EdgeMode Enters Into $15M Equity Purchase Agreement

FORT LAUDERDALE, FL / ACCESSWIRE / September 26, 2022 / EdgeMode, Inc. (OTC PINK:FWAV) ("EdgeMode"), a cryptocurrency mining and High Performance Computing company, today announced that it has entered into a $15 million Equity Purchase Agreement (the "Agreement") with Alumni Capital LP, a Delaware limited partnership.

EdgeMode Inc will have the right to sell up to $15 million of its Common Stock to Alumni Capital over a 24-month period, upon satisfaction of certain terms and conditions contained in the Agreement and Registration Rights Agreement, which includes but is not limited to filing a registration statement with the SEC, registering the resale of any shares sold to Alumni Capital. Pursuant to certain terms and conditions contained in the Agreement and Registration Rights Agreement, Alumni Capital is obligated to purchase shares upon receiving notice from EdgeMode Inc as to the amount of shares and timing of the purchase. Further, any Common Stock that is sold to Alumni Capital will occur at a purchase price of eighty percent (80%) of the lowest daily Volume-Weighted Average Price of the Common Stock five Business Days prior to the Closing Date.

Charlie Faulkner, CEO of EdgeMode Inc, commented, "This $15 million financing with Alumni Capital provides us with strong capital backing to continue to execute on our strategic plans. Having reliable capital backing will enable us to support our growth and also to complete further future equity and debt financing for the many exciting opportunities available for growth, and with this capital in place, we believe that we are well positioned for the future."

Ashkan Mapar, General Partner of Alumni Capital, commented, "We are fans of cryptocurrency mining and think Edgemode is one of the few companies positioned properly to take advantage of the current environment and experience strong growth in the sector. We are excited to be investors in the company and see great potential over the next couple of years."

A complete and detailed description of the Agreement is set forth in the Company's Current Report on Form 8-K filed on 23rd September 2022 with the S.E.C. This Press Release shall not constitute an offer to sell or the solicitation of an offer to buy securities, nor shall there be any sale of securities in any jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.