Mr. Andrew Skafel reports

EDGEWATER WIRELESS ANNOUNCES PROPOSED WARRANT EXTENSION

Edgewater Wireless Systems Inc. proposes to make an application to the TSX Venture Exchange to extend the expiry date of outstanding share purchase warrants that entitle the holders to acquire 8.33 million common shares of the company.

The warrants were issued pursuant to a non-brokered private placement that closed in two tranches. An aggregate of 7.83 million warrants were issued in the first tranche of the private placement, which closed on Dec. 20, 2023. An aggregate of 500,000 warrants were issued in the second tranche of the private placement, which closed on Feb. 26, 2024. Each 2023 warrant and each 2024 warrant entitled the holder to purchase one common share of the company at an exercise price of 10 cents for a two-year period. The original expiry date of the 2023 warrants is Dec. 20, 2025, and the original expiry date of the 2024 warrants is Feb. 26, 2026. The company proposes to extend the expiry dates of the 2023 warrants and the 2024 warrants by an additional 12 months such that the 2023 warrants will expire on Dec. 20, 2026, and the 2024 warrants will expire on Feb. 26, 2027. All other terms of the 2023 warrants and the 2024 warrants will remain the same. None of the 2023 warrants and the 2024 warrants have been exercised to date. The warrant extension remains subject to approval of the TSX-V.

About Edgewater Wireless Systems Inc.

Edgewater Wireless delivers unmatched Wi-Fi QoS (quality of service) -- bar none -- by intelligently mitigating congestion, managing spectrum allocation in real time, and autonomously reconfiguring channel and link density -- driving economic gains for service providers and their customers through reduced churn, improved efficiency and high-performance connectivity in dense environments.

Redefining Wi-Fi from the silicon up, Edgewater's patented, AI-powered (artificial intelligence) spectrum slicing platform -- delivered through the PrismIQ product family -- breaks the limits of legacy Wi-Fi by enabling multiple concurrent channels in a single band. Wi-Fi spectrum slicing delivers 10 times performance and up to 50 per cent lower latency, even for legacy devices. With 26 patents and a fabless model, Edgewater is transforming the economics of Wi-Fi for service providers, OEMs (original equipment manufacturers) and enterprises -- powering scalable, standards-aligned/leading connectivity across residential, enterprise and industrial IoT (Internet of Things) markets. A Silicon Catalyst portfolio company, Edgewater is building the intelligent wireless foundation for the next era of global connectivity.