Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF), a pioneer in AI-powered Wi-Fi Spectrum Slicing silicon solutions, today announced the first closing of its non-brokered private placement financing. The company issued 7,155,879 units at $0.06 per unit, raising gross proceeds of approximately $429,353, subject to TSX Venture Exchange acceptance.
The first tranche includes participation from a strategic investor within the global semiconductor industry, alongside additional investors from the Silicon Catalyst ecosystem. This backing underscores growing Silicon Valley support for Edgewater's patented Spectrum Slicing technology and its PrismIQ product roadmap. Andrew Skafel, President and CEO of Edgewater Wireless, stated, "Securing a strategic investor from the global semiconductor industry, alongside additional support from the Silicon Catalyst ecosystem, reinforces the growing industry interest in Spectrum Slicing and our roadmap for high-reliability, low-latency wireless connectivity."
Each unit consists of one common share and one warrant, exercisable at $0.09 per share for two years. Management participated in the offering, acquiring 1,000,000 units for $60,000, which constitutes a related party transaction under MI 61-101. The company is relying on applicable exemptions from formal valuation and minority shareholder approval, as the insider participation does not exceed 25% of market capitalization.
Net proceeds will fund semiconductor design, engineering, product development for the Spectrum Slicing prototype, and general working capital. Edgewater may complete additional tranches subject to market conditions and regulatory approvals. The company paid a cash commission of $2,478 and issued 41,300 finder's warrants at $0.09 per share for 24 months. All securities are subject to a four-month hold period.
Edgewater Wireless, a Silicon Catalyst portfolio company, delivers AI-powered Wi-Fi Spectrum Slicing technology that enables multiple concurrent channels within a single band, reducing congestion and latency. This funding round highlights growing industry interest in differentiated wireless solutions for service providers, autonomous systems, and critical communications infrastructure.
