Edgewater Wireless Systems Inc.
Edgewater Wireless Systems Inc.
09/09/2024 | Press release | Distributed by Public on 09/09/2024 20:59
Edgewater Announces Results of AGM and Shareholder Approval of Fixed Stock Option Plan
September 9, 2024 - Ottawa, Canada - Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF) (the "Company" or "Edgewater") is pleased to announce that its shareholders have approved its proposed 20% fixed stock option plan (the "New Plan") at the annual general meeting of shareholders held on September 5, 2024. Shareholders also approved: (i) setting the number of directors at four for the ensuing year; (ii) the election of Andrew Skafel, Brian Imrie, Ralph Garcea, and James (Jim) Skippen as directors of the Company; and (iii) the appointment of MS Partners LLP as auditor of the Company for the ensuing year. Shareholders holding 57,852,561 common shares of the Company (29.32% of the Company's issued and outstanding common shares) voted their shares at the meeting. The voting results for each resolution are as follows:
The Company's New Plan replaces the Company's 10% rolling stock option plan (the "Previous Plan"). The maximum number of common shares of the Company reserved for issuance under the New Plan shall not exceed, in the aggregate, 39,461,181 common shares, representing 20% of the issued and outstanding common shares on a non-diluted basis as at the date of implementation of the New Plan (including options granted under the Previous Plan). Any options issued pursuant to the Previous Plan will be governed by the New Plan.
Following the meeting, the board of directors met to: (i) constitute the audit committee of the Company to be comprised of the following members: Ralph Garcea (Chair), Brian Imrie and James (Jim) Skippen; and (ii) approve the grant of an aggregate of 3,000,000 stock options to certain directors and officers of the Company, and 200,000 options to an investor relations service provider of the Company, exercisable for five years at a price of $0.05 per share.
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 26 granted patents, Edgewater's Multi-Channel, Single Radio (MCSR) technology revolutionizes Wi-Fi, delivering next-generation Wi-Fi today.
Edgewater's physical layer Spectrum Slicing allows a frequency band to be divided or sliced to enable more radios to operate in a given area. Think of Spectrum Slicing like moving from a single-lane road to a multi-lane highway - regardless of Wi-Fi technology. The recently completed Proof of Concept (PoC) with a major Tier 1 Service Provider showed 7 to 18 times performance gains in 75% of homes surveyed. Interestingly, homes with the most devices saw the greatest improvements.
For more information, visit www.edgewaterwireless.com.
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Edgewater Wireless Contacts:
Andrew Skafel, President and CEO
T: +1 613 271 3710
Bill Mitoulas, Investor Relations
T: +1.416.479.9547
www.edgewaterwireless.comNEITHER 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