Edgewater Wireless Systems Inc., a pioneer in AI-powered Wi-Fi Spectrum Slicing silicon solutions, announced the first closing of its non-brokered private placement financing. The company issued 7,155,879 units at $0.06 per unit, generating gross proceeds of approximately $429,353, subject to final TSX Venture Exchange approval.
The first close includes participation from a strategic investor in the global semiconductor industry, alongside additional investors from the Silicon Catalyst ecosystem. This underscores growing Silicon Valley support for Edgewater's patented Spectrum Slicing technology and its PrismIQ product roadmap. CEO Andrew Skafel called the close an important execution milestone, noting that securing a strategic investor and Silicon Catalyst support validates the technology and confidence in the company's strategic plan.
Each unit consists of one common share and one warrant exercisable at $0.09 per share for two years. Management participated with 1,000,000 units for $60,000, a related-party transaction exempt from formal valuation and minority approval requirements under MI 61-101 as it does not exceed 25% of market capitalization.
Net proceeds will fund semiconductor design, engineering, and product development for the Spectrum Slicing prototype, as well as general working capital. The company may complete additional tranches subject to market conditions and regulatory approvals. A cash commission of $2,478 and 41,300 finder's warrants were paid to an arm's length finder.
All securities issued are subject to a four-month statutory hold period. Edgewater Wireless, a Silicon Catalyst portfolio company, delivers Wi-Fi quality of service by intelligently mitigating congestion, allocating spectrum in real time, and optimizing channel density. Its Spectrum Slicing platform enables multiple concurrent channels within a single band for more usable capacity, lower latency, and deterministic performance.
For more information, visit Edgewater Wireless at edgewaterwireless.com and Silicon Catalyst at siliconcatalyst.com.
