Mr. Andrew Skafel reports

EDGEWATER WIRELESS WELCOMES NEW CFO

Edgewater Wireless Systems Inc. has appointed Jimmy Jeon as chief financial officer.

Andrew Skafel, president and chief executive officer of Edgewater Wireless, commented: "We are delighted to announce Jimmy Jeon's appointment as CFO. We would also like to thank Chris Olney, who has served as CFO with Edgewater since Jan. 10, 2021, for fulfilling his duties. We would like to express our deep appreciation for his service and wish him the very best in his retirement."

The appointment of Mr. Jeon as chief financial officer of the company was effective May 22, 2024, when he worked closely with Mr. Olney in preparation for Edgewater's fiscal 2024 audited financial statements. Mr. Jeon is a senior financial analyst at Marrelli Support Services Inc., providing CFO, accounting, regulatory compliance and management advisory services to numerous public trading companies on the Toronto Stock Exchange, TSX Venture Exchange, and other Canadian and U.S. exchanges.

Mr. Jeon is a CPA with a bachelor of business administration and a graduate diploma in accounting from Wilfrid Laurier University. Mr. Jeon has over seven years of experience in various sectors, with responsibility for accounting, budgeting, financial reporting and disclosures.

About Edgewater Wireless Systems Inc.

Edgewater Wireless is the industry leader in innovative spectrum slicing technology for residential and commercial markets. It develops advanced WiFi silicon solutions, access points and IP licensing designed to meet the high-density and high-quality-of-service needs of service providers and their customers. With 26 granted patents, Edgewater's multichannel, spectrum slicing technology revolutionizes WiFi, delivering next-generation WiFi performance 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 WiFi technology. The recently completed proof of concept 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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