Edgewater Wireless Grants Stock Options Incentives

Rhea-AI Summary

Edgewater Wireless Systems Inc. (KPIFF) announced the granting of options to purchase 2,250,000 common shares to its Directors, Officers, employees, and consultants, pending TSX Venture Exchange approval. This marks the first round of incentive options since a two-year hiatus, with the stock options priced at $0.14 per share for eight years. The options will vest in three equal installments; a third will vest immediately, with the remaining two-thirds vesting over the next two years. This initiative is part of Edgewater’s employee retention program.

Positive

• Granting of 2,250,000 stock options indicates a commitment to employee retention.
• Options priced at $0.14 for eight years may incentivize long-term investment.

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• None.

Edgewater Wireless Systems Inc. (YFI; TSX.V) (OTCQB: KPIFF), the industry leader in Spectrum Slicing technology for residential and commercial markets, announced today that, subject to TSX Venture Exchange approval, it has granted options to purchase 2,250,000 common shares to Directors, Officers, employees and consultants of the Company.

Aside from a grant to a new Director in November 2019, the current round of incentive and employee retention options are the first after a two-year hiatus and were granted pursuant to the terms of Edgewater’s stock option plan. Exercisable at $0.14 per share for eight years, options will vest in three equal installments. The first one-third vesting immediately and an additional one-third vesting on each of the first and second anniversaries of the grant. The Options are a normal-course grant that comprises part of the Company's long-term incentive and employee retention program and is subject to acceptance by the TSX Venture Exchange.

For more information on Edgewater Wireless and Spectrum Slicing, visit www.edgewaterwireless.com.

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 or www.aera.io.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210428006038/en/

FAQ

What is the significance of the stock options granted by Edgewater Wireless (KPIFF)?

The stock options, totaling 2,250,000 shares, aim to enhance employee retention and align their interests with company performance.

When will the stock options for Edgewater Wireless (KPIFF) vest?

The options will vest in three equal parts: one-third immediately, and one-third on each of the next two anniversaries.

What is the exercise price for the options granted by Edgewater Wireless (KPIFF)?

The options are exercisable at $0.14 per share.

How long are the options granted to Edgewater Wireless (KPIFF) valid?

The options are valid for a period of eight years.

Who are the recipients of the stock options from Edgewater Wireless (KPIFF)?

The options were granted to Directors, Officers, employees, and consultants of the company.