On February 27, 2024, Edgewater Wireless Systems Inc. closed the transaction. The company has issued 500,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 25,000 in its second and final tranche closing. In total, the company has issued an aggregate of 8,330,000 units at a price of CAD 0.05 per unit for gross proceeds of CAD 416,500 in the transaction.

In connection with the second tranche closing, the company paid finder?s fees of CAD 1,750 in cash and issued 35,000 finder?s warrants. In total, the company paid aggregate finder?s fees of CAD 4,025 in cash and issued 80,500 non-transferable share purchase warrants entitling the holder to acquire one common share of the company at a price of CAD 0.10 per share for a period of 24 months from the date of issuance. The TSX Venture Exchange has accepted for filing documentation with respect to anon-brokered private placement.

The transaction included participation from 12 placees, 1 insider with total existing insider involvement of 1.000,000 shares and 1 pro group with total pro group involvement of 500,000 shares.