Wedgemount Proposes Interest Settlement and Plans Private Placement

Core Points - Wedgemount Resources Corp. has proposed to settle outstanding interest of $129,950 owed to holders of its $2,599,000 10% unsecured convertible debentures through the issuance of 2,599,000 common shares at a deemed price of $0.05 per share [1][2] - The company also has the option to settle the scheduled February 25, 2026 interest payment of $129,950 in shares, contingent upon market conditions at the time of payment [3] - Debenture holders with a principal amount of $1,832,000 have agreed to the settlement proposal, pending acceptance by the Canadian Securities Exchange [4] Private Placement - The company plans to conduct a non-brokered private placement of up to 10,000,000 units at CAD$0.05 per unit, aiming for gross proceeds of up to CAD$500,000 [5] - Each unit consists of one common share and one half of a non-transferable common share purchase warrant, with each whole warrant allowing the purchase of one common share at CAD$0.12 for two years [5] - The net proceeds from the offering will be used for general working capital purposes, and all securities issued will be subject to a hold period of 4 months and 1 day after issuance [5] Company Overview - 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 [6]