Wifi3 Technology Provides Broadband Internet Services Over Wifi to NWI Telecom Customers
OTTAWA, ONTARIO - January 9, 2013 - Edgewater Wireless Systems Inc., (YFI;TSX.V) the global leader in WiFi3 next generation WiFi technology today announces NWI Telecom as a new customer in Brasilia, Brazil. NWI Telecom is the latest company to use Edgewater Wireless' next generation WiFi3 access points to provide residential and business customers with broadband internet services over WiFi.
"WiFi3 technology outperformed the other vendors we researched providing much better quality of service for our customers," said Marcos Andre Chaves, President of NWI Telecom. "With Edgewater's WiFi3 access points we are able to layer additional applications which means we can generate more revenue from offering added value services to our customers."
Edgewater Wireless WiFi3 technology enables 3-channels on a single radio - leveraging over 20 industry leading patents to deliver the improved performance by eliminating issues like Adjacent Channel Interference - inherent in single channel WiFi solutions. WiFi3 also offers service providers unparalleled flexibility to layer revenue-generating services and applications across three channels. WiFi3 also delivers enhanced security for network operators through the Company's exclusive Spectral Surveillance Architecture (SSA(TM)) which can be used to identify and manage threats to the network from hackers, interference and rogue access points.
"We're very pleased to have NWI Telecom as our latest customer in Brazil." said Andrew Skafel, President of Edgewater Wireless. "Edgewater Wireless continues to see our growth opportunity in emerging markets like Brazil and Africa. Having strong, focused service providers, like NWI Telecom, as customers will continue to build our growth and success."
NWI Telecom is using WiFi3 technology to deliver last mile residential and business WiFi internet services to NWI's customers just outside of Brasilia, the capital of Brazil. NWI is aggressively targeting consumers and small businesses that require broadband access to WiFi and are leveraging the advantages of Edgewater Wireless' next generation WiFi3 technology to deliver superior service.
The Company would also like to provide an update on its previously announced $2.5 million private placement. As was announced on November 21, 2012, the Company completed an initial tranche of the private placement for gross proceeds of $939,596. The Company continues to raise funds pursuant to the private placement and anticipates a subsequent closing of the private placement before the end of January 2013. Pursuant to the private placement, the Company will issue up to 30,303,030 units ("Units") at a price of $0.0825 per Unit. This includes 11,389,043 Units issued in the November 21, 2012 closing. Each Unit consists of one common share of the Company and one share purchase warrant. Each warrant entitles the holder to acquire one additional common share of the Company at an exercise price of $0.11 for a period of 24 months from closing.
The proceeds from the private placement will be used for general working capital. The private placement remains subject to acceptance by the TSX Venture Exchange.
About Edgewater Wireless Systems Inc.: Edgewater Wireless develops and commercializes leading edge technologies and intellectual property for the communications market. Edgewater Wireless delivers advanced product solutions designed to meet the high-performance, high quality of service (QoS) and high-reliability needs of service providers and their customers. Leveraging over twenty (20) patents, Edgewater Wireless' WiFi3 is redefining WiFi technology with its wideband, multi-channel radio and high-capacity Access Point solutions, and is delivering next generation WiFi, today. For more information, please visit www.edgewaterwireless.com.
President, Edgewater Wireless
Capital Ideas Investor Relations
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. Although Edgewater Wireless believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because Edgewater Wireless can give no assurance that they will prove to be correct. By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause Edgewater Wireless' actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to access to capital markets, market forces, competition from new and existing companies and regulatory conditions. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose. Edgewater Wireless undertakes no obligation to update publicly or revise any forward looking information, whether as a result of new information, future events or otherwise, except as required by law.
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