Quarter highlighted by continued semiconductor execution, strategic financing, and expanded engagement across broadband, semiconductor and high-reliability markets

September 29, 2026 – Ottawa, Canada – TheNewswire - Edgewater Wireless Systems Inc. (TSXV: YFI) (OTC: KPIFF) (“Edgewater” or the “Company”), the industry pioneer of AI-powered Wi-Fi Spectrum Slicing™ silicon solutions and IP, today announced its financial and operating results for the three months ended July 31, 2026.

“Fiscal 2027 is increasingly about execution,” said Andrew Skafel, President and CEO of Edgewater Wireless. “During the quarter, we strengthened our semiconductor development program, added world-class technical expertise, advanced our PrismIQ™ architecture and expanded our engagement across both traditional Wi-Fi and high-reliability wireless markets. Since quarter-end, that momentum has continued with additional financing, government-backed prototype support and an increasingly active customer and strategic-partner demonstration program.”

First Quarter Financial Highlights

Edgewater ended the quarter with cash of $144,727, up from $53,760 at April 30, 2026, while total current assets increased to $335,039 from $214,038. 

For the three months ended July 31, 2026, the Company reported a net loss of $405,443, or $0.002 per share, compared with a net loss of $359,956, or $0.002 per share, in the comparable prior-year period.  Consistent with the Company’s current development and commercialization stage, no revenue was recorded during the quarter. 

Importantly, cash used in operating activities declined to $298,985 from $516,933 in the prior-year quarter, a reduction of approximately 42%. Financing activities provided net cash of $389,952 during the quarter. 

During the quarter, Edgewater completed a private placement of 7,155,879 units at $0.06 per unit for gross proceeds of $429,353.  The Company also recognized $32,304 of FABrIC program funding as other income and recorded a grant receivable of $50,782 on July 31, 2026. 

Building Momentum into Fiscal 2027

During the quarter, Edgewater continued advancing the PrismIQ™ and Spectrum Slicing™ roadmap, including initiating a detailed architecture and design review drawing on expertise in Wi-Fi silicon architecture, communications theory, RF and baseband design and semiconductor commercialization. The work is intended to support waveform generation, prototype validation and preparation for partner demonstrations. 

During the quarter, Edgewater also:

• expanded its Spectrum Slicing™ intellectual-property portfolio with publication of UK patent application GB2644396, relating to the determination and utilization of multiple in-band channels; and 

• strengthened its semiconductor advisory team with the appointment of Dave Dwelley, bringing extensive analog, mixed-signal and power semiconductor expertise from senior roles at Linear Technology and Maxim Integrated. 

Momentum continued following quarter-end. The Company:

• closed an additional private placement tranche for gross proceeds of $287,980, including participation from Silicon Catalyst Angels I, LLC, bringing gross proceeds from the June and September tranches to approximately $717,333;  

• received approval for up to $20,000 under the OVIN Semiconductor Voucher Program to support eligible technical services associated with its FPGA-based Spectrum Slicing™ prototype program, subject to defined project milestones;  

• expanded engagement with semiconductor, broadband and strategic ecosystem participants through the GlobalFoundries Technology Summit and the invitation-only RDK Global Summit; and 

• advanced plans for its PrismIQ™ FPGA implementation and customer demonstration platform with engineering support from Fidus Systems, supporting over-the-air testing and evaluation ahead of production silicon.  

Skafel continued:

“We are moving from architecture and ecosystem development toward increasingly tangible prototype, demonstration and customer-evaluation activity. With strategic semiconductor investors supporting the Company, government-backed development programs and some of the industry’s most experienced technical advisors around the table, Edgewater is building the foundation to translate Spectrum Slicing into scalable silicon and commercial opportunities.”

Financial Statements and MD&A

The Company’s unaudited condensed interim consolidated financial statements and Management Discussion and Analysis for the three months ended July 31, 2026, will be available under Edgewater Wireless Systems Inc.’s profile on SEDAR+.

The financial statements have been prepared by management and are unaudited and have not been reviewed by the Company’s auditors.

About Edgewater Wireless

We make Wi-Fi. Better.

Edgewater’s patented, AI-powered Wi-Fi Spectrum Slicing™ platform—delivered through the PrismIQ™ product family—enables multiple concurrent channels within a single Wi-Fi band, designed to improve spectrum utilization, reliability, latency and Quality of Service in congested and high-density environments. PrismIQ™ is Edgewater’s Wi-Fi 8-ready silicon solutions platform targeting residential, enterprise, Industrial IoT and high-reliability wireless applications. With 26 granted patents, three AI-related patent applications pending and a capital-efficient fabless model, Edgewater is developing scalable silicon, IP and reference solutions for the next generation of intelligent wireless connectivity. Edgewater is a Silicon Catalyst portfolio company.

Visit https://edgewaterwireless.com

Edgewater Wireless Contacts:

Andrew Skafel, President and CEO

E: andrews@edgewaterwireless.com

Bill Mitoulas, Investor Relations

E: ir@edgewaterwireless.com

T: +1.416.479.9547

Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws.  The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. Specific statements respecting moving toward prototype validation and demonstrations, clearing a path toward the next generation of Spectrum Slicing products and moving from validation toward execution and commercialization comprise forward-looking statements and represent milestones which may or may not be achieved. Although Edgewater Wireless believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Edgewater Wireless can give no assurance that they will prove to be correct.  By its nature, such forward-looking information is subject to various risks and uncertainties, which could cause Edgewater Wireless’ actual results and experience to differ materially from the anticipated results or expectations expressed. These risks and uncertainties, include, but are not limited to access to capital markets, market forces, competition from new and existing companies and regulatory conditions.  Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this news release or otherwise, and to not use future-oriented information or financial outlooks for anything other than their intended purpose.  Edgewater Wireless undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Copyright (c) 2026 TheNewswire - All rights reserved.