Wedgemount Provides Update on Interest Settlement
Vancouver - Wedgemount Resources Corp. (CSE: WDGY) (OTCQB: WDGRF) ("Wedgemount" or the "Company"), announces that it has closed its offer to settle a portion of outstanding interest owing to holders of its principal amount $2,599,000, 10% unsecured convertible debentures (the "Debentures") issued during August and September of 2024 (see press releases dated August 22 and September 12, 2024). Under the Interest Settlement Agreement ("Settlement"), the Company settled interest owing of $95,250 in connection with an interest payment due August 25, 2025 ("August Payment"), through the issue of 1,907,000 common shares at a deemed price of $0.05 per common share. The Shares issued in satisfaction of the August Payment will be subject to a hold period expiring 4months and 1 day after issuance, in accordance with the rules and policies of the Exchange and applicable Canadian securities laws. To date, Debenture holders owning principal amount $1,907,000 have agreed to the Settlement proposal. The Settlements remain subject to acceptance by the Canadian Securities Exchange.
About Wedgemount Resources Corp.
Wedgemount Resources is a junior natural resource company focused 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 Company at:
Telephone: (604) 343-4743
info@wedgemountresources.com
www.wedgemountresources.com
Reader Advisory
This news release may contain statements which constitute "forward-looking information", including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities of the Company. The words "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-looking statements. Forward looking statements made in this news release includes interest settlement. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors, including, but not limited to, availability of funds, personnel and other resources necessary to conduct exploration or development programs, successes of the Company's exploration efforts, availability of capital and financing and general economic, market or business conditions. There can be no assurances that such information will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. The Company does not assume any obligation to update any forward-looking information except as required under the applicable securities laws.
Neither the Canadian Securities Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
Copyright (c) 2025 TheNewswire - All rights reserved.
