Edgewater Wireless Systems Inc. announced a non-brokered private placement of 10,000,000 units at a price of CAD 0.05 for the gross proceeds of CAD 500,000 on November 15, 2023. Each unit will consist of one common share and one common share purchase warrant, each warrant entitling the holder to purchase one additional common share of the company at an exercise price of CAD 0.10 per share for a period of 24 months from the closing date. The company may pay finder?s fees of up to 7% of the gross proceeds of the offering, payable in cash.

In addition, finders may receive share purchase warrants entitling them to purchase such number of common shares of the company which is equal to 7% of the total number of units purchased by subscribers introduced to the company by such finders, exercisable for two years from the closing date of the offering at a price of CAD 0.10 per share, all in accordance with the policies of the TSX Venture Exchange. Any securities issued in connection with the offering will be subject to a four-month hold period, in accordance with securities laws and the policies of the TSXV, as applicable. The offering is subject to TSXV acceptance.