Mr. Andrew Skafel reports

EDGEWATER WIRELESS PROVIDES ADDITIONAL COMMENTARY ON AVON RIVER VENTURES LLC VALUATION REPORT PRESS RELEASE

Edgewater Wireless Systems Inc. has provided additional commentary on the Avon River Ventures LLC news release announced on Aug. 15, 2024, and confirms that the company has not received a copy of the final report.

Edgewater Wireless recognizes the importance of ensuring transparency and accuracy in all communications and pro-actively engaged with the regulators prior to issuing the Aug. 15, 2024, press release. On June 27, 2024, an internal draft press release titled "Edgewater Wireless Announces Third-Party Valuation Report" was published on a third party website without authorization. Upon becoming aware of this situation, the company reviewed the matter thoroughly and is focused on maintaining the confidentiality and integrity of its information.

Edgewater Wireless advises stakeholders to exercise caution when interpreting the information presented in the Avon River news release, particularly the IP valuation. Stakeholders are encouraged to rely on verified and publicly available information regarding the company's patent portfolio. The information contained in this press release constitutes corrective disclosure as defined in Ontario Securities Commission staff notice 51-711 (Revised) (Refilings and Corrections of Errors), and was requested to be disclosed by staff of the OSC in connection with a staff review.

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, WiFi spectrum slicing technology revolutionizes WiFi, delivering next-generation WiFi 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 as 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 greatest improvements.

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