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Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF) has entered into a C$90,000 secured loan facility with Brian Imrie, a director of the company.
The facility carries interest at 12% per annum, compounded monthly. It matures on the earlier of February 13, 2027, or five business days after the company receives the proceeds of its anticipated HST refund claim.
The company may prepay the facility at any time without penalty. The loan is secured by the anticipated HST refund proceeds, as part of Edgewater’s broader strategy to manage the timing of government-related receivables.
Edgewater expects the financing to provide additional near-term flexibility as it continues to advance its operating and corporate priorities.
The loan was approved by the board of directors of the company, with the interested director abstaining from deliberations and voting on the transaction.
The transaction is a related party transaction under TSX Venture Exchange Policy 5.9 and Multilateral Instrument 61-101—Protection of Minority Security Holders in Special Transactions (MI 61-101). The company is relying on exemptions from the formal valuation and minority approval requirements of MI 61-101 on the basis that the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25% of the company’s market capitalization.
The facility remains subject to the policies of the TSX Venture Exchange. Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of the news release.
Edgewater Wireless Systems Inc. develops Wi-Fi technology focused on interference-resilient wireless silicon and Spectrum Slicing™. The company’s PrismIQ™ product family is designed to mitigate congestion, allocate spectrum in real time, and autonomously optimize channel and link density.
Edgewater states that its AI-powered Wi-Fi Spectrum Slicing™ platform enables multiple concurrent channels within a single band, aiming to increase usable capacity without the typical trade-offs. The company also cites a Wi-Fi 8-ready solution set intended for Ultra High Reliability and predictable performance across residential, enterprise, and Industrial IoT deployments.
Edgewater reports having 26 granted patents and three AI-related patents pending, and describes its business model as capital-efficient and fabless.
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