Mr. Andrew Skafel reports

EDGEWATER WIRELESS ANNOUNCES PRIVATE PLACEMENT FINANCING

Edgewater Wireless Systems Inc. has arranged a non-brokered private placement of up to 10 million units at a price of five cents per unit for gross proceeds of up to $500,000. Each unit will consist of one common share and one common share purchase warrant, each warrant entitling the holder to purchase one additional common share of the company at an exercise price of 10 cents per share for a period of 24 months from the closing date.

The company may pay finder's fees of up to 7 per cent of the gross proceeds of the offering, payable in cash. In addition, finders may receive share purchase warrants entitling them to purchase such number of common shares of the company which is equal to 7 per cent of the total number of units purchased by subscribers introduced to the company by such finders, exercisable for two years from the closing date of the offering at a price of 10 cents per share, all in accordance with the policies of the TSX Venture Exchange.

The company expects to use the net proceeds of the offering for product commercialization and general working capital. The company may reallocate the proceeds from the offering as may be required depending upon the development of the company's business.

Any securities issued in connection with the offering will be subject to a four-month hold period, in accordance with securities laws and the policies of the TSX-V, as applicable. The offering is subject to TSX-V acceptance.

About Edgewater Wireless Systems Inc.

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

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