Wedgemount Closes First Tranche of Private Placement and Provides Corporate Update

Executive Summary

• Wedgemount Resources Corp. closed the first tranche of its CAD $500,000 private placement, issuing 2,150,000 units at CAD $0.05 per unit and raising gross proceeds of CAD $107,500.
• Each unit consists of one common share and half of a transferable warrant; full warrants allow purchase of common shares at CAD $0.12 for two years.
• Net proceeds will be used for general working capital; the company also granted 1,550,000 stock options to directors, officers and consultants at CAD $0.05 per share (fully vested).

Key Details

• Units Issued: 2,150,000 units @ CAD $0.05 each → Gross proceeds: CAD $107,500.
• Unit Composition: 1 common share + ½ transferable warrant; whole warrant exercisable at CAD $0.12 per share for two years from issuance.
• Statutory Hold Period: Shares and warrants subject to a four‑month hold ending March 6, 2026.
• Finder’s Fees: Up to 7% cash commission on total proceeds plus 7% of warrants on units sold by the finder, per CSE policy.
• Use of Proceeds: General working capital purposes.
• Stock Options Granted: 1,550,000 options at CAD $0.05 exercise price, exercisable for up to three years, fully vested upon grant, issued to directors, officers and consultants.

Notable Quotes

(No direct quotes were provided in the release.)