Wedgemount Announces Upsized Non-Brokered Private Placement

Executive Summary

• Wedgemount Resources Corp. announced it will upsize its non‑brokered private placement to as many as 20 million common shares at CAD $0.05 per share, targeting gross proceeds of up to CAD $1 million.
• Approximately one‑third of net proceeds will be allocated to marketing; the remainder will fund oil‑field operations and general working capital, supporting planned upgrades in its Permian Basin assets.
• Management highlighted a favorable macro outlook for oil prices due to ongoing Middle East hostilities, suggesting continued price elevation and a long‑term geopolitical risk premium.

Key Details

• Offering Size: Up to 20,000,000 common shares at CAD $0.05 per share.
• Gross Proceeds Target: Up to CAD $1,000,000.
• Use of Proceeds: ~33% for marketing; ~67% for oil‑field operations and general working capital.
• Hold Period: Shares subject to a lock‑up expiring 4 months + 1 day after issuance, per CSE rules and Canadian securities law.
• Insider Participation: Certain insiders may participate; exact amounts not yet determined.
• Closing Conditions: Subject to customary conditions and receipt of all required approvals.
• Operational Planning Update: Additional capital will fund upgrades to oil‑ and water‑handling infrastructure in west‑central Texas, aiming to improve well uptime, lower operating costs, and sustain production near the previously reported 24‑hour combined test rate of >800 BOEPD.
• Macro Outlook Quote (CEO Mark Vanry): “Based on the significant impact of the war in the Middle East, we believe that global oil and gas prices will continue to be elevated… there will be an ongoing longer term geopolitical risk premium to pricing.”

Notable Quotes

“Based on the significant impact of the war in the Middle East, we believe that global oil and gas prices will continue to be elevated in the short and medium term… Regardless of when hostilities end, we think there will be an ongoing longer term geopolitical risk premium to pricing which has not been a factor in global energy markets on any sustained basis for many decades.” – Mark Vanry, President & CEO

Materiality Assessment: Material – Positive (the upsized financing provides additional capital to advance operational upgrades and supports the company’s growth strategy, with positive implications for future production and cash flow).