Wedgemount Resources Announces Missed Semi-Annual Convertible Debenture Interest Payment
(TheNewswire)
Vancouver, BC – August 25, 2025– TheNewswire - Wedgemount Resources Corp. (CSE: WDGY)(OTCQB: WDGRF)(“ Wedgemount ” or the “ Company ”), today announces that the Companyis unable to make the semi-annual interest payment scheduled forAugust 25, 2025 on CAD$2.45 million outstanding, 10% UnsecuredConvertible Debentures maturing in 2028 (the “Debentures”).
The missed interest payment totalling CAD$122,500 isthe result of unexpected liquidity constraints resulting from ashutdown of third-party gas gathering facilities in Wedgemount’score area and slower than anticipated growth in production at theHuggy leases, which together negatively impacted revenues.
“On behalf of everyone at the company we regret themissed payment and understand the concerns of our Debentureholders,” said Mark Vanry, CEO of Wedgemount. “The unforeseenemergency gas pipeline shutdowns at third-party operated facilitiesunfortunately forced the Company to shut-in both oil and gasproduction as gas from over 50% the Company’s oil wells could nolonger be vented.”
The Company has contacted each Debenture holder toaddress to advise them of the situation. The failure to pay interestunder the debentures is considered an event of default under the termsof the Debentures. The Company has not received notice of defaultfrom any Debenture holder. Wedgemount will provide an update on anyresolution with Debenture holders, and the return of production, asmore information becomes available.
About Wedgemount ResourcesCorp .
Wedgemount Resources is a junior oil & gas companyfocused on maximizing shareholder value through the acquisition,development and exploitation of oil and gas projects in Texas,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, areintended to identify such forward-looking statements. Forward lookingstatements made in this news release includes, providing a statusupdate on production. Investors are cautioned that any suchforward-looking statements are not guarantees of future businessactivities and involve risks and uncertainties, and that theCompany’s future business activities may differ materially fromthose in the forward-looking statements as a result of variousfactors, including, but not limited to, availability of funds,personnel and other resources necessary to conduct exploration ordevelopment programs, successes of the Company’s explorationefforts, availability of capital and financing and general economic,market or business conditions. There can be no assurances that suchinformation will prove accurate and, therefore, readers are advised torely on their own evaluation of such uncertainties. The Company doesnot assume any obligation to update any forward-looking informationexcept as required under the applicable securities laws.
Neither the Canadian SecuritiesExchange nor the Investment Industry Regulatory Organization of Canadaaccepts responsibility for the adequacy or accuracy of thisrelease.
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