment on its details. The company remains committed to corporate governance and transparency. Edgewater's CEO, Andrew Skafel, emphasized the importance of their intellectual property in creating differentiated silicon solutions, particularly in light of the WiFi7 standard and its MLO feature. Management cautions readers not to solely rely on the information in the Avon River news release.

Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF), a leader in Wi-Fi Spectrum Slicing technology, has announced that Jim Skippen has accepted an invitation to join its Board of Directors, pending shareholder approval at the upcoming Annual General Meeting on September 5, 2024. Skippen, former CEO of WiLAN and a renowned Intellectual Property strategist, brings over 30 years of legal and management experience to Edgewater.

During his 13-year tenure at WiLAN, Skippen transformed the company into a successful patent monetization entity, focusing on unlocking the value of intellectual property through various models. His expertise in building and monetizing cutting-edge technology patent portfolios is expected to be invaluable to Edgewater as it progresses its next phase of product commercialization and licensing.

Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF), a leader in Wi-Fi Spectrum Slicing technology, has been nominated for the Accelerated Growth Service (AGS) program by Innovation, Science and Economic Development Canada. This program offers support to high-growth, high-potential businesses across Canada.

As part of AGS, Edgewater may gain access to R&D funding, advisory services, financing assistance, and global partnership opportunities. The company will receive a personalized team of government experts to support growth plans and identify beneficial government programs.

Edgewater's Wi-Fi Spectrum Slicing technology enables multiple, in-band concurrent links within a given coverage area, offering 50% lower latency and 7 to 18 times performance gains over legacy Wi-Fi architectures. This innovation allows service providers to benefit from Wi-Fi 7 without replacing existing devices.