Responding to Demand Edgewater Announces Additional Financing

Edgewater Wireless Systems Inc. (YFI: TSX.V) (OTCQB: KPIFF), the industry leader in Wi-Fi Spectrum Slicing technology for residential and commercial markets, is pleased to announce that the non-brokered private placement announced on March 12, 2021 (the “Initial Offering”) has been fully subscribed. The Company anticipates closing the private placement in the near future. Due to exceptional demand, the Company is announcing an additional non-brokered private placement of up to 9,230,770 units (each a “Unit”) for total proceeds of up to $1,200,000 (the “Offering”). Each Unit is comprised of one common share and one warrant of the Company (each a “Warrant”). The Offering will close after the Initial Offering has closed.

“Demand for our recently announced private placement has exceeded supply,” said Andrew Skafel, President and CEO of Edgewater Wireless. “Management and Directors will participate in this second offering, in addition to the first.”

Due to regulatory requirements and positive momentum in Edgewater’s stock price since the first offering, the new units will be issued at a price of $0.13 per unit. Each Warrant will entitle the holder to acquire one additional common share of the Company at a price of $0.23 for twenty-four (24) months following the closing date. The Offering is not subject to any minimum aggregate subscription.

This Offering is available to subscribers under available prospectus exemptions as more specifically described in the Subscription Agreement prepared in connection with the Offering.

The Offering will also be available to existing shareholders of the Company, who, as of the close of business on March 16, 2021, held securities of the Company (and who continue to hold such securities as of the closing date), pursuant to the prospectus exemption set out in Section 2.9 of OSC Rule 45-501 – Distributions to Existing Security Holders and in similar instruments in other jurisdictions in Canada (the “Existing Shareholder Exemption”). The Existing Shareholder Exemption limits a shareholder to a maximum investment of $15,000 in a 12-month period unless the shareholder has obtained advice regarding the suitability of the investment and, if the shareholder is resident in a jurisdiction of Canada, that advice has been obtained from a person that is registered as an investment dealer in the jurisdiction. If the Company receives subscriptions from investors relying on the Existing Shareholder Exemption exceeding the maximum Offering, the Company may adjust the subscriptions received on a pro-rata basis.