Claude Haw Brings Engineering, Management and Venture Experience to Board of Directors
OTTAWA, ONTARIO - November 27, 2012 - Edgewater Wireless Systems Inc., (YFI; TSX.V) the global leader in WiFi3 next generation WiFi technology, is pleased to announce telecom veteran Claude Haw has joined its board of directors. He has 30 years of experience in management, consulting and venture investing in the technology industry. Mr. Haw is also Chairman of the Board of Directors at DragonWave.
"We are truly excited to bring Claude's experience and thought leadership to our Board of Directors," said Duane Anderson, Chairman of the Board of Edgewater Wireless. "Claude is an exceptionally talented veteran of the telecom sector and his experience and direction will add tremendous value to the next stage of success for Edgewater Wireless."
Mr. Haw is the president and co-founder of Venture Coaches, a venture capital and management consulting firm whose fund invested in eleven technology companies with three M&As and two IPOs. From 2009 to 2011, he was President and CEO of Invest Ottawa (formerly OCRI), where he was responsible for fostering the advancement of the Ottawa region's globally competitive knowledge-based institutions and industries. Prior to launching Venture Coaches in 2000, Mr. Haw held executive positions at Newbridge, including Vice-President of Corporate Business Development, where he managed strategic investment in more than 20 companies.
"Joining the Board of Edgewater Wireless comes at an exciting time in the growth of the company," said Mr. Haw. "Edgewater Wireless has brought next generation WiFi3 technology to market at a time where the industry is seeing explosive growth for WiFi solutions on a global scale."
As part of Claude Haw's appointment to Edgewater Wireless' Board of Directors, the company is also announcing that Mr. Anastase Maragos and Mr. Greg Fielding will step down from the Board of Directors. Mr. Fielding will also resign his role as CEO of Edgewater Wireless. Edgewater Wireless' Chairman of the Board, Duane Anderson will take on the role of Interim CEO while Andrew Skafel will continue in his leadership role as the company's President.
"We extend our sincere thanks to Mr. Maragos and Mr. Fielding for their direction and the tireless efforts they provided to Edgewater Wireless from the company's inception," said Andrew Skafel, President of Edgewater Wireless. "Both Anastase and Greg were integral to the success Edgewater Wireless realized this early on in the company's evolution".
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.
President, Edgewater Wireless
1. 613.271.1101 x 2262
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.
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.