OTTAWA, CANADA - October 11, 2013 - Edgewater Wireless Systems Inc., (YFI;TSX.V) wishes to advise that a Cease Trade Order (the "CTO") has been issued by the British Columbia Securities Commission (the "BCSC") against the Company for failing to file its financial statements, as well as the related Management's Discussion and Analysis and Chief Executive Officer and Chief Financial Officer certificates (collectively, the "Required Filings"), for the quarter ended July 31, 2013.
All trading in the securities of the Company, which includes trading in the Company's common shares through facilities of the TSX Venture Exchange where such shares are listed, will cease trade until the Company files, among other things, the Required Filings and the CTO is revoked.
Management anticipates that the Required Filings will be ready for publication within the next seven to ten days.
|Andrew Skafel President, | | |
|Edgewater Wireless | | |
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| 1.613.271.3710 x 501 | | |
|AndrewS@edgewaterwireless.com | | |
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Investor Relations for Edgewater Wireless
Phoenix Communications Group
+1. 250. 717.1910
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 delivering next generation WiFi, today. For more information, please visit www.edgewaterwireless.com.
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.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
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