Edgewater Wireless Announces Completion of Ninth and Tenth Payments of Debenture Interest

Executive Summary

• Edgewater Wireless settled $17,850.96 interest obligations for its September 1 2022 unsecured debentures (due Dec 1 2024 and Mar 1 2025) by issuing a total of 595,026 common shares at deemed prices of $0.05 and $0.075 per share.
• The settlement was approved by the TSX Venture Exchange and relies on exemptions under MI 61‑101 because neither the fair market value of the shares nor the debt exceeds 25 % of market capitalization.
• Directors received 114,683 of the issued shares, constituting a related‑party transaction that is exempt from formal valuation and minority‑shareholder approval requirements.

Key Details

• Interest owed: $17,850.96 as of Dec 1 2024; $17,850.96 as of Mar 1 2025 (total $35,701.92).
• Shares issued to satisfy interest:
• 357,016 shares at a deemed price of $0.05 per share.
• 238,010 shares at a deemed price of $0.075 per share.
• Total shares issued: 595,026 common shares.
• Related‑party allocation: Directors received an aggregate of 114,683 shares from the issuance.
• Regulatory approval: Settlement approved by the TSX Venture Exchange.
• Exemption reliance: MI 61‑101 sections 5.5(a) and 5.7(1)(a) – no formal valuation or minority shareholder vote required because the transaction is below the 25 % market‑cap threshold.
• Debenture details: Unsecured debentures issued on Sep 1 2022; interest payable semi‑annually.

Notable Quotes

(No CEO/President quotes were included in the release.)