Wedgemount Resources Sells Royalty on Permian Basin Assets
(TheNewswire)
Vancouver, BC – TheNewswire- August 11, 2025, – Wedgemount ResourcesCorp. (CSE: WDGY)(OTCQB: WDGRF) (“ Wedgemount ” or the“ Company ”), today announces an agreement to sell up to a fivepercent (5%) Overriding Royalty Interest (“ORRI”) in theCompany’s west central Texas oil and gas assets to an arm’s lengththird-party (“Purchaser”) for proceeds of up toUSD$800,000.
The royalty sale agreement consists of an initialpurchase of a one percent (1%) ORRI in Wedgemount’s 100% workinginterest for total proceeds of $160,000. The Purchaser has a 120-dayoption to purchase up to an additional 4% ORRI for a total of 5%. The price for each additional one percent (1%) ORRI is USD$160,000. Proceeds from the sale will be used to both upgrade field facilitiesand optimize producing wells through workovers and chemicaltreatments.
Commenting on the transaction, Mark Vanry, CEO ofWedgemount said “The ORRI transaction increases our liquidity andthus enables us to deploy more growth capital into our existingassets.”
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, are intended to identify such forward-lookingstatements. Forward looking statements made in this news releaseincludes, deploying more growth capital into existing assets.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.
NASDAQ: WDGRF
WDGRF Trading
-1.97% G/L:
$0.0349 Last:
31,000 Volume:
$0.0349 Open:
