Mr. Andrew Skafel reports

EDGEWATER WIRELESS APPLIES FOR REINSTATEMENT OF TRADING

Further to the news release dated Aug. 29, 2023, the TSX Venture Exchange suspended trading in Edgewater Wireless Systems Inc.'s common shares on Sept. 1, 2023, as a result of a cease trade order imposed by the Ontario Securities Commission. The CTO was issued as a result of the delay in the filing of the company's audited annual financial statements, accompanying management's discussion and analysis, and management certifications for the financial year ended April 30, 2023.

The company submitted the filings to the relevant securities commissions on Sept. 8, 2023, and the OSC revoked the CTO on Sept. 11, 2023. The company has applied to the TSX-V to have trading in its shares reinstated and anticipates that the suspension imposed by the TSX-V will be removed shortly.

About Edgewater Wireless Systems Inc.

Edgewater Wireless is the industry leader in innovative spectrum slicing technology for residential and commercial markets. It develops advanced WiFi silicon solutions, access points and IP licensing designed to meet high-density and high-quality-of-service needs of service providers and their customers. With 26 granted patents, Edgewater Wireless's spectrum slicing technology revolutionizes WiFi, delivering next-generation WiFi today.

Edgewater's physical layer spectrum slicing allows a frequency band to be divided, or sliced, to enable more radios to operate in a given area. Think of spectrum slicing like moving from a single-lane road to a multilane highway regardless of WiFi technology. The recently completed proof of concept (PoC) with a major Tier 1 service provider showed seven to 18 times performance gains in 75 per cent of homes surveyed. Interestingly, homes with the most devices saw the most significant improvements.