Wedgemount Proposes Interest Settlement and Plans Private Placement
(TheNewswire)
Vancouver, BC – October 27,2025 – TheNewswire - Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF)(“ Wedgemount ” or the “ Company ”), announces it has offered tosettle outstanding interest owing to holders of its principal amount$2,599,000, 10% unsecured convertible debentures (the “ Debentures ”) issuedduring August and September of 2024 (see press releases dated August22 and September 12, 2024).
Under the Interest Settlement Agreement(“ Settlement ”), the Company proposes to settle interest owing of$129,950 in connection with an interest payment due August 25, 2025(“ August Payment ”), through the issue of 2,599,000 common shares at adeemed price of $0.05 per common share.
The Settlement also provides the Company the right tomake the scheduled February 25, 2026 interest payment (“ February Payment ”)of $129,950 in shares, at the election of the Company. In order toexercise this right, the Company shall, within 10 business days of thedate the February Payment is due, issue to the Debenture holder suchnumber of shares as is equal to the amount of the February Payment,divided by the market price (as defined by the policies of the CSE) atthe close of business on the day before the February Payment is due.The Shares issued in satisfaction of the August and February Paymentswill be subject to a hold period expiring 4 months and 1 day afterissuance, in accordance with the rules and policies of the Exchangeand applicable Canadian securities laws.
To date, Debenture holders owning principal amount$1,832,000 have agreed to the Settlement proposal.
The Settlements remain subject to acceptance by theCanadian Securities Exchange.
Private Placement
The Company intends to complete a non-brokered privateplacement of up to 10,000,000 units (each a “ Unit ”) at CAD$0.05per Unit for gross proceeds of up to CAD$500,000 (the “ Offering ”). EachUnit is comprised of one (1) common share in the capital of theCompany (each a " CommonShare ") and one half of one (1/2)non-transferable Common Share purchase warrant (each a “ Warrant ”). Eachwhole Warrant entitles the holder to acquire one (1) Common Share atCAD$0.12 for two years from the date of issuance. In connection withthe Offering, the Company may pay finder’s fees to qualifiednon-related parties, in accordance with the policies of the Exchange,being 7% cash commission on total proceeds raised by the finder and 7%in Warrants on total Units sold by the finder. The Company intends touse the net proceeds from the Offering for general working capitalpurposes. All securities issued under the Offering, includingsecurities issuable on exercise thereof, will be subject to a holdperiod expiring 4 months and 1 day after issuance, in accordance withthe rules and policies of the Exchange and applicable Canadiansecurities laws.
About Wedgemount ResourcesCorp .
Wedgemount Resources is a junior natural resourcecompany focused on maximizing shareholder value through theacquisition, development and exploitation of oil and gas projects inTexas, USA.
On behalf of the Board of Directors,
WEDGEMOUNT RESOURCES CORP.
Mark Vanry, President and CEO
For more information, please contact the Companyat:
Telephone: (604) 343-4743
ReaderAdvisory
This news release may containstatements which constitute “forward-looking information”,including statements regarding the plans, intentions, beliefs andcurrent expectations of the Company, its directors, or its officerswith respect to the future business activities of the Company. Thewords “may”, “would”, “could”, “will”, “intend”,“plan”, “anticipate”, “believe”, “estimate”,“expect” and similar expressions, as they relate to the Company,or its management, are intended to identify such forward-lookingstatements. Forward looking statements made in this news releaseincludes, the proposed use of proceeds of the private placement.Investors are cautioned that any such forward-looking statements arenot guarantees of future business activities and involve risks anduncertainties, and that the Company’s future business activities maydiffer materially from those in the forward-looking statements as aresult of various factors, including, but not limited to, availabilityof funds, personnel and other resources necessary to conductexploration or development programs, successes of the Company’sexploration efforts, availability of capital and financing and generaleconomic, market or business conditions. There can be no assurancesthat such information will prove accurate and, therefore, readers areadvised to rely on their own evaluation of such uncertainties. TheCompany does not assume any obligation to update any forward-lookinginformation except as required under the applicable securitieslaws.
Neither the Canadian SecuritiesExchange nor the Investment Industry Regulatory Organization of Canadaaccepts responsibility for the adequacy or accuracy of thisrelease.
Copyright (c) 2025 TheNewswire - All rights reserved.
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