EdgeTI Announces Closing of Private Placement Financing

Edge Total Intelligence Inc. (“edgeTI”, “Company”) (TSXV: CTRL) (OTCQB: UNFYF) (FSE: Q5i), is pleased to announce that it has completed the previously announced non-brokered private placement (the “Offering“) described in its news release of August 2, 2024. In connection with the closing of the Offering, the Company issued an aggregate of 10,625,000 units (the “Units“) at a price of CDN$0.40 per Unit for gross proceeds of CDN$4,250,000.00. Each Unit consists of one subordinate voting share in the capital of the Company (a “SVS”) and one-half of one non-transferable SVS purchase warrant (each whole SVS purchase warrant, a “Warrant”). Each Warrant is exercisable into one additional SVS at an exercise price of CDN$0.60 per SVS until September 16, 2026, which is 24 months from the date of issuance, subject to acceleration pursuant to the terms of the Warrant.

The Company plans to allocate the net proceeds of the Offering to general working capital and corporate expenses.

The Company will pay aggregate finder’s fees of CDN$316,900 and 743,600 SVS purchase warrants (the “Finder’s Warrants”) in connection with subscriptions from subscribers introduced to the Offering by Ventum Financial Corp., Haywood Securities Inc., Canaccord Genuity Corp., Research Capital Corporation, BMO Nesbitt Burns and Perihelion Holdings Ltd. Each Finder’s Warrant is exercisable into one additional SVS in the capital of the Company at an exercise price of CDN$0.60 per Share until September 16, 2026, which is 24 months from the date of issuance. The Offering remains subject to final approval of the TSX Venture Exchange. The securities issued under the Offering, and any Shares that may be issuable on exercise of any such securities, will be subject to a statutory hold period expiring four months and one day from the date of issuance of such securities.

Further to the Company’s news release dated August 15, 2024, there have been follow-on questions regarding the nature of our relationship with Vidrovr. Unlike industries such as oil and gas exploration, industries involved with artificial intelligence and digital twins need to develop relationships and partnerships differently given the fast-paced nature of developments associated with its product offerings and the need for flexible technological integrations. Contractually, the Company and Vidrovr have signed a mutual non-disclosure agreement to protect each party’s intellectual property, confidentiality, and disclosure. There are currently no other agreements in place, including no agreement that provides any compensation to the Company. At this time, the two companies are working together to assess the viability of the integration of the two company’s product offerings to create AI-driven intelligent video processing and digital twins to enhance potential value and experiences that customers might achieve. Having achieved successful integration and created basic demonstrations, the companies can then work with prospective customers on potential value propositions. Once viable use cases are identified, it is customary in this industry to then at that point enter into a binding legal agreement outlining the financial benefits that may be derived from a partnership between the companies. The Company’s use of “strategic alliance” in our August 15, 2024, news release is meant to refer to this specific technological partnership and does not imply any legal joint ventures or strategic alliances. At this time, our collaboration is focused on assessing the partnership potential between the technological offerings from the Company and Vidrovr.

About edgeTI

edgeTI helps customers sustain situational awareness and accelerate action with its real-time digital operations software, edgeCore™ that unites multiple software applicates and data sources into one immersive experience called a Digital Twin. Global enterprises, service providers, and governments are more profitable when insight and action are united to deliver fluid journeys via the platform’s low-code development capability and composable operations. With edgeCore, customers can improve their margins and agility by rapidly transforming siloed systems and data across continuously evolving situations in business, technology, and cross-domain operations — helping them achieve the impossible.

Website: https://ir.edgeti.com
LinkedIn: www.linkedin.com/company/edgeti
YouTube: www.youtube.com/user/edgetechnologies

For more information, please contact:

Nick Brigman, Analyst and Press Relations
Phone: 888-771-3343
Email: ir@edgeti.com

Forward-Looking Information and Statements

Certain statements in this news release are forward-looking statements or information for the purposes of applicable Canadian and US securities law. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations, or intentions regarding the future. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company, including but not limited to business, economic and capital market conditions. Such statements and information are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the demand for its products, anticipated costs, and the ability to achieve goals. Factors that could cause the actual results to differ materially from those in forward-looking statements include the competition and general economic, and market or business conditions.

Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The reader is cautioned not to place undue reliance on any forward-looking information.

The forward-looking statements contained in this news release are made as of the date of this news release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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.