Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF), 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 for gross proceeds of about $429,353, subject to TSX Venture Exchange acceptance. This initial tranche includes participation from a strategic investor and additional Silicon Catalyst-related investors, underscoring growing Silicon Valley support for Edgewater's patented Spectrum Slicing technology and PrismIQ product roadmap.
Each unit consists of one common share and one common share purchase warrant, exercisable at $0.09 per share for two years. "This first close is an important execution milestone for Edgewater," said Andrew Skafel, President and CEO. "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."
Management also participated, with insiders acquiring 1,000,000 units for $60,000, constituting a related party transaction under MI 61-101. The company is relying on exemptions from formal valuation and minority shareholder approval as the insider participation's fair market value is not expected to exceed 25% of market capitalization. Net proceeds will fund semiconductor design, engineering, product development for the Spectrum Slicing prototype, and general working capital. The company may complete additional tranches subject to market conditions.
A cash commission of $2,478 and 41,300 finder's warrants were paid to an arm's length finder. All securities from this tranche are subject to a four-month statutory hold period. Edgewater Wireless, a Silicon Catalyst portfolio company, delivers AI-powered Wi-Fi Spectrum Slicing through its PrismIQ product family, enabling multiple concurrent channels within a single band for improved capacity, lower latency, and deterministic performance. This announcement signals strong investor confidence in Edgewater's technology and its potential to address critical wireless connectivity needs in service provider networks, autonomous systems, and other high-reliability applications.
